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Dubai free zone registers 122 new firms in Q1 2017.

Jebel Ali Free Zone (Jafza), a company of DP World, has announced registering 122 new companies from 33 countries during the first quarter of this year.

According to Jafza, 55% of the new companies are from the Middle East region, while 22% are from Asia-Pacific, 16% from Europe, 4% from Africa, and 3% from North America.

Sultan Ahmed bin Sulayem, group hhairman and CEO of DP World, said: "The number of companies reflects investor confidence in Jafza services and facilities in a wide range of industry sectors.

"Jafza's approach is in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, to adopt international best practices in the business sector to attract foreign investments to the UAE and Dubai."

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He also noted that Jafza has leased more than 158,000m2 of space with plots of land and warehouses totalling 148,000 m2 and 5,700m2 respectively.

Bin Sulayem said that occupancy of warehouses and light industrial units reached 82% after new units were added last year, while the occupancy of staff accommodation exceeded 95%.

Office-space occupancy in Jafza is now 66%, following the addition of new office space in Jafza's new office building, Jafza One, while showroom occupancy stands at 78%, with small offices and workstations for SMEs at 98%.

The free zone authority also revealed that of the 122 companies registered, 20% were in the general trading and retail sector, followed by 11% in steel and building materials, and 10% each in the automotive and transport, equipment, machinery, and services sectors.

In cooperation with the Roads and Transport Authority (RTA), Jafza is reportedly building another six-lane, two-way bridge to link Jafza North and Jafza South and ease traffic on the Dubai Logistics Corridor, particularly container traffic headed from Jebel Ali Port to Al Maktoum International Airport. The project is expected to be completed by the end of 2016.

During the first quarter, Jafza also began the construction of a 150,000m 2 residential complex for workers, which consists of 13 buildings and 3,536 rooms.

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Publication:Construction Week
Geographic Code:7UNIT
Date:May 31, 2017
Words:368
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