DUBAI: H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), announced the operational and financial results of DIEZ for the first half of 2024. Driven by high occupancy rates and solid performance across all business sectors, the results reflect remarkable growth in key strategic indicators, strengthening the position of the Authority and its economic zones – the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – at the heart of Dubai’s commercial landscape and non-oil economy.
The results show that DIEZ achieved a growth of 18 percent in net profit, 12 percent in total revenue, and 7 percent in operating profit in the first half of 2024, as compared to the results announced at the end of 2023. These results illustrate DIEZ’s steady and sustainable growth outlook.
These figures also coincide with the growth in the number of registered companies, encompassing local, regional, and global markets, operating within the DIEZ economic zones. Th
e total number of such companies marked a 4 percent increase compared to the end of 2023. Additionally, these companies now employ over 78,000 specialised employees, reflecting a 12 percent growth from the previous year.
H.H. Sheikh Ahmed bin Saeed Al Maktoum noted: ‘The results of the Dubai Integrated Economic Zones Authority’s operational performance for the first half of this year clearly demonstrate its commitment to the ongoing development of its economic zones. This aligns with Dubai’s efforts to be a trendsetter in various sectors, including the free economic zones sector, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.’
Sheikh Ahmed added: ‘These positive indicators reaffirm DIEZ’s commitment to e
nhancing Dubai’s esteemed and expanding role as a central hub in global trade and an attractive investment destination. Our comprehensive and integrated economic model, known for its exceptional flexibility and attractive incentives, offers companies robust opportunities for establishing, developing, and sustaining their businesses. This aligns with our goal to amplify the contribution of DIEZ’s economic zones towards achieving the objectives of Dubai’s Foreign Direct Investment Development Program and supporting the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said, ‘DIEZ’s impressive results are a natural outcome of the wise and ambitious economic policies pursued by the emirate of Dubai. The vision and guidance of our leadership has always helped us uncover promising new opportunities with an emphasis on future foresight and being the best in various vital sectors while providing abundant incentiv
es and attractive benefits.’
‘At DIEZ, we’re keen to continue realising qualitative achievements and successive improvements in our total revenues and operating profits, tracking a steady upward trajectory. We’re also keen to ensure that we continually enhance the investment attractiveness of its three economic regions. In addition, we strive to advance the emirate’s competitiveness, building on its economic gains, and stimulating non-oil foreign trade, ultimately strengthening Dubai’s reputation as one of the best cities in the world to live, work and invest,’ Al Zarooni added.
At the beginning of 2024, Sheikh Ahmed bin Saeed approved the Authority’s new strategy, which aims to reaffirm Dubai’s status as a leading regional and global investment destination across all sectors. It also supports the emirate’s strategic priorities for integrated economic zones by focusing on three key areas: excellence, growth, and enrichment.
The first half of 2024 also witnessed SANDBOX, the Accelerator programme dedicated
to the growth of tech startups, which is part of Oraseya Capital, the venture capital investment arm of DIEZ, marking the completion of its fourth cohort. Seven technology startups received investment from Oraseya Capital, with each receiving AED 570,000 consequent to their success in the programme, which attracted over 1,500 applications.
DIEZ, in cooperation with Aramex, also initiated a pilot test of the company’s autonomous delivery robots system in Dubai Silicon Oasis, in a step towards integrating sustainable autonomous delivery methods into Dubai’s urban environment.
Source: Emirates News Agency