Wed 31-05-2017 23:25 PM

122 new companies from 33 countries set up in Jafza during Q1 2017

DUBAI, 31st May, 2017 (WAM) -- Jebel Ali Free Zone, Jafza, a company of global trade enabler DP World and a major destination for foreign direct investment in the Middle East, Africa and the Commonwealth of Independent States, registered 122 new companies from 33 countries during the first three months of 2017.

More than half (55 percent) of new companies were from the Middle East region, followed by 22 percent from Asia-Pacific, 16 percent from Europe, 4 percent from Africa and 3 percent from North America.

Sultan Ahmed bin Sulayem, Group Chairman 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 innovative approach is in line with the vision of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to adopt best international practices in the business sector to attract foreign investments to the UAE and Dubai. Our strategy is also guided by the UAE 2021 Plan and Dubai 2021 Plan in the country’s preparation for the post-oil economy," he added.

Bin Sulayem noted that as a result of business expansion by existing companies and the inclusion of new ones, Jafza has leased more than 158,000 square metres of space with plots of land totalling 148,000 square meters and 5,700 square meters for warehouses.

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

The occupancy of office space in the Free Zone was now 66 percent following the addition of a new office space in Jafza’s new office building, Jafza One. Showroom occupancy stands at 78 percent, with small offices and workstations for SMEs at 98 percent.

Of the 122 registered companies, 20 percent were in the general trading and retail sector, followed by 11 percent in steel and building materials, with 10 percent each in the automotive & transport, equipment, machinery and services sectors.