Dubai Airport flies high again: Freezone Authority revenues up 42 percent
Dubai Airport Freezone Authority (DAFZA) saw a 42 per cent increase in revenues last year, as it licensed 196 new tenants.
The 1,600-company freezone now accounts for 8 per cent of Dubai’s trade and the number of Fortune 1000 companies has increased by 48 per cent. New multinational corporations include Metlife Alico, Richard Mille, Yamaha Motors and Isuzu Motors.
Among the upcoming projects are a larger multipurpose centre for tenants, a new 20-venue food court, 11 shops, a gym and business centre and more than 1,000 new parking spaces.
Alongside aerospace and aviation, DAFZA accommodates a wide range of industries, from electronics and engineering to logistics and pharmaceutical.
Most companies are from Europe and North America (39 per cent), closely followed by Middle East (38 per cent), with 17 per cent from Asia, 3 per cent from Offshore Islands, 2 per cent from Africa and 1 per cent from Australia.