21% growth in the number of leasing companies in the first half

The Dubai World Trade Centre Authority announced the results of the first half of the current year 2024, which recorded a significant increase in the number of companies that chose the Dubai World Trade Centre Authority Free Zone as a destination for their business in Dubai, in an indicator that reflects the increase in the number of direct jobs provided within the free zone.

According to the Authority, the number of tenants in the Dubai World Trade Centre Authority Free Zone recorded a strong annual growth of 21%, reaching 2,735 tenants in the first half of 2024, compared to 2,259 tenants in the first half of 2023.

The number of companies registered with the Authority also increased by 19% to reach 2,818 companies, compared to 2,366 companies in the first half of 2023. The number of direct jobs in the free zone increased to 8,223 jobs, an increase of 5% compared to a total of 7,837 jobs in the first half of 2023.

“The Dubai World Trade Centre Authority Free Zone has delivered exceptional performance in line with the objectives of the Dubai Economic Agenda (D33), attracting a large number of companies and tenants, thanks to the supportive environment and the many advantages it offers,” said Abdulla Al Banna, Vice President of Regulatory Operations, Dubai World Trade Centre Authority Free Zone.

“By fostering innovation and supporting growth, the Dubai World Trade Centre Authority Free Zone enables businesses to thrive in the highly competitive global market and provides them with significant opportunities for future growth and development,” he added.

The Dubai World Trade Centre Authority said that in the first half of 2024, it announced the expansion of the regulatory scope of its free zone to include One Za’abeel, the iconic sustainable project developed by the Investment Corporation of Dubai.

She explained that the addition of One Za’abeel has increased the available spaces for rent in the free zone, while granting companies and institutions located in this multi-use project the ability to benefit from all the competitive advantages offered by the free zone, which include 100% foreign ownership, exemption from customs duties, dual licenses, “zero corporate tax”, facilitation of visa and permit procedures, and a wide range of flexible office solutions.

The Authority noted that it has established a new partnership with Emaratech, a subsidiary of the Investment Corporation of Dubai, to integrate and digitize government systems and services at the Dubai World Trade Centre Authority, with the aim of facilitating and simplifying the submission of applications and processing of visas, establishment cards and other documents, thus saving time and resources for companies operating in the free zone. A training and development cooperation was also launched with the Department of Economy and Tourism in Dubai in the first half of this year, with the aim of increasing the provision of opportunities for Emirati talent in the free zone.