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The ‘Jebel Ali Free Zone’ has been rapidly expanding Over The Past Five Years

World Trade

Open Eyes Opinion {source: WAM}

Dubai

 

Building and construction sector in Jafza registers 74% growth in last 5 years

 

 

 

DUBAI, 22nd November, 2015 — The building and construction sector in Jebel Ali Free Zone, Jafza, the flagship free zone entity of Dubai, has posted 74% growth in the last 5 years, growing from AED 10.7 billion in 2009 to AED 18.6 billion in 2014.

The free zone expects to double its growth in the next 3-4 years, largely driven by the continued focus of GCC countries on building economic infrastructure and stimulus generated by Dubai 2020 related projects.

Jafza is participating in Big5, the largest construction industry event in the Middle East, which will be held from 23rd-26th November at the Dubai World Trade Centre, to highlight the huge opportunities in the rapidly growing construction market in the GCC and the status of Jafza as the business and logistics hub to efficiently serve the industry in the region.

Sultan Ahmed Bin Sulayem, Chairman DP World and Ports, Customs and Free Zone Corporation, commenting on Jafza’s participation in Big 5, said, “The building and construction is one of the most dynamic business sectors in the GCC and the Middle East region. According to a recent industry report (Venture Onsite Report), major building projects worth AED 1.2 trillion are currently underway in the GCC alone.

This unveils huge opportunities for multinationals in the construction sector, which they can capitalise on by being in Jafza, which is a globally renowned trade and logistics hub for the wider Middle East region that spans from West Asia, the CIS, Africa and the Indian Subcontinent.

“Jafza’s evolution as a global business hub hinges on its commitment to excellence in terms of products, services and the overall business ecosystem, which is fully in synchronisation with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to position the emirate as the world’s top business centre and the most favoured investment destination.

“We are committed to providing excellence-driven innovative services to our customers to enable them to achieve their growth aspirations seamlessly. This will go a long way towards making Dubai the number one country in the world in terms of doing business. Our various initiatives, directed at transforming Dubai into a smart city, are part of our efforts to implement Vision 2021 and enhancing Dubai’s readiness to successfully host World Expo 2020 in the most spectacular way.

Bin Sulayem added that Jafza expects to attract a large number of companies from the construction sector participating in the exhibition who may be interested in setting up their regional sales and logistics hub in the Free Zone. WAM/AAMIR/Moran

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[photo credits-featured image: George Stewart (Own Work)- openeyesopinion.com- Dubai]

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