The Dubai Integrated Economic Zones Authority (DIEZ) recently announced its operational and financial results for the first half of 2024, noting high occupancy rates and solid performance across all business sectors.
DIEZ achieved an 18 percent increase in net profit, a 12 percent rise in total revenue, and a 7 percent expansion in operating profit during the first half of 2024 compared to the end of 2023.
The zone experienced remarkable growth in key strategic indicators, strengthening the position of the authority and its economic zones which include the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity, at the heart of Dubai’s commercial landscape and non-oil economy.
“These positive indicators reaffirm DIEZ’s commitment to enhancing Dubai’s esteemed and expanding role as a central hub in global trade and an attractive investment destination,” stated Sheikh Ahmed bin Saeed Al Maktoum, chairman of DIEZ.
Registered companies rise
The increase in DIEZ’s financial performance coincides with the growth in the number of registered companies operating within the authority’s economic zones. The total number of such companies saw a 4 percent rise during the first half of 2024. In addition, these companies now employ over 78,000 specialized employees, a 12 percent annual growth.
“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,” stated Dr. Mohammed Al Zarooni, executive chairman of DIEZ.
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New strategy propels growth
At the beginning of 2024, Sheikh Ahmed bin Saeed approved the authority’s new strategy which seeks to reaffirm Dubai’s position as a leading regional and global investment destination across all sectors. DIEZ’s new strategy 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 program 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 AED570,000 consequent to their success in the program.
In collaboration with Aramex, DIEZ also initiated a pilot test of the company’s autonomous delivery robots system in Dubai Silicon Oasis.
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