122 new firms set up base in Jafza in Q1

dubai - More than half (55 per cent) of new companies were from the Middle East

The Jebel Ali Free Zone (Jafza) has registered 122 new companies from 33 countries during the first three months of 2017.

More than half (55 per cent) of new companies were from the Middle East, followed by 22 per cent from Asia Pacific, 16 per cent from Europe, four per cent from Africa and three per cent 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.

"Jafza's approach is ito 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," he said.

Bin Sulayem noted that Jafza has leased more than 158,000 square metres of space with plots of land totalling 148,000 square metres and 5,700 square metres for warehouses.

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

The occupancy of office space in the free zone was now 66 per cent following the addition of a new office space in Jafza's new office building, Jafza One. Showroom occupancy stands at 78 per cent, with small offices and workstations for SMEs at 98 per cent.

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

- business@khaleejtimes.com