DMCC adds 1,230 firms in H1

Dubai MultiCommodities Centre (DMCC), a free zone catering to commodities trade and enterprises, on Tuesday said it added 1,230 new companies in the first half of 2021, achieving the best performance over the past eight years.

The free zone said 220 new businesses registered in June alone, making it the best June since its inception.

In 2020, DMCC attracted 2,025 new businesses, attracted its Covid-19 relief package offered during the pandemic.

Ahmed bin Sulayem, executive chairman and CEO of DMCC, expects the second half to be even better and sees DMCC becoming home to 20,000 businesses by 2021-end.

“We have carried over the record-breaking performance of 2020 into 2021, with another set of very strong achievements across all our pillars. The numbers speak for themselves and following the recent launch of the DMCC Crypto Centre, which has generated significant interest from the global crypto community, the second half of the year looks even more promising. We expect to reach 20,000 members by year-end – a target I am confident we will achieve,” said Sulayem.

“As the Emirate prepares to welcome the world to Expo 2020 Dubai and our nation looks to celebrate its Golden Jubilee, the future holds many more opportunities for growth,” he added.

Feryal Ahmadi, chief operating officer of DMCC, said the free zone surpassed expectations with a strong performance, much like global trade has defied global expectations.

“We are determined to keep innovating and expanding our world-class products and services while engaging with and forging new relationships with new and existing markets. Our focus on growing in China, where we now have a local presence, is marching forward at pace, and encouragingly we also see many new markets come to DMCC to explore doing business in and via Dubai,” said Ahmadi.

Recently, DMCC announced plans to launch a Cacao Centre and other commodity trade centres in Dubai. It will initially incubate a select range of cacao services within its Coffee Centre and will then look to transform the emirate into an international trade hub for the in-demand superfood as part of its mid to long-term development strategy.

As the master developer of Jumeirah Lakes Towers, it said progress continued throughout the first half in upgrading the community. DMCC initiated a number of major landscaping projects that will significantly benefit the 100,000 people living and working in the area.

DMCC said in the first half report that works continued on Uptown Tower – the first tower to be released in Uptown Dubai residential district. The Tower has surpassed the 220-metre mark, and in June, WSP Middle East and Belgian construction group Besix announced 10 million working hours without a lost time injury on the site.

— waheedabbas@khaleejtimes.com