DMCC now largest FZ

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DMCC now largest FZ

The Dubai Multi Commodities Centre, or DMCC, Free Zone is now the UAE’s largest free zone with over 7,330 active registrations.

By Staff Report

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Published: Sun 22 Sep 2013, 9:44 AM

Last updated: Tue 7 Apr 2015, 8:25 PM

With an average of 200 companies choosing to join the DMCC each month and a 94 per cent retention rate, the centre also remains the UAE’s fastest-growing free zone.

Ahmed bin Sulayem, executive chairman of the DMCC, said: “We are now the UAE’s largest and fastest-growing free zone with over 7,330 active member companies; we remain committed to further growth in order to cement Dubai as the global hub for commodities trade and enterprise.”

“We are well on our way to achieving our target of 10,000 companies by 2015, at which point we anticipate to be almost at capacity. Our expansion plans, including the DMCC business park and the world’s tallest commercial tower, will cater to large corporations looking to access new markets and will be the next phase in the DMCC’s and Dubai’s growth.”

As the demand for commercial space within the DMCC Free Zone continues to grow, with over 74 per cent of the development already occupied, the DMCC recently announced plans to build the world’s tallest commercial tower in order to cater to this continued demand. The construction of the tower and 107,000sqm business park will add an additional 50 per cent of commercial space or 743,224sqms to the existing 2.9 million sqm of built-up area.

“We continue to innovate and complement key trading hubs across the globe to further support Dubai’s ambitious economic development programme. Currently, we are concentrating on serving markets along the New Silk Route and have become a strong facilitator of trade for producing countries in African and consuming nations in Asia, Asean, Europe, South America and the US,” Bin Sulayem said.

Since its establishment in 2002, the DMCC has welcomed a range of companies from all sectors across the globe, including Clarkson, Louis Dreyfus, Debeers Diamdel, Conoco Phillips, Rio Tinto Alcan, LVMH, Harley Davidson and Nutricia Danone.

In terms of member demographics, a third of DMCC member companies are from South Asia, a third from the Middle East (including the UAE) and a third from Western Europe and North America respectively.

Gautam Sashittal, chief operating officer of the DMCC, added: “This year, over 95 per cent of companies that have chosen to operate from the DMCC Free Zone are new to Dubai, which further demonstrates the DMCC’s and Dubai’s continuous appeal as a business destination where SMEs [small and medium enterprises] and multi-nationals alike can utilise our full-service toolkit, trade with confidence and grow their business. Due to its unique offering, strategic location, modern infrastructure and customer focus, the DMCC Free Zone enjoys a 94 per cent retention rate.”

With 65 mixed-use commercial and residential towers and over 220 retail outlets in operation, there are currently over 75,000 people working and living within Jumeirah Lakes Towers. The transformation of one of its lakes into a 55,000sqm community park and the road networks within the development are due to be completed by the end of this year.

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