The Dubai Integrated Economic Zones Authority (DIEZ) has recorded solid growth for the first six months of the year with a 5% year-on-year increase in its total revenue and a 34% surge in overall ebitda. 

 

DIEZ comprises three economic zones - the Dubai Airport Free Zone (DAFZ), Dubai Silicon Oasis and Dubai CommerCity - which too achieved a combined 17% year-on-year growth in revenue and 20% growth in ebitda.

 

Announcing its operational and financial results for the first half of 2023, DIEZ said it achieved a 10% growth in revenue from leasing operations, a 36% growth in revenue from government services and a 39% growth in licensing revenues in the initial half of the year compared to the same period last year.

 

The strong H1 2023 financial results underscore the Authority’s ability to maintain sustainable growth as well as the effectiveness of DIEZ’s new integrated model, which consolidates the products and services of its three free zones, it stated. 

 

The model aims to enhance the competitiveness of Dubai’s business value proposition, global economic stature and entrepreneurial and investment environment.

 

These exceptional results are driven by the constant improvements in operational efficiency that DIEZ has pursued since its establishment in 2021 through innovative processes, initiatives, projects and solutions. 

 

DIEZ has adopted global best practices and created a flexible economic environment to enhance the prospects of businesses based in its free zones in various sectors, said the statement.

 

On the H1 performance, Chairman Sheikh Ahmed bin Saeed Al Maktoum said: "DIEZ’s strong financial results further contribute to raising Dubai’s status as a city at the forefront of global trade and supply chain recovery and a leading international economic and logistical hub."

 

"We continue to steadily forge ahead in our mission to turn Dubai into a model of global excellence in economic zones," he noted.

 

"The seamlessly integrated ecosystem of DIEZ's economic zones delivers extraordinary value to investors and enterprises alike. Our robust momentum of growth encourages us to continue strengthening our strategic plans to enhance the contribution of free zones to Dubai's GDP to AED250 billion by 2030," he added.

 

Executive Chairman Dr Mohammed Al Zarooni said: "Since its inception, the Dubai Integrated Economic Zones Authority has provided a comprehensive ecosystem based on the optimal integration of three of the most successful economic zones in the UAE and the region."

 

"The 34% increase in ebitda and 5% increase in revenue achieved in the initial half of 2023 highlight the excellent financial and operational indicators of the Authority and its economic zones," he added.-TradeArabia News Service