DIEZ Reports Strong Growth in H1 2024, Driven by High Occupancy and Revenue Growth

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), has announced robust financial results for the first half of 2024, showcasing the Authority’s sustained growth and pivotal role in Dubai’s non-oil economy.

DIEZ, which oversees Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity, reported an 18% increase in net profit, a 12% rise in total revenue, and a 7% growth in operating profit compared to the end of 2023.

The economic zones also experienced a 4% rise in the number of registered companies, now employing over 78,000 specialized workers, marking a 12% growth in employment figures. This solid performance underscores DIEZ’s commitment to enhancing Dubai’s position as a key global trade hub and investment destination.

Sheikh Ahmed highlighted DIEZ’s alignment with Dubai’s vision of becoming a trendsetter in free economic zones. He attributed the Authority’s success to its flexible economic model and attractive business incentives, supporting Dubai’s Foreign Direct Investment Development Program and the ambitious goals of the Dubai Economic Agenda D33.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, credited the growth to Dubai’s forward-thinking economic policies. DIEZ’s continued efforts to boost non-oil foreign trade and attract global investment have further strengthened Dubai’s competitiveness.

DIEZ also saw advancements in its innovation initiatives, with the SANDBOX Accelerator programme completing its fourth cohort, supporting tech startups with AED 570,000 each. Additionally, DIEZ collaborated with Aramex to pilot autonomous delivery robots in Dubai Silicon Oasis, promoting sustainable urban solutions.

News Source: Emirates News Agency