Dubai Airport Freezone Authority (DAFZA) has recently announced its expansion plans and vision to invest in a number of plots of land belonging to Al Wasl Real Estate Corporation, and launch an economic project that aims to support the economy of Dubai.
In order to meet the growing demand for global companies to start their business in the freezone, DAFZA will initiate construction on the new complex in the coming months, and it is expected to be completed within 21 months.
The project plans to build light industrial units (LIUs) for companies operating out of the freezone. The land is spacious and enjoys a strategic location near the current headquarters of the freezone, in addition to having proximity to all major roads and exits.
Speaking on the occasion, Dr. Mohammed Al Zarooni, Director General of DAFZA, said, “We are proud of all the achievements of the freezone, especially our latest one to branch out to other locations. We receive tenancy applications every day from local, regional and multi-national companies. In order for us to accommodate this large number of applications looking to establish offices at our premises, we decided to expand and build this complex.” The freezone has rented the location from Al Wasl Real Estate Corporation, Asset Management Group. Both organisations hope this will open doors to future cooperation. In addition, DAFZA is liaising with Dubai Customs to facilitate the movement of goods to and from local and foreign markets.
Hesham Abdulla Al Qassim, CEO, Wasl Asset Management Group, said, “We are always on the lookout for like-minded companies and organisations that we can partner and work closely with in efforts to achieve further sustainable development in Dubai. Partnerships like these highly contribute to addressing the demands of major companies, particularly in initiatives aimed at developing various sectors in the emirate. With the local market currently witnessing continuous growth, Wasl Asset Management remains fully committed to playing a significant role in the move to position Dubai at the forefront of today’s global markets.” With the increasing number of multinational companies at DAFZA, the freezone took the decision to branch out and build the new complex to fulfil the growing demand for space. The multinational companies operating out of the freezone operate in various industries, including electronics and electrical, engineering and building materials, aerospace and aviation, logistics and freight, food and beverages and pharmaceuticals.
Source : WAM News Agency for United Arab Emirates
