Dubai World Trade Centre Authority (DWTCA) Free Zone said on Thursday that licence renewals surged by over 250% in the first half of 2023 to 892 from 254 a year ago.

New companies registered in the first six months reached 322, 32% higher than 244 in H1 2022. The free zone is home to more than 2,000 companies.

“Our robust performance in H1 reflects our alignment with Dubai’s Economic Agenda (D33) goal of attracting foreign investment with a focus on making Dubai a global hub for future economy and innovation,” said Abdalla Al Banna, Vice President of Free Zone Regulatory Operations at DWTC.

The authority recruited 262 new employees to support the free zone’s operations, extending over two million square feet of premium office space.

(Editing by Seban Scaria seban.scaria@lseg.com)