DUBAI: A total of 513 new companies chose Jebel Ali Free Zone, Jafza, the region’s premier trade facilitator and hub as their operational base in 2017, reaffirming its position as a destination of choice for businesses.

New companies represent a nine percent increase in Jafza’s portfolio compared with the 470 new companies that registered in 2016. The number of countries from which they come also rose from 56 to 64 year-on-year.

Jafza’s flagship commercial property, Jafza One, achieved 42 percent growth in its customer base with a 20 percent rise in occupancy and a 49 percent increase in leased offices, marking its best annual performance.

Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said, "Jafza has again proved its ability to attract businesses, retain them and act as a catalyst for growth. The dynamic model we have created through more than 33 years of experience reduces the cost for investors while enabling new opportunities for growth.

Our ability to consistently outperform the industry even in adverse global economic conditions confirms the status of Jafza as a global destination for foreign companies keen on expanding across the Middle East and Africa markets.

"Jafza is one of Dubai’s success stories that has developed in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make the emirate a hub for business and commerce."

The newcomers increased the Free Zone’s active customer base to over 7,500 in 2017. A regional breakdown of the number of companies in Jafza shows that the Middle East dominates with 49 percent, followed by the Asia Pacific at 28 percent, Europe 15 percent, Africa 5 percent and the Americas 3 percent.

The Electronics and Electrical sector continues to lead accounting for 16 percent of all Jafza-based companies, followed by Machinery and Equipment with 13 percent; Foodstuffs, Livestock and Agricultural products 11 percent; Retail and General Trading 11 percent; and Vehicle and Transport 11 percent.

Other industry verticals are Metal, Steel, Construction eight percent; Services eight percent; Chemicals seven percent; Healthcare and Pharma five percent; Logistics four percent; Oil and Gas four percent, and other sectors two percent.

Jafza One is located in the heart of the business community adjoining Jebel Ali Port, rated among the top 10 container ports globally.

© Copyright Emirates News Agency (WAM) 2018.