DAFZA Enjoys Strong Growth In 2016
by Lorys Charalambous, Lowtax.net, Cyprus
06 March, 2017
The Dubai Airport Freezone performed strongly in 2016, with companies within the zone achieving a 16 percent increase in net profit, two percent growth in total revenue, and a 28 percent increase in total assets.
The total area leased to multinational companies occupying the Freezone rose by 44 percent, while total leased office space increased by 13 percent. Leased light industrial units grew as well, by 25 percent. Multinationals now account for 32 percent of all companies operating in the Freezone.
DAFZA accounted for AED109.8bn (USD29.2bn) of Dubai's non-oil trade flows in 2015. This was equal to nine percent of total trade, and 20 percent of all trade coming from free trade zones.
The Dubai Airport Freezone was established in 1996. Business incentives offered include exemptions from corporate tax, personal income tax, and import and export duties. Companies established in the zone may also be 100 percent foreign owned.
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