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Sat 17 Oct 2015 10:13 AM

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Dubai's DMCC named best free zone in the world

The Financial Times fDi Magazine hails performance of Dubai authority which boasts over 11,000 firms

Dubai's DMCC named best free zone in the world

DMCC, the authority on trade, enterprise and commodities in Dubai, has been named Global Free Zone of the Year by The Financial Times fDi Magazine.

The annual global survey is based on criteria such as performance year on year, growth and expansion plans, and presence of high growth industries.

The DMCC Free Zone was hailed by the magazine for its unrivalled digital and physical end-to-end services and infrastructure model.

DMCC currently has over 11,000 member companies and a community of 85,000 workers and residents.

Last month, DMCC unveiled its conceptual master plan for the Burj2020 District.

Set to be the commercial heart of south Dubai and the epicentre of business activity, the project will be spread over 1 million square metres, the equivalent size of approximately one-third of the existing JLT area and nearly twice the size of New York's Rockefeller Center.

In addition to commercial space which will include Burj2020, the world's tallest commercial tower, a retail offering totalling over 100,000 square metres will serve the DMCC Free Zone, JLT and the surrounding areas.

Ahmed bin Sulayem, executive chairman, DMCC, said: "Receiving the fDi award for the Global Free Zone of the Year 2015 cements DMCC’s position as the global hub for trade, enterprise and commodities, and reaffirms Dubai’s success in enabling businesses to flourish like nowhere else in this world.

"For DMCC, this is just the beginning. Our determination to deliver the ideal marketplace for the world’s leading businesses drives continuous innovation in line with the entrepreneurial spirit of Dubai.

"We recognise that in order to sustain and grow the best Free Zone in the world, we need to enable businesses to succeed by delivering the Emirate’s next generation of growth and a strong resilient future."

Courtney Fingar, editor-in-chief, fDi Magazine, added: "The DMCC Free Zone has established itself as the most proactive, dynamic free zone in the UAE, broader region and now indeed the world. Through its rapid growth, superb facilities, and attractive incentives and services for investors, the free zone is positioning itself as a go-to place for companies seeking a platform for doing business in the Middle East and beyond."

Gautam Sashittal, CEO, DMCC, said: "It is especially pleasing to see that DMCC has been recognised for its innovation, efficiency and focus on serving the needs of our member companies. These have been areas of focus in recent years and are key to DMCC’s strategy for future success."

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