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Sat 14 May 2016 08:42 AM

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Dubai's DMCC sees 18% growth, passes 12,000-firm milestone

Trade, enterprise and commodities authority cement position as UAE's largest free zone

Dubai's DMCC sees 18% growth, passes 12,000-firm milestone

DMCC, the Government authority on trade, enterprise and commodities in Dubai, has announced that its member companies surpassed the 12,000 mark last month.

It said in a statement that the number of companies grew by 18 percent during 2015 while Dubai Gold & Commodities Exchange volumes expanded by 23 percent to 14.5 million contracts traded.

The statement added that the DMCC Tea Centre re-exported 45 million kilos of tea during the past year.

The number of companies registering to trade within the DMCC Free Zone last year increased to more than 11,500 by the end of last year, with strong growth continuing in 2016 with more than 12,000 signed up by the second quarter.

On average, DMCC said it welcomed seven new member companies daily last year, cementing it as the largest and fastest growing free zone in the UAE.

Other key achievements included the launch of Middle East's first Google for Entrepreneurs Global Tech Hub with AstroLabs Dubai and a record-breaking trading volumes of over 14.5 million contracts on the DGCX.

"We are extremely proud of our performance in 2015 and making DMCC a home for over 12,000 member companies," said Ahmed Bin Sulayem, executive chairman, DMCC.

DMCC is today home to many global industry leaders including Alcatel Lucent Middle East and North Africa, American Express, Bvlgari, Carrera Y Carrera, Colgate-Palmolive, Duracell, Dyson, Eurofin, Hakan Agro, John West Foods, Louis Dreyfus, Lukoil, LVMH, Nutricia Danone, Oddfjell, Olam International, Tata International, TAG Worldwide, Topaz Energy and Marine, and Whirlpool.

Gautam Sashittal, CEO, DMCC, added: "We are delighted that businesses around the world recognise  DMCC as the destination of choice. Sitting at the epicentre of global commerce, we are passionate about delivering new and sustainable marketplaces... while continuing to bring the physical, financial and digital infrastructure they need to operate efficiently and trade with confidence."

The DMCC Free Zone now stands at 66 completed mixed-use towers including five hotels, 92 educational establishments and over 500 retail outlets across DMCC's Jumeirah Lakes Towers (JLT).

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