Dubai Multi Commodities Centre’s (DMCC) free zone had its best August on record, registering 204 new member companies throughout the month.
During the first six months of the year, DMCC welcomed 1,230 companies, the best six-month period since 2013, the company said in a statement. Established in 2002, it has also been the best eight-month performance in seven years.
There are currently over 18,000 businesses registered in the free zone.
“DMCC continues to edge closer to the target we set ourselves – to reach 20,000 members by the end of 2021. The record-breaking level of business activity, even during the quieter summer months, reflects the continued appeal of our business district to companies of all sizes and origins,” said Ahmed Bin Sulayem, executive chairman and chief executive officer, DMCC.
The free zone was able to increase engagement with key markets, including China, UK, France, India and others, with interest from Israel remaining significantly strong through its new bundled price packages and targeted outreach, according to the statement.
“As Dubai prepares to welcome the world to Expo 2020 Dubai in a few weeks, we see a wealth of opportunities on the horizon. Building on this momentum, we are looking forward to the next few months which will undoubtedly be marked by many more milestones and achievements,” Bin Sulayem said.
Ahmed Bin Sulayem, executive chairman and chief executive officer, DMCC.
Expo 2020 Dubai, which opens in October, is expected to attract millions of visitors, and drive real estate demand and business activity in the UAE during the course of the six-month event.
In April, DMCC announced the signing of a sale and purchase agreement with REIT Development to establish the largest precious metals refinery and storage facility in the Gulf region.
The facilities will also be the first to be completely enabled by blockchain in the GCC.
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