Dubai’s airport freezone to expand

Dubai’s airport freezone to expand

Leasable area to almost double in size at a cost of AED 1.3 billion.

June 1, 2010 3:50 by Samuel Potter

Dubai Airport Freezone is set to undergo an expansion that will see it almost double in size, reports Gulf News.

The project will involve an investment of AED 1.3 billion, according to the report, and could result in the arrival of up to 1,000 new companies. Construction has already begun on one of the eight planned buildings and hotel, which will increase current leasable space by around 90 percent.

Currently, around 1,500 companies operate in DAFZ with an estimated 12,000 employees. “These activities have a great cluster impact on the economy of Dubai,” said Mohammad Ahmad Al Zarouni, director-general of the free-zone. “It is definitely boosting the growth of other industries such as transportation, import/exports, construction, consumer and services.”

The freezone contributes 2.2 per cent to the gross domestic product of the UAE, says the report.