DIEZ posts 42% revenue jump

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The company logged a 34% surge in overall EBITDA.
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  • The results, according to the company, confirm that the DIEZ benefited from integrating returns on investment
  • The increase in commercial licences and government services amounted to 49 percent

Dubai, UAE—The Dubai Integrated Economic Zones Authority (DIEZ) has posted 42 percent growth in revenues for the first six months of 2022 compared to the same period last year.

The H1 2022 performance saw its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increase by 17 percent compared to the results of the same period last year, in addition to its net market assets reaching $4.87 billion.

The results, according to the company, confirm that the DIEZ benefited from integrating returns on investment and merging the financial performance of the free zones affiliated with it.

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The results underscore the success of DIEZ’s integration model in contributing to Dubai’s economic growth and furthering its attractiveness as a global hub for foreign direct investment (FDI).

The income of the free zones affiliated with DIEZ grew by 16.6 percent, while rental income increased by 11 percent. The increase in commercial licences and government services amounted to 49 percent compared to the results of the same period last year.

The results underpin the confidence and trust reposed by multinationals, small and medium-sized companies, investors, and entrepreneurs in the DIEZ’s integrated system.

Also read: https://trendsmena.com/business/dubai-integrated-economic-zones-authority-appoints-new-leadership-team/

The results are also a vindication of the efficiency of Dubai free zones’ world-class infrastructure, the quality of the portfolio of services offered, and the flexibility of legislation and regulations put in force to support business.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, said:  “DIEZ’s exceptional results reflect Dubai’s strategic importance for international business and reinforce its position as a global hub for FDI. The directives and persistent follow-up of Dubai’s leadership contributed to strengthening the ambitious strategic plans that culminated in the launch of DIEZ about a year ago. The efforts began to show results with the introduction of new frameworks that improved the quality and efficiency of services provided to businesses and investors, enhancing the contribution of free zones to Dubai’s and the UAE’s economy.”

The increase in revenues and growth rate resulted from the operational integration of the DIEZ economic zones, which include the Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity (a joint venture between DIEZ and Wasl Properties), in addition to its subsidiaries.

Presented under the umbrella of DIEZ, the economic zones offer a practical model that flexibly and efficiently meets the requirements of investors.

DIEZ’s integrated model contributes handsomely to the economy and helps establish a culture of innovation while supporting creativity and successfully pursuing a strategy to attract FDI.

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