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The Abu Dhabi Airport Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, will triple its rental space and properties by 2022.
These achievements reaffirm the Free Zone’s position as a unique and preferred business destination for local, regional and international organizations across multiple economic sectors.
This strong performance was driven by both leased space and property growth, with ADAFZ securing contracts totaling 163,580 sqm at Abu Dhabi International Airport, Al Ain International Airport and Al Bateen Executive Airport.
It said the property included commercial space, land development plots and administrative facilities, resulting in a 256 per cent increase in annual rent.
Jamal Salem Al Dhaheri, Managing Director and Chief Executive Officer, said: “Since its inception, the Abu Dhabi Airport Free Zone has continued to grow to realize its full potential as the country’s vibrant business hub and major logistics asset.
“Building on this momentum, ADAFZ will continue to play its role in supporting economic diversification and strengthening the emirate’s position as a hub for aviation, pharmaceuticals, logistics, light industry, advanced technology sectors and general entrepreneurship,” Al Dhaheri noted.
The number of newly registered free zone entities in ADAFZ increased by 45%. Furthermore, the growth experienced by ADAFZ was highlighted in specific business areas, such as manufacturing, as new licenses issued increased by 200%, the official said.
Furthermore, he added, new licenses for companies in the IT sector increased by 133 percent, and licenses for aviation companies increased by 54 percent.
Adel Al Taheri, Vice President of Sales and Services for Free Zones, said: “This year, in addition to accelerating our own growth as a dynamic free zone, we are innovating and delivering greater value to our customers, stakeholders and partners. value, which is at the center of our priority.”
“Going forward, ADAFZ aims to capitalize on its continued growth in all key segments and enhance its competitiveness as a business hub that offers connectivity and quick access to key markets with attractive tax incentives,” Al Taheri said .
The main priorities of the company’s annual growth strategy include further development by attracting more SME and FDI business, meeting the needs of potential clients, registering more free zone entities, signing new property contracts, and growing the business to further support work Developing its Free Zone business Abu Dhabi’s economic diversification.-TradeArabia News Service
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