The building and construction sector in Jebel Ali Free Zone (Jafza), the flagship free zone entity of Dubai, has posted 74% growth in the last 5 years growing from AED 10.7 billion in 2009 to AED 18.6 billion in 2014. The Free Zone expects to double its growth in the next 3-4 years. The growth in the sector will largely be driven by the continued focus of GCC countries on building economic infrastructure and stimulus generated by Dubai 2020 related infrastructure projects.
Jafza participated in Big 5, the largest construction industry event in the Middle East held on 23-26 November at the Dubai World Trade Centre, to highlight huge opportunities in the rapidly growing construction market in the GCC and the status of Jafza as the business and logistics hub to efficiently serve the industry in the region.
Sultan Ahmed Bin Sulayem, Chairman DP World and Ports, Customs and Free Zone Corporation, commenting on Jafza participation in Big 5 said, “The building and construction is one of the most dynamic business sectors in the GCC and the Middle East region. According to a recent industry report (Venture Onsite Report) major building projects worth AED 1.2 trillion are currently underway in the GCC alone. This unveils huge opportunities for multinationals in the construction sector, which they can capitalize on by being in Jafza, a globally renowned trade and logistics hub for the wider Middle East region that spans from West Asia, the CIS, Africa and the Indian Subcontinent.”
Jafza is currently home to over 800 world’s leading steel, building material and other construction sector related companies, most of which have set-up their regional headquarters in Jafza to serve the entire region most efficiently
Featured image by Imre Solt