Dubai’s DIEZ records 42 per cent rise in operating profit

Dubai Integrated Economic Zones (DIEZ)  Authority has announced a 42 per cent increase in its operating profit in 2022. The authority said its total revenue increased by 29 per cent, compared to 2021.

The robust performance, which resulted in a 9 per cent increase in rental revenue and a 69 per cent increase in revenue from commercial licences, government services and other services in 2022, reflected the impact of DIEZ’s new integrated model and the authority’s growing contribution to the economic development of Dubai and the UAE, reported the Dubai Media Office.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of DIEZ, said, “These exceptional results, which point to a promising future for DIEZ, highlight the success of the authority’s unique approach to supporting businesses and investors.

“The results reinforce DIEZ’s status as a platform for attracting foreign direct investment as well as our strategic role in achieving the goals of the Dubai Economic Agenda D33 to double the size of the emirate’s economy and consolidate its position as one of the world’s top three cities over the next decade.”

.@diezaofficial records a 42% increase in its operating profit in 2022, while total revenue increased by 29%, compared to 2021. 9% increase in rental revenue and a 69% increase in revenue from commercial licenses, government services, and other services in 2022. pic.twitter.com/MfQgwDhIuF

— Dubai Media Office (@DXBMediaOffice) April 9, 2023

Read: Here’s what Dubai’s ambitious D33 agenda aims to achieve

“The strong performance, which reflects our commitment to delivering an exceptional business model, gives a strong boost to DIEZ’s aspiration to be an even bigger player in enhancing Dubai and the UAE’s competitiveness and economic attractiveness.

“Over the next phase of growth, we will continue fostering a culture of innovation and excellence and enhancing our globally-benchmarked solutions, facilities, benefits, and services. DIEZ contributed five per cent to Dubai’s GDP and 11 per cent to the emirate’s non-oil foreign trade in 2021,” Sheikh Ahmed added.

Read: UAE’s non-oil foreign trade grows 17% in 2022

More than 22,000 companies in DIEZ

Dr Mohammed Al Zarooni, executive chairman of Dubai Integrated Economic Zones Authority, said, “Our exceptional results in 2022 were driven by the strategic integration of economic zones focused on enhancing growth and expansion opportunities and providing a supportive environment for the business and investment community.

“The unwavering support of our leadership has enabled us to realise our goals and transform DIEZ’s business ecosystem through ambitious strategic plans, innovative initiatives and fruitful local, regional, and global partnerships. Today, more than 22,000 companies and over 41,000 employees are based here.”

“These indicators encourage us to continue making major contributions to the expansion of trade and efforts to drive economic growth and diversification in Dubai and the UAE. By keeping pace with innovative trends and providing a flexible and supportive environment, we seek to further nurture the growth of businesses,” he added.