RIYADH: The UAE’s Dubai Integrated Zones Authority witnessed a 42 percent increase in operational profit in 2022 and a 29 percent increase in overall income over 2021 due to DIEZ’s new integration model of economic zones.
The increase, which led to a 9 percent rise in rental revenue and a 69 percent increase in revenue from commercial licenses, government services and other services in 2022, attests to the success of DIEZ's new integrated model and the authority’s increasing contribution to the economic growth of Dubai and the UAE.
“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,” Sheikh Ahmed bin Saeed Al-Maktoum, chairman of DIEZ said.
“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,” he continued
DIEZ contributed 5 percent to Dubai’s gross domestic product and 11 percent to the emirate’s non-oil foreign trade in 2021, Sheikh Ahmed added.
“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,” Mohammed Al-Zarooni, executive chairman of DIEZ said.
“By keeping pace with innovative trends and providing a flexible and supportive environment, we seek to further nurture the growth of businesses,” he added.
According to Sheikh Ahmed, the findings confirm DIEZ’s standing as a platform for attracting foreign direct investment as well as its critical role in achieving the Dubai Economic Agenda D33 goals of doubling the emirate’s economy and consolidating its place as one of the world’s top three cities over the next decade.
In line with Dubai Economic Agenda D33, DIEZ, and Dubai Health Authority signed a memorandum of understanding in February to foster cooperation and coordination between the two parties to increase investment opportunities in Dubai’s healthcare sector.
