DWTCA Free Zone records strong 2024 growth

Dubai World Trade Centre Authority (DWTCA) Free Zone has revealed an increase in the number of companies choosing DWTCA as the destination for their Dubai business in the first half of 2024.

The number of tenants in DWTCA Free Zone recorded significant year-on-year growth, up 21 per cent to 2,735 at the end of H1 2024, from 2,259 in H1 2023.

The number of registered companies in DWTCA also rose, up 19 per cent in the same period last year, to reach 2,818 registered companies in H1 2024, an increase from 2,366 companies at the mid-point of 2023. The number of direct jobs within the free zone also grew to 8,223 – a 5 per cent increase on the same period last year, from 7,837 in H1 2023.

Abdalla Al Banna, VP of Free Zone Regulatory Operations at DWTC, said, "The DWTCA Free Zone has demonstrated exceptional performance aligned with the D33 Agenda's visionary goals. Our dedication to providing a dynamic and business-friendly environment has resulted in significant benefits for the enterprises operating within our jurisdiction."

In H1 2024, DWTCA officially extended its Free Zone jurisdiction to include One Za'abeel, the iconic sustainable project developed by the Investment Corporation of Dubai.

The addition of One Za'abeel increased the Free Zone's rental space, while granting companies and organisations within the landmark mixed-use development access to a host of advantages provided by DWTCA, including 100 per cent foreign ownership, exemption from customs duties, dual-licensing opportunities, 0% Corporate Tax, simplified procedures for visas and permits, and a wide range of flexible office solutions.