- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Proud of its thriving cultural economy having attracted millions to the city, Dubai also boasts of its success on the commercial front. JAFZA (Jebel Ali Free Zone Authority) is one such remarkable story.
Labelled as the first ever free zone in the UAE, set up in 1985, it currently is home to over 5,000 internationally recognized companies, largely in the field of warehousing, hospitality, human resources, logistics and trade. The said free zone area has over the years, witnessed an immense growth in the industrial as well as the residential sectors.
Companies within the JAFZA are 100 per cent owned by local and international investors, with no local partnership required. Thus, investors are able to make flexible decisions. Trade licenses are also issued to any company planning on starting up their business, allowing them to carry the same as per the norms set by the JAFZA authorities.
Investors are given the opportunity to build their own office buildings on certain plots or lease an office space in various types of state-of-the-art amenities provided by JAFZA. These include warehouses, showrooms, customized development solutions, offices, retail outlets, a business park and even on-site residences, making it a holistic business destination for industry experts. In its attempt to provide companies with the opportunities to venture into other businesses, exhibits are conducted on local as well as international levels.
Further connected to JAFZA, Al Maktoum International Airport which opened in 2010 only offered one runway and one cargo flight. The airport has been further certified to handle passenger aircrafts in 2011 and has since benefited the free zone.
Also, all goods imported and exported here do not attract any custom duty. Built around the world’s largest man-made harbor, Jebel Ali Port, JAFZA plays a crucial role in the rise of the Middle East’s economy.
Establishing a foothold in the tourism sector, setting up luxurious resorts and other attractions are on to make it an ideal tourist spot as well.
• JAFZA boasts various cost-effective yet state-of-the-art facilities
• In proximity to Jebel Ali Port and Al Maktoum International Airport
• Added revenue is now slated to come from the hospitality industry
Source: Mrudvi Bakshi, Special to Properties
The writer is a freelancer