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DAFZA records 48 per cent net profit increase in 2014

Total revenues are up 13 per cent in the free zone, located within the airport boundaries. (Image source: Shenghung Lin/flickr)

The Dubai Airport Freezone Authority (DAFZA) has announced that its net profit grew by 48 per cent in 2014 over the previous year, with total revenues up by 13 per cent

The authority, whose total assets also climbed by 3.42 per cent, contributed AED109bn (US$29.7bn) to Dubai?s non-oil foreign trade last year.

DAFZA witnessed a 11.25 per cent increase in office space acquisition to meet a rise in demand fuelled by investors, and related revenue growth of 18 per cent in 2014.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of DAFZA, said, ?DAFZA?s strong performance in 2014 reflects our commitment to effectively contribute to Dubai?s economic development and solidify the leadership of Dubai as a global hub for business and investment.

?The positive financial results for 2014 reflect DAFZA?s vital role in attracting international investors and increasing more foreign capital inflows, which add value to the national economy.?

Located within the boundaries of the Dubai International Airport, DAFZA was established in 1996 as a part of the Dubai Government's plan to become an investment-driven economy.

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