DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has announced that it recorded its best-ever Q1-Q3 performance since the organisation was formed in 2002, welcoming 1800 companies to Dubai. In September alone, DMCC welcomed 215 new businesses to its Free Zone and business district, the best September performance since inception. This builds upon DMCC achieving their best H1 performance since 2013 and the best June, August and September on record earlier this year.
The record-breaking performance was driven by DMCC’s continued focus on increasing the ease of doing business and setting up a company in Dubai, the expansion of the DMCC Tea and Coffee Centres, the launch of the DMCC Cacao Centre, and the launch of the DMCC Crypto Centre, which is on track to become home to 100 crypto and blockchain companies by the end of the year.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “By all accounts, DMCC started 2021 from a position of strength, allowing us to deliver the best H1 performance in eight years. We carried that momentum forward into the third quarter, and have continued to shatter all previous records since DMCC's establishment in 2002. With Expo 2020 Dubai now underway, and significant milestones for the UAE on the horizon, I fully expect we will reach over 20,000 member companies by the end of the year. As part of our diversification strategy, our recently launched Crypto Centre continues to generate significant interest, particularly as Dubai furthers its position to become a global centre of crypto."
He added: “The pandemic has been a ten-year accelerant for business culture and digital transformation, during which time DMCC has ensured to stay ahead of the curve in providing what the market both wants and needs."
Ahmad Hamza, Executive Director – Free Zone, DMCC, commented: “Dubai has retained, and even built upon, its commercial appeal since the pandemic. Businesses recognised that they need a base where they feel supported, have access to some of the industry’s best facilities, and fully digitalised services that make operating their business as smooth as possible. As we have seen with these record-breaking numbers, companies are finding this at DMCC, with a broad range of entrepreneurs, SMEs and multinationals across tech, telecoms, professional services, financial services, precious metals and stones, and energy setting up with us. Additionally, we are proud to state that the average satisfaction score of new companies setting up with DMCC is 90%. We look forward to welcoming even more businesses to our world-leading business district in the coming months and years.”
Throughout 2021, DMCC has conducted virtual and physical events in key target markets to promote DMCC and Dubai as a perfect location to set up and do business with some of the world’s fastest-growing economies. Last month, DMCC’s Executive Chairman and Chief Executive Officer, Ahmed Bin Sulayem, led an official delegation to Brazil and Mexico to bolster trade ties, particularly around coffee.
Construction of Uptown Tower, the first tower to be released in DMCC’s premium, mixed-use Uptown Dubai district, continued at pace and the tower now stands at 269m tall, with work now focusing on residential floors.