United Arab Emirates, Dubai, June 3rd, 2015 - Dubai’s ever-rising skyline could soon extend to its industrial heartland as Jebel Ali Free Zone runs out of space. Approximately 80% of the land in the region’s largest free zone is already packed with warehouses and soon, the only way to build may be up.
“We are running out of land.” said Ibrahim Al Janahi, deputy chief executive of Jebel Ali Free Zone Authority (JAFZA). “We only have 20% of the land left in the total area of Jebel Ali.” Soaring demand for industrial and logistics space has pushed Jebel Ali warehouse rents up by as much as 30% in the last year.
United Arab Emirates, Dubai, May 3rd, 2015 -
Jebel Ali Free Zone, JAFZA, the flagship Free Zone of Dubai and trade and logistics hub for the wider Middle East region, has seen an increase of 17% in the number of new companies in 2014 compared to the previous year.
The Free Zone has also posted a 10% surge in its revenues for the year ended 31st December 2014. The operating profit of the company rose by more than 13% to AED 1.18 billion during the year.
United Arab Emirates, Dubai, April 2nd, 2015 -
The long awaited new companies law will be advantageous to IPO activity in the UAE and according to lawyers, will boost corporate governance.
Sheikh Khalifa, President of the UAE on Wednesday, issued the Commercial Companies Law No 02 for 2015. This brings a multi-year legislative process to a close. According to Husam Hourani, Managing Partner at Al Tamimi & Company, “the new law will bring significant improvements, particularly in the level of corporate governance expected of listed companies.” It would also “encourage financial markets and new IPO activity on UAE markets.”
The Department of Economic Development (DED) in Dubai issued 59,130 commercial permits over the course of 2014, a 13% increase from 2013 says the annual report on business activity in the emirate of Dubai. The number and categories of permits issued demonstrate the increasing case of licensing procedures at DED as well as a rise in key activities such as retailing and promotions.
The New Dubai Health Insurance Law is being rolled out now and by July 2016 it will be complete. All businesses large and small need to ensure compliance. CREATIVE ZONE, the company formation experts, have teamed up with Now Health to offer a Power Breakfast for company owners who are seeking advice on how this will affect their business and want to get the best advice.