Abu Dhabi Airports Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, has recorded a two-fold increase in leased-out spaces and properties in 2022.

 

The achievements reaffirm the Free Zone status as a unique preferred business destination for local, regional and international organisations across several economic sectors.

 

This strong performance was dually driven by growth in leased spaces and properties, where ADAFZ signed contracts for a total of 163,580 sq m across Abu Dhabi International, Al Ain International and Al Bateen Executive Airports. 

 

Properties included commercial spaces, land development plots, and administrative facilities, resulting in an increase in annual leases by 256%, it stated.

 

Managing Director and CEO Jamal Salem Al Dhaheri said: "Since its establishment, Abu Dhabi Airports Free Zone has continuously evolved, living up to its potential as a vibrant business hub and a major logistics asset for the country.

 

"Building on this momentum, ADAFZ will continue to play its role in supporting the economic diversification and reinforcing the emirate's position as a hub for aviation, pharmaceutical, logistics, light industries, advanced technology sector, and general entrepreneurship," noted Al Dhaheri. 

 

The number of newly registered free zone entities with ADAFZ increased by 45%. Additionally, the growth experienced by ADAFZ is highlighted in specific business areas, such as manufacturing, as new licences issued increased by 200%, stated the official.

 

Additionally, new licences for companies in the IT sector increased by 133%, and licenses for aviation businesses increased by 54%, he added.

 

Adel Al Taheri, VP of Free Zone Sales & Services, said: "This year, we are innovating and providing greater value to our customers, stakeholders, and partners at the forefront of our priorities, besides accelerating our own development as a dynamic free zone hub."

 

"Looking ahead, ADAFZ aims to capitalise on its sustained growth across all key sectors and enhance its competitiveness as a business hub that provides connectivity and swift access to key markets with attractive tax benefits," stated Al Taheri.

 

The company's main priorities under its annual development strategy include further developing its free zone business by attracting more SME and FDI business, satisfying the needs of potential customers, registering additional free zone entities, signing new property contracts, and growing the business to further support efforts of economic diversification in Abu Dhabi.-TradeArabia News Service