Dubai Integrated Economic Zones Authority (DIEZ) Reports Strong Financial Performance in H1 2023

Dubai Integrated Economic Zones Authority (DIEZ) Reports Strong Financial Performance in H1 2023

Dubai’s Integrated Economic Zones Authority (DIEZ) has revealed impressive operational and financial results for the first half of 2023, showcasing its robust growth and commitment to sustainability. The figures highlight a 5% year-on-year increase in total revenue and a remarkable 34% surge in overall EBITDA.

The three economic zones under DIEZ’s jurisdiction – Dubai Airport Free Zone DAFZ, Dubai Silicon Oasis, and Dubai CommerCity – collectively achieved a notable 17% year-on-year revenue growth and a 20% increase in EBITDA in the first half of 2023.

This strong financial performance underscores the success of DIEZ’s integrated model, which unites the products and services of its free zones to enhance Dubai’s business value proposition and global economic stature. The model has been instrumental in boosting Dubai’s entrepreneurial and investment environment.

DIEZ’s achievements have been propelled by ongoing efforts to enhance operational efficiency through innovative processes and initiatives. By aligning with global best practices, DIEZ has established a flexible economic environment conducive to business growth across various sectors.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, highlighted the organization’s role in positioning Dubai as a global trade and supply chain hub. He expressed confidence that DIEZ’s integrated ecosystem and strategic plans would contribute significantly to achieving Dubai’s economic goals, aiming to enhance free zones’ contribution to Dubai’s GDP to AED 250 billion by 2030.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, emphasized the Authority’s achievements in integrating three successful economic zones. He highlighted the 34% increase in EBITDA and 5% increase in revenue in the initial half of 2023 as indicators of DIEZ’s excellent financial and operational performance.

DIEZ’s commitment to sustainability has yielded remarkable results, including a 24% reduction in carbon emissions and a 46% improvement in its smart waste management system’s performance compared to 2021. These accomplishments align with Dubai’s focus on sustainable development, renewable energy infrastructure investment, and energy efficiency enhancement.

The organization’s dedication to sustainability was recognized by the Integrated Management System (IMS) Certification, combining ISO standards for quality management, environmental management, and occupational health and safety management. This achievement demonstrates DIEZ’s dedication to improving efficiency, supporting business growth, and enhancing the ease of doing business.

DIEZ’s robust financial performance and commitment to sustainability reflect its pivotal role in advancing Dubai’s economic agenda and promoting the emirate as an attractive destination for global investors.

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