DMCC, the world’s leading free zone and Dubai Government Authority for commodities trade and enterprise, has announced impressive performance results for the first half of 2024.
The free zone welcomed 1,023 new member companies, bringing its total to nearly 25,000 businesses.
DMCC now represents 15 per cent of all foreign direct investment (FDI) in Dubai, a significant increase from 11 per cent last year, and accounts for 7 per cent of the emirate’s GDP.
Looking ahead, DMCC is focusing on consolidating its major real estate projects in Uptown Dubai and Jumeirah Lakes Towers (JLT) while expanding its network in high-value sectors like AI and Web3.
"As DMCC approaches 25,000 member companies, we will continue to accelerate this growth through a curated services offering and commercial space that matches business needs to reality, ultimately providing a platform from which companies from around the world can trade and do business with confidence," said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
The growth of DMCC’s business district has been driven by strong performance across several sectors. In technology, DMCC added 226 new companies, including 14 in gaming and nine in AI.
The DMCC Crypto Centre saw 64 new companies join, including seven Virtual Asset Service Providers, marking an 11 per cent increase in its membership this year.
The energy sector also made a notable contribution, with 159 new companies joining, bringing the total in this sector to over 3,260 - the largest for any single industry within DMCC.
Additionally, the financial sector grew by 8.5 per cent with 140 new companies, and there were solid additions in agriculture, precious stones, and metals.
DMCC continues to experience balanced growth across its physical commodities and services ecosystems, reinforcing its position as a key player in Dubai’s economic landscape.
"At the start of the year we set out to consolidate our position across multiple high-growth sectors. This strategy is now bearing fruit with considerable gains recorded in H1 both in the physical commodities space as well as in technology and services industries," said Feryal Ahmadi, Chief Operating Officer, DMCC.
"As we move into the second half of 2024, we are optimistic that we will maintain our growth trajectory as we focus on delivering further premium real estate and new world-class ecosystems for our members," she added.
.@DMCCAuthority leads business and real estate growth in H1 2024 by welcoming over 1,000 new member companies and contributing 15% of #Dubai’s FDI.https://t.co/NYnMhIJQRT pic.twitter.com/7bt0zvRYfK
— Dubai Media Office (@DXBMediaOffice) August 12, 2024
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