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DAFZ was established in 1996. It came into being as a part of the Dubai government's strategic plan to make Dubai an investment-driven economy. Today, it is one of the fastest-growing and pioneering free zones in the region, contributing to around 4.7 percent of Dubai's gross domestic product) It allows international investors a completely duty-free business setup and execution of services ...
The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: 100% foreign ownership of the enterprise
Others include the Dubai Airport Freezone (DAFZA; the Dubai internet City; and the Dubai Media city. [4] In April 2021 Dubai CommerCity launched, a free zone dedicated to e-Commerce. [5] The International Free Zone Authority (IFZA) is one of the most cost-effective and fastest-growing free trade zone in Dubai.
Dubai Airports Company was structured in 2008 to take control of Al Maktoum International Airport at Dubai World Central in Jebel Ali, Dubai International Airport, and Dubai Cargo Village. [1] In 2016, Dubai Airports started working on the expansion of the Al Maktoum International Airport, from 66,107 to 145,926 sq metres. [2]
HADID was founded in 1981 by Baha Eddin Hadid and opened its first UAE office in 1999 in the Sharjah Airport Freezone. Later, in 2003, the company was headquartered in the Dubai Airport Freezone (DAZFA). [3] Initially, HADID focused on serving the Middle East and North Africa (MENA) region, later expanding its services globally. [4]
One of the key elements of the center is a privately held financial exchange that opened in September 2005 as Dubai International Financial Exchange (DIFX) but was rebranded as NASDAQ Dubai in 2008. The trading hours of NASDAQ Dubai are from 10:00 a.m. to 2:00 p.m. (6:00 a.m. to 10:00 a.m. GMT), from Sunday to Thursday. [10]
Al Maktoum International Airport. Al Maktoum International Airport (IATA: DWC, ICAO: OMDW), also known as Dubai World Central, [3] is an international airport in Jebel Ali, 37 kilometres (23 mi) southwest of [2] Dubai, United Arab Emirates, that opened on 27 June 2010. [1]
Dubai Duty Free (DDF) is the company responsible for duty-free selling operations at Dubai International Airport and Al Maktoum International Airport. [1] Founded in December 1983, DDF recorded first-year sales of US$20 million. In 2023, its 40th anniversary year, sales turnover reached US $2.16 billion, eclipsing pre-pandemic revenues.