DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has been named Global Free Zone of the Year 2022 by the Financial Times’ fDi Magazine for the eighth consecutive year.
The award, among the most prestigious of accolades a free zone can earn, is decided by the Financial Times Specialist editorial team and a panel of independent judges against a comprehensive set of criteria and a review of the free zones’ ecosystems.
The methodology focuses on metrics that demonstrate core growth of the free zones, both in terms of the increase in small and large tenants, and how effectively each free zone provides ecosystems and related initiatives that support growth, business and marketing strategy, infrastructure improvements, COVID-response and promotion of sustainability.
DMCC Doubles Chinese Companies Over Last 5 Years
Reflecting the leading business district and trade hub that DMCC has created for businesses of all sizes, as well as its central focus on sustainability and social impact, DMCC also received:
Large Tenant Free Zone of the Year – Global
Large Tenant Free Zone of the year – Middle East
Middle East Free Zone of the Year
SME Free Zone of the Year – Middle East
Excellence Award for ESG Practices – Global
Excellence Award for Infrastructure Development – Global
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Since DMCC was established in 2002, we have had two core goals – create a global gateway for trade, and comprehensively enhance the ease of doing business for our member companies.
"This simple yet critical strategy has underpinned our exceptional growth and is why our business district is now home to over 21,000 global businesses of all sizes and sectors.
"As we continue to accelerate our growth and break performance records across all our business verticals, I would like to thank Financial Times’ fDI Magazine for once again recognising DMCC’s achievements on the global stage.”
Record-breaking performance
2021 saw DMCC achieve its best performance since its inception, attracting 2,485 new businesses from markets including China, India, the UK and the US. This momentum was carried into 2022 with DMCC seeing the best H1 on record, attracting 1,469 companies to bring the district’s total to 21,000.
Driving these record-breaking figures are two key elements of DMCC’s strategy: increasing the ease of doing business for companies in the business district, allowing them to trade efficiently and with confidence, and providing the right infrastructure and services that make Dubai a global gateway for trade.
A world-class community
DMCC was also recognised for making a broad range of upgrades and enhancements across its business district, Jumeirah Lakes Towers (JLT), to further the community’s standing as a world-class destination to live, work and visit.
This included a project that will see all car park sunshades replaced with solar panel shades, resulting in a saving of 7,612 MWh energy each year. DMCC also launched a range of new sports and wellness facilities, alongside landscaping and façade enhancements across the district.
Over 60,000 people work in JLT, the 87-tower business district.
DMCC also made significant progress in the delivery of its new flagship development, Uptown Dubai District. Construction is almost complete at the district’s first super tall tower, Uptown Tower.
Demonstrating the significant investor confidence in both Dubai and DMCC, Uptown Tower’s 22 floors of office space have been 100% pre-leased ahead of the tower’s construction completion.
Read More: DMCC Publishes Future of Trade 2022 Report