Dubai Integrated Economic Zones Authority (DIEZ) has registered a growth of 18% in net profit, 12% in total revenue, and 7% in operating profit in the first half of 2024, as compared to the results announced at the end of 2023, highlighting its key contribution to Dubai’s non-oil economy, a report said.

Announcing the operational and financial results of DIEZ for the first half of 2024, DIEZ chairman Sheikh Ahmed bin Saeed Al Maktoum said the results are driven by high occupancy rates and solid performance across all business sectors, Emirates News Agency, WAM, said.

The results reflect remarkable growth in key strategic indicators, strengthening the position of the Authority and its economic zones – the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – at the heart of Dubai’s commercial landscape and non-oil economy.

These figures coincide with the growth in the number of registered companies, encompassing local, regional, and global markets, operating within the DIEZ economic zones.

The total number of such companies marked a 4% increase compared to the end of 2023. Additionally, these companies now employ over 78,000 specialised employees, reflecting a 12% growth from the previous year.

Al Maktoum said: “The results of the Dubai Integrated Economic Zones Authority’s operational performance for the first half of this year clearly demonstrate its commitment to the ongoing development of its economic zones.

“This aligns with our goal to amplify the contribution of DIEZ’s economic zones towards achieving the objectives of Dubai's Foreign Direct Investment Development Program and supporting the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally.”

Dr Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “DIEZ’s impressive results are a natural outcome of the wise and ambitious economic policies pursued by the emirate of Dubai.

“The vision and guidance of our leadership has always helped us uncover promising new opportunities with an emphasis on future foresight and being the best in various vital sectors while providing abundant incentives and attractive benefits.”

“At DIEZ, we’re keen to continue realising qualitative achievements and successive improvements in our total revenues and operating profits, tracking a steady upward trajectory.

“We’re also keen to ensure that we continually enhance the investment attractiveness of its three economic regions. In addition, we strive to advance the emirate’s competitiveness, building on its economic gains, and stimulating non-oil foreign trade, ultimately strengthening Dubai’s reputation as one of the best cities in the world to live, work and invest.”

At the beginning of 2024, Sheikh Ahmed bin Saeed approved the Authority’s new strategy, which aims to reaffirm Dubai’s status as a leading regional and global investment destination across all sectors.

 It also supports the emirate’s strategic priorities for integrated economic zones by focusing on three key areas: excellence, growth, and enrichment.

The first half of 2024 also witnessed Sandbox, the Accelerator programme dedicated to the growth of tech startups, which is part of Oraseya Capital, the venture capital investment arm of DIEZ, marking the completion of its fourth cohort.

Seven technology startups received investment from Oraseya Capital, with each receiving AED 570,000 consequent to their success in the programme, which attracted over 1,500 applications.

DIEZ, in cooperation with Aramex, also initiated a pilot test of the company’s autonomous delivery robot system in Dubai Silicon Oasis, in a step towards integrating sustainable autonomous delivery methods into Dubai’s urban environment.