Jafza Building & Construction Sectors record a 14% growth

The building and construction sector in Dubai’s Jebel Ali Free Zone (Jafza), A DP World Company and the UAE’s flagship trade and logistics hub, posted 14% growth in the number of registered companies, from June 2015 to June 2016.

The growth was largely driven by the continued focus of Gulf Corporation Council (GCC) countries on developing infrastructure and by the economic stimulus generated by Expo 2020 projects. The construction and building material sector in Jafza is among the country’s leading employment generators with a workforce of over 18,800 occupying an area of 3.56 million square metres of combined facilities.

Ibrahim Mohamed Aljanahi, Deputy CEO and Chief Commercial Officer said, “Infrastructure development in the Middle East and North Africa (MENA) region is undergoing tremendous change with governments allocating significant budgets towards upgrading their facilities. Jafza provides a world-class business platform for construction conglomerates looking to expand in the MENA region.

According to a recent industry report by BMI Research, the construction sector in the MENA region is expected to accelerate over the next decade, propelling regional industry from an estimated USD215 billion in 2016 to USD313 billion by 2020 and USD467 billion by 2025.

AlJanahi added, “Jafza’s evolution as a global business hub hinges around its commitment to excellence in terms of products, services and overall business ecosystem, which is fully in sync with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to position the Emirate as the world’s top business centre and the most favoured investment destination.”

 

Source: Jafza