Abu Dhabi Airports Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, has reaffirmed its status as a unique preferred business destination for local, regional and international organisations across several economic sectors, recording a two-fold increase in leased-out spaces and properties.
This strong performance in 2022 was dually driven by growth in leased spaces and properties, where ADAFZ signed contracts for a total of 163,580 m2 across Abu Dhabi International, Al Ain International and Al Bateen Executive Airports. Properties included commercial spaces, land development plots as well as administrative facilities, resulting in an increase in annual leases by 256%.
H.E. Eng. Jamal Salem Al Dhaheri, Managing Director and CEO of Abu Dhabi Airports, said: “Since its establishment, Abu Dhabi Airports Free Zone has continuously evolved, living up to its potential as a vibrant business hub and a major logistics asset for the emirate of Abu Dhabi and the UAE. Building on this momentum, ADAFZ will continue to play its role in supporting the economic diversification and reinforcing the emirate’s position as a hub for aviation, pharmaceutical, logistics, light industries, the advanced technology sector, and general entrepreneurship.”
The number of newly registered free zone entities with ADAFZ increased by 45%. Additionally, the growth experienced by ADAFZ is highlighted in specific business areas, such as manufacturing, as new licences issued increased by 200%. Additionally, new licences for companies in the IT sector increased by 133%, and licenses for aviation businesses increased by 54%.
Adel Al Taheri, VP of Free Zone Sales & Services, added: “By accommodating customer requirements, providing a diverse spectrum of services, and serving as a world-class gateway to sustainable business success, last year proved to be amongst our most successful to date, and we are proud with this growth. This year, we are innovating and providing greater value to our customers, stakeholders, and partners at the forefront of our priorities, besides accelerating our own development as a dynamic free zone hub.”
Looking ahead, ADAFZ aims to capitalise on its sustained growth across all key sectors and enhance its competitiveness as a business hub that provides connectivity and swift access to key markets with attractive tax benefits. The company’s main priorities under its annual development strategy include further developing its free zone business by attracting more SME and FDI business, satisfying the needs of potential customers, registering additional free zone entities, signing new property contracts, and growing the business to further support efforts of economic diversification in the emirate of Abu Dhabi.
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