Jebel Ali Free Zone’s profit rose 15 per cent for the first half of the year, as it added more than 300 new customers
Dubai’s largest industrial zone yesterday reported profit of Dh517.6 million for the six months to the end of March, compared with Dh448.5m in the same period of last year.
The rise in profit came in spite of a lower number of customer additions. The Jebel Ali Free Zone (Jafza), located on the outskirts of the city, added 313 new customers during the period, compared with 346 in the first half of 2014.
However, this marked an improvement on the second half oflast year, when it made 204 net customer additions.
Jafza’s deputy chief executive Ibrahim Al Janahi said in June that about 80 per cent of the free zone’s land was occupied, with the company looking at vertical expansion as a means of satisfying additional customer demand for warehouse space.
Jafza’s revenues for the six months to June rose by 9 per cent to Dh898m, an increase the company ascribed to “price and volume growth in leasing plots and on-site residential facilities”.
Soaring demand for industrial and logistics space pushed Jebel Ali warehouse rents up by as much as 30 per cent last year, beating residential and retail property asset classes.
jeverington@thenational.ae
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Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”