Construction sector sees 14% growth in JAFZA in 2016by ASC Staff on Nov 22, 2016
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 is 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.
Jafza is also participating in the Big 5 Dubai, the largest construction industry event in the Middle East, from 21-24 November at the Dubai World Trade Centre, to highlight opportunities in the GCC’s rapidly growing construction market and in Jafza’s position as the region’s leading business and logistics hub.
“Infrastructure development in the Middle East and North Africa (MENA) region is undergoing tremendous change with governments allocating significant budgets towards upgrading their facilities,” said Ibrahim Mohamed Aljanahi, deputy CEO and chief commercial officer.
“The Big 5 Dubai has grown remarkably over the years and the exhibition is attracting leading multinationals from the construction and building material industry, which bodes well for the UAE’s Expo 2020 infrastructure plans Jafza’s integrated and seamless trade corridor, supported by a one-stop online trade portal for ease of doing business, provides businesses with the best in what logistics parks have to offer globally,” he added.
According to a recent industry report by BMI Research, the construction sector in the MENA region is expected to accelerate over the next 10 years, propelling regional industry from an estimated USD215 billion in 2016 to USD313 billion by 2020 and USD467 billion by 2025.
Jafza is currently home to over 961 of the world’s leading steel, building material and construction sector companies including ArcelorMittal, Tianjin Pipes, Tata Steel, Conares, China National Building Group, Danube, Saint-Gobain Gyproc, Petrogas Piping, Van Oord, Hitachi Construction Machinery, Hyundai Engineering and Construction Company.