Ahmed bin Saeed: DIEZ Reports Exceptional Growth in 2024 Financial Results

Post by: Bandan Preet

Photo: Dubai Government Media Office

The Dubai Integrated Economic Zones Authority (DIEZ) has recorded impressive financial and operational growth in 2024. This remarkable progress has strengthened its role in Dubai’s economy and aligned with the goals of the Dubai Economic Agenda D33.

Significant Financial Growth

DIEZ reported a 35.5% increase in net profit compared to 2023, showcasing its success in achieving its strategic objectives. The authority also saw an 18.4% growth in revenue and a 7.8% rise in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) compared to the previous year. These numbers highlight DIEZ’s growing impact on Dubai’s non-oil economy through its economic zones: Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity.

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Expanding Business and Workforce

DIEZ’s efforts have led to a 9% increase in the number of registered companies operating within its economic zones. These zones serve as key hubs for businesses operating locally, regionally, and globally.

Additionally, the number of employees working in DIEZ-registered companies grew by 21% in 2024, bringing the total workforce to over 84,000 people.

Leadership’s Vision

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, emphasized the importance of innovation and digital transformation in driving economic growth. He said, “These outstanding results reflect the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai among the world’s top three urban economies by 2033.”

He added, “We remain committed to supporting businesses within our economic zones to enhance their competitiveness. Our goal is to strengthen Dubai’s economy and reinforce its position as a leading global trade and investment hub.”

Sustained Success

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, credited this success to a well-planned strategy based on sustainability, innovation, and knowledge. “DIEZ’s achievements across various sectors highlight its strength and commitment to economic prosperity,” he said.

DIEZ also celebrated the success of its companies. Tradeling Holding, an online B2B marketplace under DIEZ, has grown significantly, increasing its order volume by four times since 2023. It recently acquired the distribution business of Axiom Telecom in the MENA region. The company now serves over 50,000 clients and has shipped around 3.5 million units this year.

Meanwhile, Oraseya Capital, DIEZ’s investment arm, has emerged as a leader in venture capital. According to a report by MAGNiTT, Oraseya was the most active investor in the UAE in 2024 and the second most active investor in Series-A deals across the MENA region. The company has made 24 high-quality investments, including 16 through its Sandbox program for early-stage startups and eight direct investments in promising businesses.

Key Sectors Driving Growth

DIEZ continues to foster a business-friendly environment across multiple industries, showing strong growth in its company portfolio:

• Wholesale & Retail (30.38% of total companies) – 24% growth

• Professional, Scientific & Technical Services (23.61%) – 33% growth

• Information & Communication (18.82%) – 24% growth

• Financial & Insurance (10.96%) – 35% growth

• Administrative & Support Services (5.6%) – 28% growth

• Transportation & Storage (2.32%) – 33% growth

• Other sectors (8.3%) – 126% growth

DIEZ’s ongoing support for businesses has played a key role in Dubai’s economic expansion. Its contribution to Dubai’s GDP stands at 5.1% based on the latest statistics from 2021, proving its impact in strengthening Dubai’s global economic position.

Future Commitments

DIEZ remains focused on providing businesses with innovative solutions, investment opportunities, and a strong economic foundation. With its continuous efforts, the authority aims to maintain Dubai’s reputation as a top destination for global businesses and investors.

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