DMCC beats 7 year record for number of firms joining in April

DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, has welcomed 216 new businesses to their Free Zone in April 2021, the highest recorded number for April in 7 years. Q1 2021 was the free zone’s best performance in seven years.

Despite the global economic situation, DMCC has continued to attract a broad range of entrepreneurs, SMEs and larger multinationals to Dubai through world-class facilities and business support services, demonstrating their value-add for member companies.

The strong growth builds on momentum coming from initiatives including the highly anticipated DMCC Cacao Centre and the upcoming DMCC Crypto Centre, which will further expand DMCC’s eco system for trade.

New bundled price packages and laser-targeted outreach saw DMCC drive increase engagement with key markets, including China, UK, France, India and others. Interest from Israel remains significantly strong.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The global pandemic has resulted in business across the world reassessing where they are based to ensure they have access to the right levels of support, leading facilities and first-class services. Our community of over 18,000 businesses continues to grow at record rates because we are doing exactly that - supporting our member companies and increasing their ease of doing business. This record month truly demonstrates the resilience of Dubai’s economy, and the commitment that DMCC has to its member companies.”

This achievement follows a record 205 companies joining the Free Zone in September 2020, and DMCC being awarded Global Free Zone of the Year by the Financial Times’ fDi Magazine for a sixth consecutive year in October 2020.

Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future. www.dmcc.ae

DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, earlier has announced the signing of a sale and purchase agreement (SPA) with REIT Development to establish the largest precious metals refinery and storage facility across the GCC and the first to be completely enabled by blockchain in the GCC.

As part of the agreement, REIT Development acquired industrial land strategically located in DMCC’s Jumeirah Lakes Towers (JLT) vibrant business district, said a statement issued on Wednesday.

DMCC has premium plots for sale across JLT, which are attracting significant interest from a diverse range of investors and developers, all in search of a dynamic destination to do business.

The facility will refine and store precious metals, including gold, silver, platinum, palladium and rhodium, which will be tokenised on goldexchange.com. Gold Exchange DMCC, a secured trading platform, will provide access to financial assets in the form of stablecoins namely GoldCoin, SilverCoin, PlatinumCoin, PalladiumCoin and RhodiumCoin.

Each Ethereum-based token will represent the current value of one gram of each metal and can be traded on the exchange. The tokens will be physically backed by the precious metals at DMCC’s secure storage facility, meaning they can be traded with confidence.

DMCC will initially incubate a select range of cacao services within its DMCC Coffee Centre in Jebel Ali starting from mid-2021.

The Dubai Multi Commodities Centre (DMCC) has confirmed that it will open a state-of-the-art DMCC Cacao Centre within the freezone.