Jebel Ali Free Zone (Jafza), a subsidiary of Dubai-based ports operator DP World, on Tuesday announced that it attracted about 26 steel and construction material companies from 17 countries during the first eight months of 2017, according to the UAE state news agency WAM.
The Middle East acquired the lion’s share of these companies with 11 firms, followed by Europe and Asia-Pacific region with eight and seven companies, respectively, Jafza said in a statement.
The steel and construction materials companies are expected to maintain their growth in the coming years on the back of the huge volume of the construction projects in the Middle East, DP World’s Chairman Sultan Ahmed bin Sulayem stated.
Jafza has allocated 1.1 million square meters of land for steel and building material companies, which highlights their importance.
“This is part of our support of the vision of the country’s leadership to diversify the national economy in a post-oil era,” he added.
Jafza said that trade in steel and building material reached AED13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector.
