Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
Jafza's steel & building materials sector trade reaches AED 13.5bn
 

Dubai, November 25 2017:  Jafza, the Dubai flagship logistics hub of global trade enabler DP World, today announced that trade in steel and building materials reached AED 13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector.

Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade Centre from November 26-29, Sultan Ahmed bin Sulayem, Group Chairman and CEO DP World, said: “Ongoing construction projects in the UAE and GCC are a strong boost for the metal, steel and construction sector in Jafza as companies benefit from the growth in development projects throughout the region.”

“The robust health of this vital sector of the economy reflects the ongoing infrastructure development and the role Jafza plays in enabling companies to maximise their potential by providing comprehensive services. This is in line with the economic vision and the 2071 strategy of the UAE government, as well as the industrial plans of Dubai which aims to create new economic sectors and reshape existing ones through innovation and foreign direct investment.”

Jafza has allocated 1.1 million square meters of land for steel and building materials 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.

Through its annual participation in the exhibition, Jafza aims to create strategic partnerships with international companies to reach the fast-growing Middle East and Africa markets and other opportunities in the Asia-Pacific region and Europe.

Jafza has more than 967 companies operating in the steel and building materials sector from 87 countries around the world. Around a third (37%) are Middle East-based, 27% are from the Asia-Pacific region, 26% from Europe, 7% from North America and 3% from Africa. Indian businesses have the largest share with 14% with UAE-based companies at 13%. The sector employs more than 18,000 people which is 13 per cent of total Jafza sponsored employees.

Global companies with their regional headquarters based in Jafza include Arcelor Mittal, Bao Steel, Sumitomo Corporation, Tata Steel and Nippon Steel.
The total value of almost 22,000 current construction projects in the GCC is estimated to be USD $2.4 trillion (AED 8.8 trillion) according to a report by BNC (Business News for Construction). Projects in the GCC represent 85% of all those in the Middle East and North Africa. 


Posted by : Dubai PR Network Editorial Team
Viewed 8448 times
PR Category : Banking & Investments
Posted on : Saturday, November 25, 2017  1:10:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Arab-Brazilian Chamber of Commerce stand to feature major Br...
Next Story : Dubai Free Zones Council, Federal Tax Authority Hold Second ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah [12261-Views]
Eid- Al- Fitr Gift Guide 2018 [11322-Views]
LOOTAH Perfumes launches four new springtime fragrances for Him and Her [9730-Views]
Leading Professional Beauty Distributor Nazih Cosmetics Celebrates the launch of Ardell Ma... [8424-Views]
GUESS Launches Ramadan Collection 2018 [8278-Views]
Meet the FOREO family as they share their top tips for radiant skin during the holy month [8089-Views]
Amani Glam Collection [7838-Views]
LOOTAH Perfumes launches fragrant oud ‘Ambwood' [7808-Views]
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga [7747-Views]
Three Trends to Try with Palladio Beauty [7387-Views]
Lip Stick to my Heart - GOSH New Collections [6893-Views]
Swatch Introduces Its Latest Spring-summer 2018 Collection [6246-Views]
Toyota Rush makes a new beginning in the UAE [6210-Views]
Carrera UAE Exhibition [6173-Views]
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series [6112-Views]
bebe Launches First Ever Ramadan Capsule Collection [5661-Views]
New Master Maserati Driving Courses for 2018 [5588-Views]
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show [5582-Views]
Global Light and Power Celebrates 10 Years with the Opening of their New Showroom in Dubai [5374-Views]
Dubai's New Flagship Rolex Boutique Offers Unique Experience [5356-Views]
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai [5234-Views]
Care for your baby's sensitive skin with Corine de Farme [5148-Views]
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hub to help ... [5106-Views]
HydroPeptide Launches Solar Defense Products in UAE [5063-Views]
Enhance your natural beauty while staying active with The Body Shop's Sportify Make-up Lin... [5057-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories