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DIEZ Reports Financial Growth in 2024

news agency wam , 24 Feb 2025 - 20:41

Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), announced yesterday, Sunday, February 23, that DIEZ has experienced significant financial and operational growth in 2024, enhancing its role in Dubai's economy.


According to Amac News; he stated that the organization has recorded a 35.5% increase in net profit compared to 2023, demonstrating its success in achieving strategic objectives.
DIEZ also reported an 18.4% growth in revenue and a 7.8% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 compared to the previous year. The Dubai Integrated Economic Zones Authority also announced a 9% growth in the number of registered companies operating within its economic zones, serving as hubs for their local, regional, and global operations.
Furthermore, the number of employees in companies registered within DIEZ grew by 21% in 2024 compared to 2023, bringing the total workforce to over 84,000 employees.
Al Maktoum stated, “We believe in the importance of stimulating economic growth through our continued focus on innovation and digital transformation, and these results have proven our success. We are committed to empowering companies within our economic zones to enhance their competitiveness and ultimately contribute to strengthening Dubai’s economy and solidifying its position as a regional and global hub for trade and an exceptional investment destination.”
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, highlighted the remarkable achievements of companies such as Tradeling Holding, which has quadrupled its order volume since 2023, and Oraseya Capital, recognized as the most active investor in the UAE for 2024.
In 2024, DIEZ successfully achieved its strategic objectives and marked a series of significant milestones that have contributed to reinforcing Dubai's position as a global investment hub. Tradeling Holding, the online B2B marketplace and a subsidiary of DIEZ, made a notable acquisition of the distribution business of Axiom Telecom in the Middle East and North Africa (MENA) region.
 The company also experienced remarkable growth, increasing its order volume fourfold since 2023. Tradeling now serves over 50,000 clients and has shipped approximately 3.5 million units in 2024.
Meanwhile, Oraseya Capital, DIEZ’s investment arm specializing in funding startups from the pre-seed to Series B investment stage, has established itself as a leading force in the investment sector. According to a report by the venture capital data platform MAGNiTT, Oraseya ranked first as the most active investor by number of deals in the UAE for 2024 and the second most active investor by Series A deals across the MENA region.
The company's impressive achievements also include 24 high-quality investments, with 16 made through its Sandbox program dedicated to funding and supporting early-stage technology startups, while eight were direct investments in high-potential companies.
DIEZ continues to foster a thriving environment across various sectors, demonstrating strong growth across its portfolio of companies.
 The wholesale and retail sector, which constitutes 30.38% of DIEZ's total companies, saw a growth of 24%. The professional, scientific, and technical services sector, representing 23.61% of the total companies, experienced a 33% growth. Meanwhile, the information and communication sector, which makes up 18.82% of the companies, also grew by 24%.
The financial and insurance sector, representing 10.96%, saw an impressive 35% growth, while the administrative and support services sector, accounting for 5.6% of the total companies, grew by 28%. Additionally, the transportation and storage sector, comprising 2.32% of the total companies, recorded a 33% growth, and other sectors, which together represent 8.3% of the total companies, saw a 126% increase.
DIEZ’s ongoing commitment to providing a supportive and flexible business environment has played a crucial role in driving sustainability and fostering growth across these sectors.
The Authority’s efforts are also reflected in its contribution to Dubai’s GDP, which stood at 5.1% according to the latest 2021 statistics, further underscoring DIEZ’s pivotal role in strengthening the local economy and solidifying Dubai’s position as a global business and investment hub.
 


Story Code: 2965

News Link :
https://www.amacnews.com/en/news/2965/diez-reports-financial-growth-in-2024

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