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DMCC Sees 1,868 New Incorporations in 2018 and a Record-Breaking Year

PUBLICATIONS / Articles / 2019 / DMCC Sees 1,868 New Incorporations in 2018 and a Record-Breaking Year
Dubai-based premier free zone, Dubai Multi Commodities Center, DMCC, has welcomed 1,868 new free zone company incorporations in 2018, notching a 12 per cent year on year growth.

The free zone also notes the ongoing expansion developments, Uptown Dubai, to accommodate the anticipated spike in demand in the years to come, solidifying its status as the region’s preferred destination for companies to setup, grow and succeed.

The economic impact of DMCC member companies is significant to the GDP of the emirate and with an ever-increasing number of companies joining the ranks of the over 15,000-strong companies in the DMCC, the free zone’s influence and footprint in facilitating trade flows of a variety of commodities sets to grow even further in 2019, on the back of strong results in the year ending 2018.

DMCC’s Dubai Gold and Commodities Exchange recorded a high of aggregate 22.26 million contracts valued at AED 1.744 trillion, a 28 per cent increase compared to the previous year; and a total value of AED 126 billion worth of transactions through the DMCC Tradeflow.

The free zone authority has also signed 10 memoranda of understanding with foreign institutions in 2018, and is set to strengthen bilateral relations and reap the benefits of knowledge-sharing and enhanced cooperation with other international entities, laying the foundation of even higher growth in DMCC and beyond.

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