Ahmed bin Saeed: DIEZ achieves exceptional growth in 2024 financial results, strengthening its contribution to national economy

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), today announced that DIEZ has achieved significant financial and operational growth in 2024, further strengthening its role in Dubai's economy and aligning with the goals of the Dubai Economic Agenda D33. The Authority recorded a 35.5% increase in net profit compared to 2023, underscoring its success in achieving its strategic objectives.
DIEZ also reported an impressive 18.4% growth in revenue and a 7.8% increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in 2024 compared to previous year. These results underscore the growing impact of DIEZ and its affiliated economic zones, including Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity, in driving the non-oil economy and strengthening Dubai’s commercial ecosystem.

DIEZ 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, compared to 2023.
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.

H.H. Sheikh Ahmed bin Saeed Al Maktoum said: “These exceptional results reflect the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position Dubai among the world’s top three urban economies by 2033.”
“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 remain committed to empowering companies within our economic zones to elevate their competitiveness, ultimately contributing to the strength of Dubai’s economy and consolidating Dubai’s position as a regional and global hub for trade and as an exceptional investment destination,” H.H. added.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said: “DIEZ’s growth and achievements across diverse sectors highlight its strength and the successful implementation of its strategy, which is built on sustainability, innovation, and knowledge. These results are not only a product of our continuous efforts, but also a testament to the thriving economic environment in Dubai, which has enabled DIEZ to continue expanding its contributions to the city’s economic prosperity in line with the vision of our leadership”.
“We are also proud to celebrate the remarkable achievements of our companies, such as Tradeling Holding, which has quadrupled its order volume since 2023, and Oraseya Capital, which was named the most active investor in the UAE for 2024. We are keen to continue providing more innovative solutions to strengthen Dubai’s economy and raise the level of services provided across all sectors,” Al Zarooni added.

In 2024, DIEZ successfully achieved its strategic initiatives, marking a series of significant milestones that have contributed to reinforcing Dubai’s position as a global investment hub, in line with the objectives of D33.
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 specialising 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 of these made through its Sandbox programme, which is 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 accounts for 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 further 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.