JAFZA SIGNS AGREEMENT WITH EMAAR MALLS TO EXTEND ITS EXPERTISE BEYOND JEBEL ALI

DP World, UAE Region’s flagship free zone, will handle licensing, registration and visas for companies in Gold & Diamond Park

Dubai, United Arab Emirates, 2^nd of September 2020: The region’s most experienced and successful free zone operator, Jebel Ali Free Zone (JAFZA) has agreed to extend its expertise in licensing, visas and other related activities to Gold & Diamond Park, a free zone developed by Emaar Malls Group, the region’s leading shopping destination developer.

The regulatory services will be provided as part of the agreement signed by Mohammed Al Muallem, CEO & Managing Director of DP World, UAE Region, and CEO of Jafza and Bader Hareb,CEO, Emaar Development P.J.S.C.

Jafza will in future handle all regulatory activities such as licenses and registration for companies, individuals and other entities that conduct business activities at Gold & Diamond Park, in accordance with applicable laws. They will enjoy the full range of service benefits that support companies operating in Jafza.

Over 90 retailers and brands currently operating in Gold & Diamond Park as well as future business investors in the Park can be governed by Jafza’s Free Zone Rules, including licensing and fees structures, and will be required to comply with them.

Ahmad Al Haddad, Chief Operating Officer, Parks and Zones – DP World, UAE Region, said:“We’re both privileged and pleased to partner with a distinguished company like Emaar Malls Group to extend Jafza’s time-tested service excellence to Gold & Diamond Park. As the UAE and Dubai prepare for rapid shifts in a post-pandemic business environment, existing companies and new investors alike will demand new levels of support that takes care of all their licensing, registration, visas and other regulatory requirement, so they can focus on strategising their business plans with confidence. At Jafza, we have evolved a sophisticated and efficient legal infrastructure to meet all contingencies. We thank Emaar Malls Group for the trust they’ve placed in our capabilities and ensure our partners in Gold & Diamond Park an enhanced experience.”

Bader Hareb, CEO, Emaar Development P.J.S.C., said: “We are delighted to expand on our long-term partnership with Jafza, to provide high-quality services to both our retailers and customers for Gold & Diamond Park. We endeavor to ensure we are providing support and dynamic solutions to our tenants, especially in the current climate. Companies now have the option to hold 100 per cent ownership of their business in addition to extended employment visas of three years. Emaar Malls Group is honoured to work with such a reputable partner like Jafza and are excited to implement positive regulations to assist our retailers.”

An exclusive and thoughtful combination of 96 retail spaces, 108 purpose-built manufacturing blocks and 245 offices, Gold & Diamond Park, located on Dubai’s Sheikh Zayed Road, presents an advantageous proposition to jewellers and businesses in search of premium commercial leasing opportunities.

Established in 2011, Gold & Diamond Park is home to some of the world’s finest jewellery, gemstones, precious stones, gold, silver, platinum and high-end personal accessories, Gold & Diamond Park attracting both residents and tourists alike. Jafza is a dynamic base for over 8,000 businesses from 140 countries. As the region’s premier trade catalyst, it has evolved into a unique trade ecosystem that reduces cost, while enabling new opportunities for growth.

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About Jebel Ali Free Zone (Jafza)

Jafza is one of the world’s leading free trade zones and is home to over 8,000 multinational companies. Jafza accounts for 23.9% of total FDI (Foreign Direct Investment) flow ‎into Dubai, sustaining the employment of more than 135,000 people in the United Arab Emirates. In 2019, Jafza generated trade worth USD 99.5 billion.

Strategically located at the crossroads of a region providing market access to over 3.5 billion people, Jebel Ali Port and Free Zone create an integrated multi-modal hub offering sea, air and land connectivity, complemented by extensive logistics facilities. ‎The Port and Free Zone contributed 33.4% of Dubai’s GDP in 2017.

Jafza is the leading business hub between Asia, Europe and Africa, connecting some of the fastest-growing manufacturing and consumer markets globally. With over 30 years’ experience, Jafza focuses on long-term customer relationships, building alliances with global investors and providing world-class infrastructure and support. In addition to quality-driven value-added services and incentives, Jafza is a business opportunity enabler, offering its customers easy and efficient access to substantial business opportunities in the region.