Business

Dubai's Business Park registers 650 new firms as stimulus packages pay off

Dubai's Business Park registers 650 new firms as stimulus packages pay off

Dubai: Dubai South said its Business Park free zone attracted 650 new companies as well as leased 945,488 square feet of space in 2020 as measures aimed at supporting businesses paid off.

“In light of the impact of COVID-19 on the business landscape last year, Dubai South rolled out an array of stimulus packages to support its growing business community and to help clients at the Business Park and Business Centre mitigate challenges arising from the circumstances,” the company said in a statement.

These stimulus packages helped the Business Park retain 90 per cent of companies operating within it, the statement added.

“We are pleased to see that the market has started to return to pre-pandemic levels and that our Business Park surpassed our potential clients’ aspirations,” said Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation & Dubai South. “In an effort to meet growing demand, we are currently developing an additional floor in our Business Centre that will be ready by the end of Q1 2021,” he added.