Dubai, United Arab Emirates, 19 August 2026 -- Oraseya Capital, the investment arm of Dubai Integrated Economic Zones Authority (DIEZ), has signed a Memorandum of Understanding (MoU) with NQubator, an innovation platform for early-stage tech venture creation, to establish a strategic framework supporting the identification, development, and investment readiness of early-stage technology startups in the UAE.

The MoU was signed by Hassan Waheed, Executive Vice President of Finance at DIEZ and Partner at Oraseya Capital, and Saeed Hamad Al Hamli, Founder and CEO of NQuBator, in the presence of senior representatives from both organisations.

The agreement aims to strengthen alignment between structured startup development programmes and venture capital investment processes, supporting the objectives of the Dubai Economic Agenda D33 to position the emirate as a global hub for the digital economy and advanced technologies.

Under the agreement, NQubator will refer selected startups from its programmes and ecosystem initiatives to Oraseya Capital for evaluation. These startups will have completed structured incubation and validation processes designed to enhance their commercial readiness and scalability.

Hassan Waheed said: “This strategic partnership reflects Oraseya Capital’s commitment to supporting high-potential technology startups and reinforcing Dubai’s venture capital ecosystem. Working with NQubator enables us to engage earlier in the startup journey, strengthen investment readiness, and support innovation-led entrepreneurship in line with our strategic priorities.”

Saeed Hamad Al Hamli, Founder and CEO of NQuBator, said: “Our partnership with Oraseya Capital represents a strategic step in strengthening the pathway from early-stage innovation to scalable, investment-ready ventures. At NQubator, our focus is on building and validating high-potential startups through structured incubation and ecosystem support. Connecting our founders with an institutional investor such as Oraseya Capital enhances their access to capital, expertise, and strategic networks, while contributing to a more integrated and mature innovation ecosystem in the UAE.”

Oraseya Capital will assess these opportunities in line with its investment strategy and due diligence framework. In parallel, it will engage with NQubator’s ecosystem through mentorship, advisory support, participation in demo days, evaluation panels, and other innovation-focused initiatives that contribute to founder development.

The agreement also provides a framework for potential co-investment opportunities, enabling NQubator or its affiliated investment partners to participate alongside Oraseya Capital in selected funding rounds.

This strategic partnership underscores a shared commitment to accelerating the transition of startups from incubation to investment readiness. It aims to strengthen the quality of early-stage companies entering the venture pipeline and enhance the effectiveness of the ecosystem that supports them, contributing to the long-term growth of a more competitive and globally connected technology sector in the UAE.

DUBAI, 23rd February, 2025 (WAM) – 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.

Dubai’s real estate and technology sectors received a significant boost as the Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) joined forces to accelerate the growth of the property technology (Proptech) sector. The partnership, formalised through a memorandum of understanding (MoU), aims to foster research, development, and innovation while enhancing ease of doing business in Dubai. It also aligns with the emirate’s broader goal of supporting start-ups, SMEs, and innovative enterprises in the real estate and technology industries.

The collaboration is a direct extension of the Dubai Research, Development, and Innovation (RDI) Grant Initiative, which was launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, in September 2024. One of the initiative’s four priority sectors—Cognitive Cities—focuses on Proptech, smart mobility, traffic management, and smart grids, ensuring that Dubai remains at the forefront of global urban and real estate innovation.

The MoU was signed at Dubai Silicon Oasis, a key innovation hub within DIEZ, by His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, and His Excellency Eng. Marwan Ahmed bin Ghalita, Director General of DLD.

His Excellency Dr. Mohammed Al Zarooni stated, “DIEZ is committed to fostering a dynamic environment for start-ups, SMEs, and innovative enterprises across emerging technology sectors. Dubai has established itself as a global hub for tech-driven entrepreneurship, and this partnership with the Dubai Land Department will further solidify its position as a leading destination for real estate innovation. This initiative directly contributes to the goals of the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy and place it among the world’s top three cities by 2033.”
 

His Excellency Eng. Marwan Ahmed bin Ghalita added, “Supporting proptech start-ups and SMEs is critical to Dubai’s vision of becoming a smart, future-ready city. Through this collaboration, we will enable the seamless adoption of advanced technologies, such as AI and blockchain, in the real estate sector. This also aligns with our Real Estate Evolution Space (REES) initiative, designed to position Dubai as a global leader in real estate innovation under the Dubai Real Estate Strategy 2033.”

Under the agreement, DIEZ and DLD will jointly develop and implement programs that accelerate the adoption of modern real estate technologies. Some of the core initiatives outlined in the MoU include:
Tech integration in real estate: Launching programs that encourage proptech adoption within start-ups, particularly those specializing in AI-driven real estate applications and blockchain-based property transactions.
Support for start-ups and SMEs: Prioritising early-stage proptech companies by providing them with resources, mentorship, and business development support.
Licensing & business support: DIEZ will offer business licenses, visa assistance, and flexible office spaces at the Dubai Technology Entrepreneur Campus (DTEC), the largest tech co-working hub in the MENA region.
Investment & funding: DIEZ will facilitate access to venture capital networks and investors through Oraseya Capital, its dedicated investment arm specialising in funding early-stage start-ups up to the Series B investment phase.
Training & mentorship: DLD will work with educational and professional institutions to develop proptech training programs, provide mentoring opportunities, and introduce interactive platforms for industry collaboration.
Market expansion: Assisting proptech firms in establishing operations and expanding into new markets, further strengthening Dubai’s reputation as a real estate innovation hub.

Tradeling Holding, the B2B e-commerce entity of the Dubai Integrated Economic Zones Authority (DIEZ), has signed a definitive agreement to acquire the MENA distribution business of Axiom Telecom. The signing, witnessed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, marks a landmark transaction that positions Tradeling as a key technology partner for global brands, with a projected annual revenue exceeding AED2 billion.

Further to the agreement, signed by His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, and Abdul Aziz AlBannai, Chairman of Axiom Telecom, Tradeling Holding will acquire 100% of A&T Holding FZCO, which owns Axiom’s key distribution businesses. These include Axiom Distribution FZCO (UAE), which specialises in technology distribution within the UAE and manages experience stores for leading mobile handset manufacturers; Axiom International Distribution FZCO (UAE), responsible for technology distribution in UAE free zones and global exports; and Axiom Telecom Saudi Arabia Co (KSA), which provides technology distribution services across Saudi Arabia and international markets.

Tradeling, headquartered in Dubai Airport Freezone (DAFZ), operates the MENA region’s largest B2B e-commerce platform. Serving over 50,000 customers, it has successfully grown its order volumes fourfold since 2023. In 2024, Tradeling successfully shipped 3.3 million units, with expectations to surpass 3.5 million units by year-end. As a subsidiary of DIEZ, Tradeling leverages the authority’s strategic vision, fostering innovation and driving economic growth in Dubai and beyond.

Commenting on the acquisition, His Excellency Dr. Mohammed Al Zarooni, said: “This acquisition is a milestone in Tradeling’s journey to redefine the B2B e-commerce landscape in the Middle East. Through Tradeling’s robust digital capabilities and Axiom’s established distribution networks, we are creating a powerhouse that will deliver unmatched value to businesses across the region. This landmark transaction aligns with the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033. Moreover, Tradeling is set to continue driving significant growth and attracting global businesses seeking to establish a presence in the Middle East."

"Tradeling’s focus on building a more efficient and interconnected marketplace, will contribute significantly to Dubai's vision of becoming a dynamic hub for trade, innovation, and digital commerce. This transaction will facilitate the seamless movement of goods and services, enhance trade connectivity, and elevate the overall business environment in the region,” Al Zarooni added.

Fahad AlBannai, Chief Executive Officer of Axiom Telecom said: “For over two decades, Axiom has been a trusted name in technology distribution across the GCC. This transaction represents an exciting new chapter, allowing Tradeling to leverage our established infrastructure and market expertise to elevate its business offering. We are proud to see our legacy continue as part of Tradeling’s ambitious growth strategy.”

Alastair Croker, Chief Executive Officer (CEO) of Tradeling, added: “By integrating Axiom Telecom’s distribution business into our operations, we are not only scaling our capabilities but also reshaping the technology distribution landscape across the MENA region. This strategic move enables us to provide access to global brands while leveraging our platform to empower businesses of all sizes to succeed in an increasingly competitive market. At Tradeling, we are dedicated to positioning Dubai as a hub for advanced trade and commerce while fostering a stronger, more connected ecosystem that enables businesses to thrive.”

This acquisition aligns with Tradeling’s mission to provide cutting-edge solutions in marketplace, distribution, warehousing, and logistics. By integrating Axiom’s expertise in technology distribution, Tradeling will further expand its service capabilities and client base, enhance supplier relationships, and drive innovation in the region’s B2B ecosystem.

Under the patronage and in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), the WORLDEF Dubai 2024 forum, the world's largest digital commerce event, commenced today, bringing together over 5,000 attendees from more than 40 countries.

Hosted by Dubai CommerCity, the region's first and leading free zone dedicated exclusively to digital commerce and a joint venture between DIEZ and Wasl Properties, the event is organised by WORLDEF, an international platform committed to supporting the global expansion and growth of cross-border e-commerce and digital commerce companies.

The two-day forum provides a unique opportunity for collaboration, knowledge sharing, and obtaining insights into emerging trends. It also facilitates the exchange of expertise among government officials, CEOs, and thought leaders on the future of digital commerce, artificial intelligence, e-commerce trends, sustainable logistics, and investment opportunities.

The opening ceremony was attended by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; His Excellency Murodali Alimardon, Deputy Prime Minister of Tajikistan; His Excellency Abdullah Al Basti, Secretary General of The Executive Council of Dubai; His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ and Chairman of the Board of Dubai CommerCity; His Excellency Tugay Tunçer, Ambassador of Turkey to the UAE; His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; His Excellency Hesham Al Qassim, CEO of Wasl Asset Management Group; Omar Nart, CEO of WORLDEF, along with representatives from leading international digital commerce companies.

Also in attendance were His Excellency Sherali Kabir, Minister of Industry and New Technologies of Tajikistan; His Excellency Kurbon Hakimzoda, Minister of Agriculture of Tajikistan; His Excellency Halimzoda Abdulrahman, Deputy Chairman of the Executive Office of the Administration of the President of Tajikistan; and His Excellency Syed Muhammad Raziff Aljunied, Consul-General of Singapore in Dubai, as well as ambassadors from Mexico, the Dominican Republic, Panama, Argentina, Tajikistan, and Colombia.

In his opening address at the forum, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said: “E-commerce has emerged as a cornerstone of the global economy, transforming industries and redefining consumer experiences over the past 25 years. This year, global e-commerce sales are expected to surpass $6.4 trillion, with mobile commerce accounting for nearly $2 trillion of that total. In 2024, online purchases will represent 20% of all retail sales—a testament to how deeply digital trade has become embedded in our lives, fuelled by widespread internet access and mobile connectivity.”

“The UAE has long recognised the transformative potential of e-commerce. This is why we continue to invest in infrastructure to advance digital commerce across the Middle East and beyond, including the development of Dubai CommerCity—the region's first and leading free zone exclusively dedicated to digital commerce,” Dr. Al Zeyoudi added.

His Excellency Murodali Alimardon, Deputy Prime Minister of Tajikistan, delivered a keynote speech on the National Development Strategy of the Republic of Tajikistan 2030. He emphasised the strategy's goal of enhancing the standard of living for citizens through economic development. He also highlighted the country's key economic enablers, such as infrastructure and natural resources, while addressing global advancements in digital trade and Tajikistan’s readiness to forge strategic partnerships in this sector.

Strategic Role
His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ and Chairman of the Board of Dubai CommerCity, said that hosting the WORLDEF Dubai 2024 Forum, one of the leading events in digital commerce, reflects Dubai CommerCity's commitment to advancing the sector's strategic role in driving non-oil economic growth, in alignment with the Dubai Economic Agenda D33.

Dr. Al Zarooni highlighted the remarkable interest from stakeholders across the digital commerce landscape, as evidenced by the forum's strong participation and its distinguished lineup of speakers representing leading global companies. He noted that this high level of engagement underscores Dubai’s status as a global trade hub, its critical role in supporting the sector's anticipated growth, and its strategic importance in the interconnected fields of global trade, logistics, and related services.

A Strong Partnership
His Excellency Tugay Tunçer, Ambassador of Turkey to the UAE, underscored the significance of the robust trade ties between the UAE and Turkey, highlighting the UAE’s position as Turkey’s largest trading partner within the GCC. He emphasised the importance of strengthening trade cooperation between the two nations, given their roles as key regional business and aviation hubs.

Omar Nart, CEO of WORLDEF, said: “We gather in Dubai—a global hub of innovation and trade—to shape the future of commerce. WORLDEF Dubai 2024 forum is a unique platform, bringing together leaders and visionaries to discuss opportunities and challenges in a rapidly changing digital economy. This year’s focus, ‘Driving Global Trade Through Partnerships and Innovation’, highlights the power of collaboration. We thank Dubai CommerCity for the support and for hosting this important forum.”

Promising Indicators
The forum’s first day featured a fireside chat with His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, focusing on the digital economy and its critical role in driving economic growth. Lootah discussed the UAE Digital Economy Strategy, which aims to double the digital economy’s contribution to the nation’s GDP—from 9.7% in 2022 to 19.4% over the next decade.

He also highlighted initiatives launched by the Dubai Chamber of Digital Economy to support local emerging technology companies, attract global enterprises, and establish a regulatory framework to address challenges. These efforts aim to accelerate the growth of the digital economy and position Dubai as a prime destination for digital businesses, contributing significant economic value to the region.

His Excellency Lootah also expressed confidence in the sector’s future, noting that growth in the GCC and the UAE is currently exceeding expectations, supported by strong economic indicators that signal sustained upward momentum.

The Dubai Integrated Economic Zones Authority (DIEZ) has launched its strategic human resources (HR) plan for 2024-2026, marking a significant milestone in DIEZ’s journey to develop a comprehensive HR system. This system aims to create a work environment that enhances the performance of human resources and talents within DIEZ and its affiliated economic zones, thereby increasing employee loyalty and retention.

This HR strategic plan aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to advance government operations and systems and improve the quality of life, positioning Dubai among the top three cities globally in terms of living standards.

The strategic plan is built on five main pillars: investing in staff, developing an optimal work environment, increasing levels of Emiratization, adopting the most effective and advanced systems, and leveraging human resources as business developers. This step aims to accelerate operations, support clients, enhance economic savings, and adopt modern technologies, fostering a positive, constructive, and flexible work environment that meets the demands of future jobs.

Yousuf Behzad, Chief People & Organizational Development Officer at DIEZ, said: “DIEZ is committed to adopting various plans and strategies to enhance and sustain a flexible work environment within the Authority and its affiliated economic zones. This involves identifying human resources requirements, especially in light of the increasing reliance on AI technologies, ensuring we anticipate and meet the demands of future jobs. Implementing advanced technologies such as AI is a top priority for our human resources department, as it aims to improve the quality, speed, and efficiency of government services. Additionally, this enables UAE talents to achieve their full potential in various fields through ongoing support, training programs, and qualifications.”

DUBAI, 30th October, 2024 (WAM) -- The Dubai Integrated Economic Zones Authority (DIEZ) has launched its strategic human resources (HR) plan for 2024-2026, marking a significant milestone in DIEZ’s journey to develop a comprehensive HR system. This system aims to create a work environment that enhances the performance of human resources and talents within DIEZ and its affiliated economic zones, thereby increasing employee loyalty and retention.

This HR strategic plan aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to advance government operations and systems and improve the quality of life, positioning Dubai among the top three cities globally in terms of living standards.

The strategic plan is built on five main pillars: investing in staff, developing an optimal work environment, increasing levels of Emiratisation, adopting the most effective and advanced systems, and leveraging human resources as business developers. This step aims to accelerate operations, support clients, enhance economic savings, and adopt modern technologies, fostering a positive, constructive, and flexible work environment that meets the demands of future jobs.

Yousuf Behzad, Chief People and Organisational Development Officer at DIEZ, said, “DIEZ is committed to adopting various plans and strategies to enhance and sustain a flexible work environment within the Authority and its affiliated economic zones. This involves identifying human resources requirements, especially in light of the increasing reliance on AI technologies, ensuring we anticipate and meet the demands of future jobs. Implementing advanced technologies such as AI is a top priority for our human resources department, as it aims to improve the quality, speed, and efficiency of government services. Additionally, this enables UAE talents to achieve their full potential in various fields through ongoing support, training programmes, and qualifications.”

“With the launch of this strategic plan, which aligns with the objectives of Dubai’s Quality of Life Strategy for 2033, approved by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of Dubai Executive Council, we aim to achieve new levels of employee satisfaction at DIEZ. This will be accomplished by adopting innovative concepts in government innovation to develop human capital and encourage both national talents and global innovators. This approach reinforces workplace and community well-being, ensures professional and personal development, and enhances the authority's and its economic zones' position among the best workplaces in the UAE, particularly in Dubai. Ultimately, we support the vision of making Dubai a global city of innovation and creativity,” Behzad added.

DIEZ is committed to increasing Emiratisation rates within the authority and its economic zones as part of its strategic priority to develop a robust human resources ecosystem. The authority aims to achieve several key objectives in this area, particularly by preparing UAE nationals for leadership and senior roles, which currently boast an Emiratisation rate of 88 percent.

Dubai’s strategic location, coupled with its world-class infrastructure, business-friendly policies, and stable economy, has made it a highly attractive destination for global investors. Its tax-advantaged environment and proximity to both Eastern and Western markets offer numerous advantages.

The global hub for business and tourism unveiled an ambitious $8.7tn (Dhs32tn) economic plan in January. Dubbed the Dubai Economic Agenda (D33), the initiative seeks to solidify the emirate’s status as a strategic economic gateway by doubling foreign trade and investment over the next decade.

Dubai, home to more than 28 economic free zones, has embarked on reforms to enhance economic competitiveness, GDP growth, and stability while promoting economic diversity.

The economic free zones have significantly contributed to growth and entrepreneurship by creating a favourable business environment. To strengthen Dubai’s position as a global economic hub and attract more investments, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, created the Dubai Integrated Economic Zones Authority (DIEZ) in 2021, consolidating and integrating the products and services of Dubai Airport Free Zone (DAFZ), Dubai Silicon Oasis (DSO), and Dubai CommerCity, a joint venture between DIEZ and Al Wasl Properties.

His excellency Dr Mohammed Al Zarooni, executive chairman of DIEZ, emphasises that the three economic free zones play a crucial role in diversifying the economy, fostering innovation, and boosting growth, which aligns with the D33 initiative.

“The DIEZ plays a strategic role in the realisation of the D33, which aims to double the size of Dubai’s economy over the next decade. DIEZ’s three integrated economic zones – Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – are key contributors toward this agenda and play a unique role in consolidating Dubai’s position among the top three economic cities in the world,” says Al Zarooni.

While DAFZ offers seamless global connectivity, thanks to its strategic location adjacent to Dubai International Airport (DXB), DSO has been instrumental in driving innovation in the emirate as the Dubai CommerCity is positioning the city as a global hub for digital commerce and supporting the region’s growing e-commerce market.

“Since its establishment in 2021, DIEZ has significantly evolved to align with the Dubai Economic Agenda. We have launched several initiatives, including Oraseya Capital, which is our venture capital arm, to support startups and SMEs,” explains Al Zarooni.

“Our focus has expanded to include the integration of AI and smart city solutions, further enhancing operational efficiency and sustainability. These efforts have solidified DIEZ’s role as a key player in Dubai’s economic landscape, driving innovation, economic diversification, and sustainable growth.”

Historically, oil exploration and production have been the cornerstones of GCC economies. However, the region is now actively diversifying its economy and exploring new growth avenues beyond its traditional reliance on fossil fuels.

Among the GCC region’s oil-producing states, Dubai stands out as the most successful in diversifying its economy. Since the 1970s, the emirate has made significant strides in transforming itself into a thriving global hub with a promising economic future. “By fostering a business-friendly ecosystem and continuously improving our services, we ensure that Dubai remains an attractive destination for global investors, thereby boosting the emirate’s investment attractiveness,” says Al Zarooni.

DUBAI,16th September, 2024 (WAM) -- Dubai Airport Free Zone (DAFZ), a member of the Dubai Integrated Economic Zones Authority (DIEZ), has announced a strategic partnership with the 2024 edition of Red Bull Basement.

This partnership aligns with the free zone’s commitment to elevating UAE innovators' positioning on a global stage.

The initiative empowers the next generation of innovators to conceive, develop, and launch their groundbreaking ideas, accelerated by AI technology. Each team that applies will have the opportunity to create its own business plan.

DAFZ will provide direct support to the teams participating in the event by awarding the first- and second-place winners membership in "Scality," DAFZ's unique, innovative startup programme, which enables them to establish and grow their businesses in the region.

Additionally, the winning teams will secure a spot in "SANDBOX," DIEZ’s accelerator programme dedicated to fostering tech startups, which is part of Oraseya Capital, the venture capital investment arm of the Authority. The first-place team will also have the opportunity to receive investment for their project.

This initiative underscores DAFZ's commitment to nurturing innovative businesses and projects in the UAE, reinforcing its role as a key player in creating a supportive environment for successful ventures.

The national winners from the UAE will be invited to an immersive World Final in Tokyo, Japan. The application window is open until October 25, 2024.
Commenting on the partnership, Arif Al Khouri, Senior Vice President of Customer Care at DAFZ, said: “This initiative aligns with DAFZ's mission to support and nurture young talents and innovators, encouraging them to adopt the latest technological and smart solutions. Through this partnership, we are taking a significant step to reinforce our goals of empowering entrepreneurs, enhancing the investment ecosystem, and supporting companies and projects of all types and sizes, while strengthening Dubai’s status as a hub for creative talent and a global capital for innovation and investment.”

“We are thrilled to partner with Red Bull Basement for this transformative initiative. We believe the youth of today are the leaders of tomorrow, and this event provides a unique platform for young innovators to bring their ideas to life. We look forward to witnessing the revolutionary ideas that will emerge and remain committed to supporting future leaders in turning their ideas into successful ventures," Al Khouri added.

Through this year’s instalment of Red Bull Basement, a new wave of innovators will leverage AI to create a business plan, find opportunities, identify and prioritise potential growth areas, and enable their state-of-the-art ideas.

From September 1 through October 25, one- or two-member teams of students and innovators from the UAE can visit the Red Bull Basement website [https://www.redbull.com/mea-en/events/red-bull-basement-uae], where the easy-to-use AI tool will help them to create and submit a one-page business plan as their application. A panel of local judges will select the top teams for the national final, with the winner representing the UAE at December’s Global Final.

From November 12 through December 1, the national-winning teams will unlock resources, including the chance to collaborate with mentors and experts, as well as AI technology, to further develop their business plan and evolve their ideas toward readiness as a business start-up.

From December 2 through December 5, the World Final will bring together finalists from 40 countries for an immersive event in Tokyo. Featuring workshops, a dedicated AI session, and networking with international entrepreneurs, visionaries and business leaders, the World Final will culminate with in the announcement of the global winner of Red Bull Basement 2024.

Red Bull Basement 2024 is collaborating with Microsoft, AMD, Dubai Airport Freezone and DIFC Innovation Hub for its sixth edition, focusing strongly on AI technologies to deliver the best possible experience. The Red Bull Basement Chatbot, powered by Microsoft, will use Azure OpenAI Service and AMD Instinct accelerators to assist teams to develop ideas and create business plans.

DUBAI, 10th September, 2024 (WAM) – H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), announced the operational and financial results of DIEZ for the first half of 2024. Driven by high occupancy rates and solid performance across all business sectors, the results reflect remarkable growth in key strategic indicators, strengthening the position of the Authority and its economic zones – the Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity – at the heart of Dubai’s commercial landscape and non-oil economy.

The results show that DIEZ achieved a growth of 18 percent in net profit, 12 percent in total revenue, and 7 percent in operating profit in the first half of 2024, as compared to the results announced at the end of 2023. These results illustrate DIEZ’s steady and sustainable growth outlook.
These figures also coincide with the growth in the number of registered companies, encompassing local, regional, and global markets, operating within the DIEZ economic zones. The total number of such companies marked a 4 percent increase compared to the end of 2023. Additionally, these companies now employ over 78,000 specialised employees, reflecting a 12 percent growth from the previous year.
H.H. Sheikh Ahmed bin Saeed Al Maktoum noted: “The results of the Dubai Integrated Economic Zones Authority’s operational performance for the first half of this year clearly demonstrate its commitment to the ongoing development of its economic zones. This aligns with Dubai’s efforts to be a trendsetter in various sectors, including the free economic zones sector, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.”

Sheikh Ahmed added: “These positive indicators reaffirm DIEZ’s commitment to enhancing Dubai's esteemed and expanding role as a central hub in global trade and an attractive investment destination. Our comprehensive and integrated economic model, known for its exceptional flexibility and attractive incentives, offers companies robust opportunities for establishing, developing, and sustaining their businesses. This aligns with our goal to amplify the contribution of DIEZ’s economic zones towards achieving the objectives of Dubai's Foreign Direct Investment Development Program and supporting the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally.
Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said, “DIEZ’s impressive results are a natural outcome of the wise and ambitious economic policies pursued by the emirate of Dubai. The vision and guidance of our leadership has always helped us uncover promising new opportunities with an emphasis on future foresight and being the best in various vital sectors while providing abundant incentives and attractive benefits.”