Dubai South Achieves New Heights in 2024 with the Addition of 415 New Companies

Dubai South, a pioneering urban mega-project focused on aviation, logistics, and real estate, continues to play a key role in realizing Dubai’s economic and urban vision. Designed to create a dynamic and integrated ecosystem for businesses and residents, Dubai South concluded 2024 with remarkable achievements across all its sectors. Rapidly transforming into Dubai’s premier commercial and residential hub, the region has experienced unprecedented growth in economic activities and infrastructure development. The report examines the key milestones of Dubai South in 2024, including a thriving commercial sector, significant Dubai real estate real estate expansion, major developments in logistics and aviation, and its unwavering commitment to growth, innovation and sustainable development.

Accelerating Business Development and Commercial Space Expansion in Dubai South

415 new companies registered in Dubai South in 2023, growing the number of active companies operating in the region to 4,044. The 94% renewal of current companies’ contracts is a testament to their satisfaction and confidence in Dubai South. Additionally, 46,500 square meters of office area in the Dubai South Business Park was leased, which is an incredible 300% jump from 2023.

Significant Growth in Dubai South’s Real Estate Sector

Dubai South’s real estate sector has also witnessed remarkable progress. The first phase of the Pulse Beachfront project, comprising over 200 residential units, has been completed, with an additional 500 units set to be delivered in subsequent phases by mid-2025. The South Living project received an overwhelming response and sold out in a short period. Construction has commenced, and contractors are actively working on its development.

Additionally, the GEMS Founders International School opened its doors, welcoming over 500 students. Furthermore, an agreement was signed with BT Properties, the largest private real estate developer in Asia, to construct a residential complex in the Golf District.

Significant Advancements in Dubai South’s Logistics and Aviation Sectors

Dubai South made substantial strides in its logistics and aviation sectors in 2024:

Logistics Developments:

• FedEx Regional Air & Ground Hub: This newly inaugurated hub enhances regional logistics capacity and service efficiency.
• Boston Scientific Distribution Center at Hellmann Calipar Healthcare Logistics Hub: This new facility establishes Dubai South as a key distribution center for medical equipment in the region.
• Construction of the New dnata Logistics Hub: This state-of-the-art facility will significantly expand Dubai South’s logistics capabilities.
• Successful Completion of the First Phase of Autonomous Vehicle Trials in the UAE in partnership with Evocargo: A major milestone in Dubai South’s commitment to cutting-edge transportation technologies.

Aviation Developments:

• The Mohammed Bin Rashid Aerospace Hub has attracted major international firms such as International Energy Resources (IER), ATS Technic, Liebherr Aerospace, SG Aircraft Maintenance Services, and Sun Air Aircraft
• Maintenance Services, establishing itself as a premier center for Maintenance, Repair, and Overhaul (MRO) and aircraft engine testing.
• Team Aerospace commenced construction of its new facility, while Jet Flight Services and Comlux launched new centers, highlighting the aerospace hub’s growth and vibrancy.

These developments have positioned Dubai South as a leading logistics and aviation hub and support Dubai’s vision to become a global hub for business and industry.

Commitment to Growth, Innovation, and Sustainable Development

Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, expressed his satisfaction with the achievements of 2024, stating:

“The influx of new companies and the high contract renewal rate reflect the strong confidence businesses have in Dubai South. Our ongoing success in aviation, logistics, and real estate underscores Dubai South’s pivotal role in supporting the government’s vision, economic diversification strategy, and future growth plans. We remain committed to fostering innovation, building world-class infrastructure, and driving sustainable development to meet the evolving needs of a dynamic business environment.”

With these achievements, Dubai South has cemented its position as a major driver of economic growth and sustainable development in the region and has taken bold steps towards a brighter future.

Conclusion

In 2024, Dubai South became one of the leading commercial and residential destinations with the launch of 415 new firms and impressive growth in key sectors. These figures are the result of meticulous planning, investment policy such as increased investment in the UAE and a strong emphasis on innovation and sustainable development. By providing world-class infrastructure, diverse services, and attracting global investors, Dubai South continues to lead the way in supporting Dubai to realize its vision to be a global business and trade hub.

Source: https://www.propertynews.ae