DMCC proving popular draw

The Dubai Multi Commodities Centre (DMCC) is continuing to prove incredibly popular with investors.

Core, UAE Associate of Savills’ DMCC office has seen an increase in acquisition demand since the turn of the year, indicating a decisive shift in the DMCC office market sentiment to one of opportunity and optimism. “We have witnessed an 8% growth in the amount of space transacted in Q1 2016 vs Q1 2015,” said Joel McQueen, Director of DMCC office.

Core, UAE associate of Savills, is now in its third year of a partnership with DMCC as its real estate brokerage partner for the freezone, last year assisting in the leasing of 192,000 sq. ft. of office space to 146 companies, including global brands Emerson, Electrolux and Oxford University Press.

Mr McQueen explained: “Despite the global economic outlook, we don’t see a slowdown in momentum of new companies establishing in DMCC. This is for a number of reasons; in addition to its salient features as a central business hub with world class infrastructure, DMCC over the last few years has invested in and implemented a substantial eGovernment strategy, streamlining the licensing process and establishing new PPP partnerships like our own to drastically simplify and expedite the procedures for companies looking to set up in the DMCC freezone.”

DMCC was formed in 2002 by the Dubai Government and is officially recognized as the largest freezone in the United Arab Emirates with over 10,000 registered companies under license.

As one of the largest UAE property services firms, Core Real Estate, the Savills associate, combines unrivalled local market insight with the international strength provided by 600 global offices.

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