The Dubai Airport Free Zone (DAFZA) has seen a 23% increase in sales in 2010, compared with the previous year, according to its chairman HH Sheikh Ahmed bin Saeed Al Maktoum.

He said growth was driven by the increasing numbers of new companies and expansion by existing companies working in the freezone. Out of the 102 new companies registered in 2010 in the Freezone, 28% are from Europe, 27% from the Middle East & Gulf region, 21% from Asia and the rest from the USA, Japan and other countries.

Aviation companies form the largest segment in the freezone with 14%, followed by the electronics sector with 11%, followed by engineering, computer, cargo advisory services and consultancy companies.

The DAFZA was established within the boundaries of Dubai International Airport in 1996 and today its major areas of operations include trade, which represents 68% and the service sector representing 32%, which comes in line with the mechanics of the global economy in which trade plays the biggest part.

"The achievements in the past years are part of the unique strategy of the Freezone. The Freezone will continue to sustain performance, quality and development, helping it to enter the foreign markets in future, which is one of the objectives and priorities. We aim to achieve 20% growth in sales by the end of this year as compared to last year," he said.

"23% growth in sales of leasable spaces in 2010 for the European, Gulf and Asian companies in different sectors is a positive result which can be built on in the current year. This necessitates focusing on the industrial markets to attract more foreign investments," Ahmed added.