03 Aug DMCC: The Greatest Free Zone on Earth
Dubai Multi Commodities Centre (DMCC) is the epicenter of all things related to global trading. It’s the most perfectly placed Free Zone in the world with all leading business hubs being less than eight hours away. Having its headquarters in Dubai, it is the most attractive property offering state-of-the-art business services and excellent neighborhood spaces. This is the place for the enterprising person to live and work and engage in a symbiotic story of growth and development.
A Brief History
DMCC came into existence in 2002 with the aim to create a space to meet the global market needs. It emerged as the leading center for trade, enterprise, commodity hub, and channelized trade flows.
DMCC is not just the largest free zone in the UAE, globally it is the greatest and most reputable place for trade. Right from its inception, its focus on customer experience, technological innovation, and diversifying business opportunities have made it what it is today.
This place is home to one of the world’s largest gold markets and diamond trading centers. This single physical trading space accounts for 75 billion US Dollars annually. It’s rare to find such physical markets anywhere else in the world.
Dubai is the most well-connected place in the world. Traveling just eight hours on the flight will give anyone access to 65% World GDP and reach out to the two-third global population.
How Big is DMCC?
The Jumeirah Lakes Towers (JLT) comprises of a whooping 200-hectares area of a free zone for commercial and living purposes. There are 68 Towers in this zone with 100,000 people living and working as part of the community. The towers are spread into clusters of three with lakes and lush greenery. There’s a total of 55,000 sq m.of community park in the area. There are 600 plus retail outlets and almost 60,000 employees working for 17,500 plus companies.
Uptown Dubai is the next big offering from DMCC with an additional 10 million square feet space. This will also be used for business and residential purposes with a vast array of retail options. There will be F&B outlets, entertainment zones, and luxury hotels in the new area. The plan is to have 3000 residencies and 200 retail outlets with a central plaza for entertainment. The entire place is being designed by the architects Adrian Gill and Gordon Smith.
DMCC’s Motto: Made For Trade
There is a reason why DMCC means business and is the greatest trading zone on earth. From having specially designed beverage centers to having diverse trade platforms and being home to Fortune 500 companies, DMCC has it all.
Designated Tea & Coffee Trading Centres
DMCC has made its mark as a nodal point for the beverages industry. The DMCC Tea Centre deals with 53 million kilos of tea annually. UAE has now come to be the largest re-exporter of tea in the world with a total 60% share in the market. On the other hand, the DMCC Coffee Centre has thrown open its doors in 2019. This is the only such center in the entire Middle East with all the modern and sophisticated technology installed in the facility.
The goal is to offer the most economical services and related logistical infrastructure to bring together buyers and sellers from around the world. Responding to increased demands from the market, the Centers plan to triple the capacity and output in the coming years.
Diverse Trading Platforms
The DMCC is home to the Dubai Gold & Commodities Exchange, Dubai Diamond Exchange, Dubai Pearl Exchange & DMCC Tradeflow. These companies who are part of DMCC, as well as industry participants, can enjoy free access to all these facilities. The perks of being associated with them mean availing the online platform to register and own commodities in UAE’s storage facilities.
DGCX is DMCC’s very own derivatives exchange facility. It has traded 22.26 million contracts worth 474.94 billion US Dollars breaking all its previous records. There has been a sharp rise of 28% in trading volume which beat its previous record of 448 billion US Dollars in 2013.
Home to Globally Reputable Firms
World-famous corporations that include Colgate-Palmolive, Carrera Y Carrera, American Express, Eurofins, Lukoil, Nutricia Danone, Rio-Tinto-Dimexon, Dyson are part of the DMCC family. Other companies include Alcatel Lucent Middle East & North Africa, John West Foods, LVHM, TAG Worldwide, Oddfjell.
DMCC is happy to be house some of the Global & Fortune 500 companies like Philips 66, Sanofi, Tata, Harley Davidson. The list also includes Whirlpool, Reliance Industries, Nippon, Viacom, Glencore, Honeywell, World Fuel Services, Sinopec Group, Total, China State Construction, and many more.
Blending Trade With Technology
DMCC brings home the latest and most sophisticated technology to everyone associated with it. All paperwork has been made online by DMCC’s exclusive Salesforce technology. Through the DMCC Member Portal, the members can open a company and remotely access DMCC services from anywhere on the globe.
It has also inaugurated the Middle East’s first-of-its-kind Google For Entrepreneurs Global Tech Hub with AstroLabs Dubai. This Hub is a place for Startups to upgrade and scale up their business ventures. It is also equipped with the most modern mobile device development lab. DMCC is proud to say that Google has considered the property ideal for setting up this facility.
Winner Of The Most Coveted Awards
DMCC is proud to announce that it has succeeded in grabbing the most prestigious awards in the industry over the years. It has been ranked number 1 among 85 Free Zones as part of the fDi’s Global Free Zones of the Year Awards 2019. But this is not the first time that they have come first. The Financial Times fDi Magazine has been awarding this first prize for five consecutive years, which is a record for any Free Zone. DMCC has scored brilliantly on all fronts, from growth & plans for expansion to extraordinary performance from the presence of the world’s best companies.
DMCC Tradeflow won the Facilitating Most Innovative Structured Transaction Award & Deal Of The Year Award in 2007. It again won the Global Islamic Finance Award in 2014. DSAM Kauthar Commodity Fund won the Best Fund-of-Funds Award in 2010.
The DMCC Free Zone is home to a vast array of businesses and commodities, apart from retail chains and office spaces. It houses everything from shipping to IT, advertising to universities, and more. With a strong focus on consolidating and solidifying trade ties around the world, it aims to grow and expand even more. DMCC always has an eye for change and up-gradation and doesn’t shy away from the competition. This is what makes it the No.1 Free Zone in the World. Please visit www.dmcc.ae for more information.