Barakat Palace Fz Dev. formed  in June 2000 with the aim of assisting developing economies through the wealth of knowledge gained by its founder who has worked in the Port, Free Port, Free Zone and Free Trade Zone environment for over 30 years. He is commonly referred to as Mr Freezone, by others who recognize his vast experience in Free Zone Operations and Management.

 

As the Oil Rich Nations of the Arab Gulf began to realise that the economic benefits of an oil based economy were limited to the life span of the oil reserves they began to diversify and invest heavily in infrastructure.

 

One such place and location was UAE. At the time we have been employed by the Sharjah, Ajman and Dubai Governments  and have been fast carving out a name and reputation as a highly professional and productive business developer. This was recognised by the Dubai Government and they invited Tony to join the ‘Launch Team’ for the much heralded Jebel Ali Port. Dubai already had an existing and successful Port (Port Rashid – in Dubai City) and many doubted the sense and ability to succeed in such a competitive environment. Port Rashid had over 35 Berths and was by no means under pressure with utilisation. In fact the entire population of the UAE (in those days around 1.2 Million) could have been served by the one port. Of the seven UAE – Emirates every Emirate had its own port (Sharjah was the First Port to have two Ports – One inside the Gulf and One outside the strategic Straits of Hormuz).  

 

Much of the UAE Trade was based on ‘Transhipment Business’ which accounted for over 75% of its freight throughput volumes (serving Iran, Iraq and neighbouring Countries).