Dubai International Financial Centre has announced it's H1 2024 performance update which continues to solidify its reputation as a leading global financial hub, showcasing impressive growth and resilience in the first half of the year. This update highlights key metrics and developments that have shaped DIFC's success in this period, including its growth in financial activities, regulatory developments, and its role in fostering innovation within the financial sector.
DIFC is home to the largest cluster of financial firms in the region and provides world-class infrastructure, strong regulatory frameworks, and professional services to financial institutions and multinational corporations. DIFC has quickly become one of the world's leading financial centers, serving as a gateway for capital and investment flows between the Middle East, Africa, South Asia (MEASA) region, and the rest of the world.
The DIFC performance highlights include:
- 6,153 active registered companies are now based in DIFC, reflecting an impressive 24 per cent year-on-year growth.
- 820 registrations in the first six months of 2024, a 24 per cent increase on the same period last year.
- 1,081 FinTech and Innovation firms, increasing 33 per cent year-on-year.
- Assets under management exceed USD 700bn, an increase of 58 per cent.
- Funds being marketed in or from DIFC stands at 10,032, reflecting 31 per cent growth.
- To help meet the rising demand for real estate, we are bringing an additional 1.6mn sq. ft. of commercial space to market over the next three years.
You can read the full press release here
Conclusion
The first half of 2024 has been a period of robust growth and strategic development for DIFC. As it continues to innovate and expand, the center remains a pivotal player in the global financial landscape. Stakeholders and investors can look forward to continued growth and development, driven by DIFC's commitment to excellence and adaptability.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.