DIFC continues to drive the future of finance with outstanding H1 2024 results

July 30, 2024 08:55 PM AEST | By Cision

Google News:

DIFC continues to drive the future of finance with outstanding H1 2024 results — Image source: Kalkine Media

Recent News

Ian Lazar Lifestyle Magazine Confirm Running Features On Specialist Sy...

Rocket Lab Successfully Launches Third Mission for iQPS in Multi-Launc...

'Journey Through Time' is an enlightening exploration of RCIA by Laure...

“Life of Abuse to Success: A Child’s Story” is a poignant memoir of re...

DUBAI, UAE, July 30, 2024 /PRNewswire/ -- The Dubai International Financial Centre (DIFC), the leading global financial centre in MEASA region, announced outstanding results for the first half of 2024. Coinciding with its 20th anniversary, the results reinforce DIFC's growing role in driving the future of finance, and Dubai's position as a top global ecosystem for innovation and business growth.

Dubai International Financial Centre (DIFC)

The number of active registered companies in DIFC exceeded 6,000 for the first time, representing 24 per cent growth. A total of 820 new companies also joined DIFC in the first six months. Reflecting the Centre's focus on FinTech and Innovation, firms in these sectors grew by 33 per cent year-on-year. DIFC companies continue to attract talent from across the world and created 4,647 new jobs during the last 12 months. The total workforce now stands at 43,787.

DIFC is home to the largest cluster of financial firms in the region and outperforms the market for growth. Over 370 wealth and asset management firms, including more than 50 pure play hedge funds are now based in the Centre, originating primarily from the GCC, Europe, UK and the US. Assets Under Management in DIFC have increased by 58 per cent. The insurance and reinsurance sector now includes 125 companies, up from 110 which represents 14 per cent growth.

The recently launched Dubai AI Campus at the DIFC Innovation Hub will support the Centre's next phase of growth by accelerating AI adoption across all industries. The Dubai AI Campus offers dedicated co-working spaces to tech start-ups, including AI businesses, of which 75 businesses are already operating there. Phase two, which will see the campus expansion, is set to attract 500 companies and create 3,000 jobs by 2028.

DIFC introduced some of the world's most innovative laws to bring further confidence and market certainty to both FinTech and digital asset classes. Most recently, this included the world's first Digital Assets Law.

Properties owned and managed by DIFC continue to be in high demand. To address the high demand for A-grade, LEED certified commercial premises, DIFC will bring another 1.6mn sq. ft. of commercial space to market over the next three years. Most recently, the Centre broke ground on DIFC Square, a landmark development and commercial project comprising of three interconnected buildings, with handover scheduled for Q1 2026.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.