DIFC Achieves Record Growth
DIFC is a financial hub for the Middle East, Africa and South Asia markets that has witnessed exponential growth in the previous year. With 437 new company registrations and a net profit of $88 million, 2018 was DIFC’s year.
DIFC experienced record growth in terms of new companies and is on its way to join the league of world’s top 10 financial centres. DIFC also plans to generate thousands of job by 2024.
According to Essa Kazim, chairman of DIFC Authority Board of Directors and governor of DIFC, , “The success of 2018 demonstrates that DIFC is clearly on track for our ambitious 10-year strategy to triple in size by 2024. The Centre is home to the largest cluster of financial institutions and most diverse pool of financial talent in the MEASA region.”
The number of active registered companies grew 15 percent to 2,137 in 2018 and an additional 314,200 sq. ft. of commercial space was leased.
DIFC is home to numerous renowned companies in the financial services industry. In 2018, various other big names were added to the thriving community, that include Al Ahli Bank of Kuwait, Berkshire Hathaway Specialty Insurance, Middle East Venture Partners, and State Street Global Advisors.
“We have seen increased momentum across all our key sectors, and particularly in fintech, wealth management and aviation financing, all benefiting from the evolving legal and regulatory environment we offer”, says Arif Amiri, CEO of DIFC Authority.
DIFC’s flexible business environment and top-notch infrastructure have contributed significantly to Dubai’s positioning as a preferred business and lifestyle destination.