Dubai: Dubai International Financial Centre (DIFC) continued to consolidate its position as the leading global financial centre for the Middle East, Africa and South Asia (MEASA) region, a media release from the Dubai Government Media office said on Thursday.
Showcasing record breaking results in 2023, DIFC marked an exceptional growth rate of 34 per cent year-on-year (YoY) in new company registrations at 1,451 companies. Total number of active companies in DIFC grew by 26 per cent, and the hub is home to 5,523 firms.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of the Dubai International Financial Centre, said, “Two decades ago, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, articulated an ambitious vision to transform Dubai into one of the world’s leading global financial hubs. This vision has remained the cornerstone of DIFC’s sustained performance over the years. DIFC’s unprecedented growth in 2023 further consolidates Dubai’s status as the region’s foremost contributor to the global financial services industry.
“As DIFC continues its journey of success, its accelerated growth trajectory is perfectly aligned with the goals of the Dubai Economic Agenda D33 to double the size of Dubai's economy over the next decade and reinforce its status as one of the world’s top three cities for business and investment,” Sheikh Maktoum added.
DIFC is well on its way to double its GDP contribution by 2030, the release added, and combined revenues were close to Dh1.3 billion.
The hub is a major attraction for firms in the fintech and innovation sector, counting 902 companies at the end of 2023 – growing by 31 per cent YoY.
DIFC owned and managed properties recorded 99.5 per cent occupancy and the first residential offering, DIFC Living, sold out fully within 48 hours. Reflecting the strength of DIFC’s financial position, total assets were Dh18 billion, at an increase of 18 per cent.
Footfall to DIFC’s urban retail district Gate Avenue, increased 25 per cent to 12 million visitors, on the back of a growing number of events and the opening of 66 new food and beverage outlets and retail units.
The Centre launched the DIFC Talent Network to support the migration of talent into DIFC companies, as well as provide employment opportunities in other locations across the world where its clients have premises.
The total workforce grew to 41,597, a 15 per cent YoY increase, creating 5,514 new jobs.
