Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has announced record financial results for 2024, coinciding with celebrating 20 years since its establishment, and continues to bolster Dubai’s position as the region’s financial services capital.
The centre, established in 2004, now houses 6,920 active companies, up from 5,523 companies in 2023, a substantial 25% increase. DIFC attracted 1,823 new registrations, which is the highest ever number recorded in a year, showcasing historic growth of 25%, DIFC said in a statement.
Combined revenues for 2024 have shown the greatest leap since the inception of the centre, reaching AED1.78bn ($484m), 37% higher than 2023’s record-breaking performance; and operating profit grew to AED1.33bn, up y-o-y by 55%.
DIFC governor Essa Kazim said, “Over the last 20 years, DIFC played a leading role in transforming Dubai and the UAE’s economic landscape, in line with the Dubai Economic Agenda. DIFC’s Strategy 2030 continues to position us as the top global financial centre in the region and as one of the world’s leading financial centres.”
Further, DIFC Authority CEO Arif Amiri said, “DIFC continues to fortify its position as the region’s number one global financial centre, having welcomed organisations and talent who share our vision to drive the future of finance. As we look ahead, we will continue collaborating with our clients and industry, develop infrastructure, evolve laws and regulations, and nurture innovation to ensure we continue enhancing Dubai’s reputation as the region’s number one global financial centre.”
At present, there are 125 insurance and reinsurance-related companies operating out of the DIFC including five of the world’s highest ranked insurance brokers. M