Dubai International Financial Centre (DIFC) has reported record-breaking financial results for 2024, coinciding with its 20th anniversary and reinforcing Dubai’s status as the region’s financial capital.
DIFC now houses 6,920 active companies, marking a 25% increase from 2023. The centre recorded its highest-ever annual registrations, with 1,823 new companies joining in 2024. Total revenue surged to AED 1.78 billion (USD 484 million), reflecting a 37% increase from the previous year. Operating profit rose by 55% to AED 1.33 billion (USD 363 million), the highest in DIFC’s history.
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and President of DIFC, attributed this success to Dubai’s vision of becoming a global financial powerhouse. Essa Kazim, Governor of DIFC, emphasized DIFC’s role in shaping the UAE’s economic landscape, in alignment with Dubai Economic Agenda D33.
The technology and innovation sector saw significant growth, driven by the launch of the Dubai AI Campus. The sector expanded by 38%, housing 1,245 companies. The DIFC workforce also grew by 10% to reach 46,078 employees.
DIFC remains the region’s leading financial centre, with over 260 banking and capital markets firms, 410 wealth and asset management companies, and 125 insurance and reinsurance firms. The alternative investment industry continues to expand, with 75 hedge funds—48 of which belong to the elite ‘billion-dollar club.’
The centre has also taken a leadership role in sustainability, committing to Net Zero by 2045. Its commercial real estate properties operate at near-full occupancy, with further expansion planned.
DIFC’s continued growth underscores its status as a premier global financial hub, attracting leading firms and talent to Dubai’s thriving economic ecosystem.
News Source: Emirates News Agency
