DMCC Records Strong H1 2024 Performance with 15% Share of Dubai’s FDI

Ummulkiram Pardawala -

DMCC, the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise announced robust performance results for the first half of 2024, registering 1,023 new member companies and bringing its total to nearly 25,000 companies.

The free zone now contributes 15% of Dubai’s foreign direct investment (FDI), up from 11% last year, and accounts for 7% of the emirate’s GDP.

In H1 2024, DMCC focused on consolidating its major real estate developments in Uptown Dubai and Jumeirah Lakes Towers (JLT), while expanding its ecosystems in high-value sectors like AI and Web3.

DMCC’s Executive Chairman and CEO, Ahmed Bin Sulayem, highlighted the free zone's role in supporting Dubai's position as a global trade hub, with DMCC now responsible for 15% of the city's FDI.

The first half of the year saw strong growth in technology, with 226 new tech companies joining DMCC, including AI and gaming firms. The DMCC Crypto Centre onboarded 64 new companies, marking an 11% membership increase. The energy sector also expanded, with 159 new companies joining, bringing the total to over 3,260.

DMCC’s commitment to sustainability was reinforced with the launch of the Sustainability Hub, promoting ESG best practices among its members. Additionally, DMCC is preparing to launch its new AI Centre in Uptown Tower, aiming to advance AI adoption and innovation.

The UAE’s diamond trade also saw significant growth, with DMCC’s Dubai Diamond Exchange recording a 12% rise in diamond trade volumes, reinforcing Dubai’s status as a leading trade hub for diamonds and precious stones.

In real estate, DMCC continued to expand its commercial and residential offerings in Uptown Dubai and JLT, with several new projects underway. The free zone’s efforts earned multiple industry awards for design, sustainability, and innovation.

As DMCC looks ahead, its focus remains on sustaining long-term growth, driving innovation, and solidifying Dubai’s position as a global leader in trade and commerce.

News Source: Dubai Media Office