Hosting 60 hedge funds, the Dubai International Financial Centre (DIFC) ranks among the top 10 hedge fund hubs globally and aims to break into the top five.
During the Future of Finance event, hosted by Bloomberg, Arif Amiri, CEO of DIFC Authority, highlighted how Dubai’s business-friendly environment continues to attract global talent.
The centre’s workforce has doubled to 44,000 since 2020, with over 6,000 companies now based in DIFC, Amiri said. This business ecosystem is supported by favourable regulations and strong global appeal. The influx of people and businesses includes some of the biggest hedge funds, from Millennium Management to Balyasny Asset Management.
The centre has further supported the growth of new businesses, having built an ecosystem of 100 fintech and innovation-driven companies,
“Our innovation proposition is the most comprehensive in the region,” Amiri said during his opening speech. “Investors are confident that our unique positions puts innovation companies on a firm footing. This has helped DIFC-based innovation firms attract over $3.5 billion.”
Amiri further stressed the worth of family businesses and the wealth management sector, which has seen significant growth over the past year. In 2023 alone, the number of registered foundations — a vehicle commonly used by wealthy families — in Dubai rose by 53%.
“Family businesses contribute significantly to Dubai’s economy,” Amiri noted during his opening speech. “The DIFC is home to over 120 families and 800 family-related structures and entities who manage more than $1.2 trillion in assets.”
These achievements align with Dubai’s D33 agenda to become one of the world’s top four financial centres by 2030
