The Dubai International Financial Centre (DIFC) reported a 24% surge in active registered companies to 6,153 in H1 2024. This includes the addition of 820 new companies, with an uptick in firms from the fintech and innovation sectors, which grew by 33% to 1,081.
DIFC’s workforce expanded by 12%, reaching 43,787 employees. Assets under management in the Centre surged 58%, from $444 billion to $700 billion. The number of funds being marketed in or from DIFC also increased by 31%, rising to 10,032. The insurance and reinsurance sector saw a growth of 14%, with gross written premiums reaching $2.6 billion, up from $2.1 billion in 2023.
Property occupancy rates within DIFC-owned and managed spaces remained high at 99.6%, while third-party commercial office space saw an 89% occupancy rate. To meet increasing demand, DIFC plans to add 1.6 million square feet of commercial space over the next three years.
“Coinciding with the Centre’s 20th anniversary, DIFC’s achievements ensure the financial services industry continues to increase its contribution to the economy,” said Essa Kazim, Governor of DIFC. “We remain laser-focused on delivering DIFC’s Strategy 2030 by driving growth and shaping the future of finance, which will be achieved by keeping innovation at the top of our agenda.”
“DIFC’s consistently strong performance over the last 20 years, including the first half of 2024, solidifies our prominence as the number one financial centre in the Middle East, Africa, and South Asia,” stated Arif Amiri, CEO of DIFC Authority. “The Centre is now home to more than 6,000 companies and close to 44,000 professionals.
“This significant scale provides DIFC and its clients with an unrivalled opportunity to collectively drive the future of finance across the region.”
In addition to commercial growth, the DIFC launched the Dubai AI Campus to accelerate AI adoption, aiming to attract 500 companies and create 3,000 jobs by 2028. The Centre also introduced the world’s first Digital Assets Law, alongside substantial growth in entities related to family businesses and foundations.
DIFC is undertaking several major development projects, including Innovation One, DIFC Living & Innovation Two, Immersive Tower, and DIFC Square, which will add significant commercial and residential space.
