Dubai International Financial Centre (DIFC), the Middle East, Africa and South Asia (MEASA) region’s leading global financial centre has reported its best annual performance to date.
The result, which reflects the success of strategic measures undertaken to grow the DIFC community under the directives of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and President of the Dubai International Financial Centre (DIFC), contributes significantly to the UAE's economy and positions the Centre as a significant player in the global financial industry.
DIFC further reinforced its global profile with a year of strong growth against the backdrop of the worldwide pandemic. The Centre achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021.
DIFC recorded 996 company registrations last year, the highest ever recorded in a single year for the Centre, a 36 per cent increase from 2020. The growth in company numbers is more than triple the average number across the last decade.
The total number of active registered firms increased by 25 per cent to 3,644 entities from 2,919 in 2020. A total of 1,124 financial and innovation related entities are now active and operating within DIFC, increasing by 23 per cent, versus 915 in 2020.
In 2021, DIFC also recorded its highest ever annual revenue and operating profit. Revenue increased by 16 per cent to AED897 million year-on-year versus AED774 million in 2020, and up by 7 per cent from AED838 million in 2019 (pre-pandemic levels).
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of the Dubai International Financial Centre, said: "DIFC’s best ever annual performance reflects Dubai’s position at the forefront of global recovery in the financial sector and the broader economy. The Centre’s ability to continue building a thriving financial community amidst a rapidly changing international environment demonstrates the far-reaching vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, which has enabled the emirate to create a strong economy fuelled by innovation."
#DIFC records best performance in 17-year history driving #Dubai’s next phase of growth, contributing significantly to the #UAE's economy and positions the Centre as a significant player in the global financial industry.
— DIFC (@DIFC) February 16, 2022
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