PR94573

DUBAI, UAE, Feb 17, 2022, /PRNewswire=KYODO JBN/ --

Dubai International Financial Centre (DIFC), the Middle East, Africa and South

Asia region’s leading global financial centre has reported its best annual

performance to date.

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% 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 operating in DIFC increased by 25% 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%,

versus 915 in 2020.

Amongst its 3,644 entities, DIFC is home to 17 of the world’s top 20 banks, 25

of the world’s top 30 global systemically important banks, five of the top 10

insurance companies, five of the top 10 asset managers and many leading global

law and consulting firms.

Significant growth has been achieved across business sectors, including

banking, capital markets, wealth and asset management and professional

services. Exponential numbers of new clients came from the FinTech and

Innovation sectors. In 2021, these increased to 503 from 303 in 2020.

Notable firms joining DIFC in 2021 included: Air Liquide Middle East & India

Holding Limited, BentallGreenOak Advisors (UK) LLP, DP World Financial

Services, Dual Corporate Risks Limited, General Reinsurance AG, Howden

Insurance Brokers Limited, Hines, Mamopay, Richemont and Thunderbird Global

Innovation Center.

Employment grew by 11% to 29,700, with a net increase of around 3,000

employees, indicating the highest net growth in over a decade. These jobs

represent a high-skilled workforce, across 150 nationalities who have the

highest contribution to GDP per person across all economic sectors in Dubai.

In 2021, DIFC also recorded its highest ever annual revenue and operating

profit. Revenue increased by 16% to AED 897 million year-on-year versus AED 774

million in 2020, and up by 7% from AED 838 million in 2019. Operating profit

for 2021 reached AED 573 million, an increase of 26% versus AED 457 million in

2020 and up by 13% compared to AED 510 million in 2019.

Source: Dubai International Financial Centre