Latest news with #financialhub
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai: Over 4,100 new jobs created by companies in DIFC during H1 2025
Companies in the Dubai International Finance Centre created over 4,100 new jobs during the first half of 2025, strengthening Dubai's position as a global hub for financial professionals. The financial free zone saw a record number of new firms establish operations during January-June 2025, as the number of active registered companies reached 7,700, up from 6,153, representing a 25 per cent year-on-year increase. Around 1,081 new active registered companies joined the DIFC, representing a 32 per cent increase from the same period in 2024. The number of professionals working in DIFC rose to 47,901, marking a significant 9 per cent increase from 43,787 a year earlier. New entrants to DIFC's expanding client base during H1 2025 include ABK Capital, Avaloq, Baron Capital, Bluecrest Capital, Bridge Investment Group, Cambridge Associates, China International Capital Corporation, dLocal, Manulife, National Bank of Kuwait, Pearl Diver Capital, PIMCO, RV Capital, Silver Point Capital, Tourmaline, TransAmerica Life Bermuda, Welwing Capital Management and many others. Due to strong demand from new tenants, over 1.6 million sqft of commercial space is currently under development, and construction is being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 next year. 'Dubai has entered a new and greater phase of growth, and these results highlight the competitiveness, attractiveness, and global confidence it enjoys. We firmly believe the future holds even more opportunities. We will continue to strengthen DIFC's capabilities and its ecosystems that foster innovation, agility, and business growth,' said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC. Exceeding expectations Essa Kazim, governor of DIFC, said the financial free zone remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Arif Amiri, CEO of the DIFC Authority, said that the DIFC has exceeded expectations across every metric. A total of 980 entities are now regulated by the Dubai Financial Services Authority (DFSA), representing a 17 per cent year-over-year increase from 2024. Total Financial services authorisations grew 28 per cent year-on-year, reaching 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster is unrivalled in the region, and growth aligns with the demand for broad and deep financial services capabilities to support the region's economic development aspirations. A total of 289 companies in the banking and capital markets cluster operate in the DIFC, up from 247 a year ago, representing a 17 per cent growth rate. The number of firms in the wealth and asset management cluster increased to 440, up from 370 in H1 2024, representing a 19 per cent growth. The centre is now home to more than 85 hedge funds, which have soared 72 per cent over the last 12 months and include 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. The number of entities associated with family businesses has risen to 1,035, up from 600 a year ago, marking a 73 per cent increase. The number of foundations has accelerated to 842, up from 548. The insurance and reinsurance sector also experienced robust growth, with 135 related firms now operating in the ecosystem, representing an 8% increase from 125 in H1 2024. Top global financial centre Dubai has been categorised as one of only eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index (GFCI), standing alongside cities like London, New York, and Paris. The emirate is the sole centre in the Middle East, Africa, and South Asia to be listed among the top GFCI-ranked financial cities globally in several sectors: FinTech (5th), professional services (6th), investment management (8th), infrastructure (9th) and business environment (10th). The number of fintech and innovation companies reached 1,388, up from 1,081 in H1 2024, representing a 28 per cent surge.
Arab News
3 days ago
- Business
- Arab News
DIFC reports 32% surge in company registrations in H1
RIYADH: Dubai International Financial Center saw 1,081 new companies register between January and June, a 32 percent increase compared to the same period of 2024. The total number of active registered firms at the financial hub rose to 7,700 in the first half of the year, an annual rise of 25 percent, according to the Government of Dubai Media Office. DIFC also reported a 9 percent increase in its workforce, bringing the number of professionals employed in the center to 47,901. The performance comes as Dubai continues to strengthen its position as a global financial hub, with the DIFC consistently ranking among the top 20 financial centers worldwide. It hosts more than 250 wealth and asset management companies, worth over $450 billion, which contribute about 5 percent to the emirate's nominal gross domestic product. 'Dubai has entered a new and greater phase of growth, and these results highlight the competitiveness, attractiveness, and global confidence it enjoys,' said the Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, Maktoum bin Rashid Al-Maktoum. He added: 'We firmly believe the future holds even more opportunities, and we will continue to strengthen DIFC's capabilities and its ecosystems that foster innovation, agility, and business growth.' The Dubai Financial Services Authority, which regulates entities operating from the center, reported a 28 percent year-on-year increase in financial services approvals, reaching 78 in the first half of 2025. Hedge funds registered through DIFC also grew 72 percent to 85 accounts, reinforcing its role as the region's largest hub for the sector. Essa Kazim, governor of DIFC, said the center 'remains the driving force behind Dubai's economic growth' by diversifying the financial services sector. The number of companies in fintech, artificial intelligence, and other innovation-driven industries rose 28 percent to 1,388. DIFC also hosted major events, including Dubai AI Festival in April and Dubai FinTech Summit in May, underlining its ambitions to become a major hub for financial technology. DIFC Academy, the center's education arm, trained 4,947 learners in the first half of 2025 and continues to advance its '1 Million Learners' initiative to equip individuals with sustainability skills by 2030. In real estate, the launch of DIFC Heights sold out in three days, and over 1.6 million sq. feet of new commercial space is under development to meet growing demand, the media office added.
Zawya
3 days ago
- Business
- Zawya
Dubai's financial centre registrations rise 32% in first half
DUBAI - The Dubai International Financial Center (DIFC) said Monday that company registrations grew 32% in the first half of the year as the financial hub welcomed 1,081 new companies, including asset management firms, hedge funds and family offices. The DIFC said in a statement that the total number of active companies at the Gulf's largest financial hub sat at 7,700 as of the end of June, up 25% from a year earlier. As Gulf countries diversify their economies away from oil, betting on sectors like financial services, hubs like DIFC have been attracting an increasing number of firms in recent years, lured by lower taxes, ease and clarity of regulations and the presence of some of the world's biggest sovereign wealth funds. The number of hedge funds in DIFC grew by 72% to reach a total of 85 at the end of the first half. New entrants included RV Capital and Silver Point Capital, which joined some of the industry's largest names that had already set up base in Dubai, such as Millenium and Point72. The hub also reported a 19% increase in wealth management firms and a 73% jump in entities associated with family businesses as Dubai continues to attract private wealth. The United Arab Emirates is on track to welcome nearly 10,000 high-net-worth individuals this year, more than any other country in the world, according to wealth migration consultancy Henley and Partners. (Reporting by Luke Tyson; Editing by Toby Chopra)
Bloomberg
3 days ago
- Business
- Bloomberg
Hedge Funds, Wealth Firms Fuel Dubai Finance Hub's Record Growth
Dubai's financial hub reported a record increase in company registrations in the first half of the year, as the influx of hedge funds and wealth management firms continued despite geopolitical tensions and tariff uncertainty. The Dubai International Financial Centre reported a 32% increase in registrations in the first six months of 2025 compared to the same period last year, with 1,081 new companies setting up in the hub, according to a statement on Monday. The DIFC is now home to 7,700 active registered companies.
The Independent
23-07-2025
- Business
- The Independent
London's status as financial hub ‘fragile', warns Goldman Sachs boss
David Solomon, Goldman Sachs ' chairman and chief executive, has warned that London 's status as a global financial hub is "fragile" due to Brexit. He said that Goldman Sachs is diverting staff from London to rival European cities such as Frankfurt and Munich, noting a significant increase in personnel in Paris. Mr Solomon said that financial talent is now more mobile and firms like Goldman Sachs are establishing larger offices across various European locations. He cautioned Chancellor Rachel Reeves against further tax hikes, particularly on the wealthy, suggesting such policies could deter talent and harm the UK economy. Home Office Minister Seema Malhotra attributed damage to Britain's economic reputation and investor confidence to the premiership of Liz Truss. Brexit has left City of London's reputation at risk, Goldman Sachs chief warns
