The Dubai International Financial Centre (DIFC) saw "exceptional growth" in the first half of 2023 with 661 new entities registering, up 23% year-on-year.
In a statement on 1 August, it said the number of firms in DIFC's FinTech and Innovation sectors grew 35% year-on-year from 599 to 811 with the DIFC now home to 1,443 financial and innovation related companies, a 15% year-on-year growth.
The number of employees based in DIFC grew by 3,057 to reach 39,140, up 20% year-on-year.
The first six months of the year also saw high demand for commercial space. DIFC leased over 233,000 sq. ft. owned and managed commercial space. Occupancy rates stood at 99%.
It further highlighted how the spring 2023 edition of the Global Financial Centres Index categorised the city as one of only ten financial centres in the world that is a global leader with broad and deep capabilities, with Dubai "the only financial centre in the Middle East, Africa and South Asia region to be included in this classification".
His Highness 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 said: "DIFC's exceptional performance in the first half of the year once again demonstrates the strength of the ecosystem it offers for investment, innovation and enterprise to flourish in the financial industry.
"DIFC has not only propelled Dubai's development into a pre-eminent global financial hub but also helped create new spirals of growth in the wider region. As the emirate enters a new phase of growth with the implementation of the Dubai Economic Agenda D33, DIFC will be a vital contributor to the emirate's efforts to open new horizons of sustainable development and unlock the potential of advanced financial technologies."
"Guided by the leadership's vision, Dubai continues to pursue a clear strategy to empower entrepreneurs, innovators and talent in the financial industry to create fresh cycles of economic value in the Middle East, Africa and South Asia region. By further enhancing its world-class infrastructure, legislative frameworks and business-enabling services, Dubai is poised to emerge as an even more influential force in shaping the world's financial landscape."
His Excellency Essa Kazim, governor of DIFC commented: "DIFC plays a pivotal role in driving Dubai's economic growth in line with the Centre's Strategy 2030 and the Dubai Economic Agenda (D33). The unprecedented growth during the first six months of 2023 continues to strengthen Dubai's position as a global leader for finance and innovation. This is testament to our world-class laws, regulation and infrastructure which enables DIFC to continue attracting a host of established companies, growth stage firms, and the region's deepest pool of financial talent. Dubai's official global leader status will help DIFC differentiate our position with international finance and business communities, ensuring we can continue to advance our contribution to the economy."
Arif Amiri, chief executive officer of DIFC Authority said: "DIFC's tremendous success in the first half of 2023 continues to illustrate how we are shaping the future of finance. Our unwavering commitment to growth has yielded outstanding results, with client attraction and expansion leading to a remarkable increase in job creation, bolstering the international workforce in DIFC. This achievement reinforces DIFC and Dubai's prominence as a global destination for top-tier talent as we continue to deliver to our Strategy 2030."
