DIFC Celebrates Historic Growth Amid Surge in Indian Companies

The Dubai International Financial Centre (DIFC) marks its 20th anniversary with unprecedented growth, fueled by Indian companies joining its ranks. As the top financial hub in the MEASA region, DIFC witnessed a 25% increase in registered companies, with record revenues and operating profits reflecting its strategic significance.

The Dubai International Financial Centre (DIFC), celebrating its 20th year, has solidified its status as a leading financial hub in the Middle East, Africa, and South Asia (MEASA) region. This momentum has been notably bolstered by a wave of Indian companies joining its framework, including major firms like ASK Asset & Wealth Management Group and AI tech unicorn Nagarro.

In a report released, DIFC highlighted that Middle Eastern and Asian nations collectively contributed 51% to its expansion in 2024. Indian entrants in the financial services sector now include Bharat Re Global Ltd, El Dorado Capital Ltd, and Mahindra Insurance Brokers among others. The DIFC now hosts 6,920 companies, marking a 25% increase from the previous year.

DIFC recorded 1,823 new registrations in 2024, the highest annual number ever. Revenues have surged to AED 1.78 billion (USD 484 million), a 37% increase over 2023, while operating profits rose to AED 1.33 billion (USD 363 million), up 55%. Governor Essa Kazim remarked on DIFC's transformative role in Dubai's economy in line with the Dubai Economic Agenda, while reiterating its commitment to the DIFC Strategy 2030.

(With inputs from agencies.)