Dubai’s DIFC records 59% increase in new company registrations in H1 2021

Dubai’s DIFC records 59% increase in new company registrations in H1 2021

Dubai International Financial Centre (DIFC) has registered 492 new companies in the first half of 2021, recording a 59 per cent increase from the same period in 2020. The total number of active registered companies has reached 3,292, an increase of 27 per cent, compared to 2,584 from a year-earlier period. This growth represents a tripling in size since 2014 when the ‘2024 Strategy’ was initiated. DIFC is now home to 1,025 financial and innovation related companies in total, up 25 per cent from last year’s 820. The DIFC Innovation Hub, inaugurated in May, has reached full capacity with tenants including early to growth-stage startups such as YAP, Beehive, Tabby, Xpence, Stake, Rain and Bayzat as well as Thunderbird School of Global Management, part of Arizona State University. DIFC has also announced a fourfold expansion to the hub in the next two years to accommodate up to 1,000 businesses. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the DIFC, said: “The announcement of the H1 2021 results coincides with the launch of 50 new initiatives and projects in the UAE on Sunday based on the ‘Principles of the 50’ document, which is set