DIFC Courts logs record AED15bn in claims value in H1’23

DIFC Courts logs record AED15bn in claims value in H1’23

DUBAI, 1st August, 2023 (WAM) -- The Dubai International Financial Centre (DIFC) Courts today released its figures for the first six months of 2023 (H1'23), recording a 692 percent increase in H1'23, compared to H1'22, with a total value of AED 15 billion across 455 cases filed. In addition, the substantial uptake of additional ancillary services, such as wills registration, further elevates Dubai’s common law jurisdiction as the region’s leading forum for international dispute resolution.

In the main Court of First Instance (CFI), 52 cases were filed, with the total value of AED 14.9 billion and an average case value of AED 427.2 million. Cases within the Arbitration Division under the CFI also recorded a significant increase in H1'23, with a total value of AED 12.9 billion and an average claim value of AED 1.6 billion.

Justice Omar Al Mheiri, Director, DIFC Courts, said, “The DIFC Courts is currently operating on a new roadmap for the years 2022-2024, which includes a strategic work plan that brings more national cohesion to the Courts' projects and initiatives in line with the ‘D33’ economic agenda and the Dubai Digital Strategy. This in turn is providing effective support for the federal and local strategic goals and