DIFC’s H1 2023 performance strengthens Dubai’s position as global finance and innovation hub

DIFC’s H1 2023 performance strengthens Dubai’s position as global finance and innovation hub

DUBAI, 1st August, 2023 (WAM) -- The Dubai International Financial Centre (DIFC) witnessed exceptional growth in the first half of 2023, with 661 new entities registering during the period in the centre, an impressive double-digit growth of 23% year-on-year.

DIFC's performance reinforces its growing role in shaping the future of finance and raises Dubai's status as a leading growth catalyst for financial institutions, FinTech firms and innovation companies in the region.

The total number of companies operating in DIFC rose from 4,031 to 4,949 at the end of June 2023, a year-on-year increase of 23%. The number of firms in DIFC's FinTech and Innovation sectors grew 35% year-on-year from 599 to 811, consolidating its reputation as a global hub for these sectors.

DIFC is now home to 1,443 financial and innovation-related companies, a 15% year-on-year growth.

The growth in registered companies has led to a remarkable increase in job creation. The total number of employees based in DIFC grew by 3,057 to reach 39,140, up 20% year-on-year. The growth supports the goals of DIFC's 2030 Strategy, further strengthening Dubai's position as a pre-eminent global hub for talent.

The first six months of the year saw high demand for commercial space. DIFC leased over 233,000 sq.