DIFC reports impressive growth in first half of 2015

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DIFC reports impressive growth in first half of 2015

DIFC reports impressive growth in first half of 2015

(Dubai) – Dubai International Financial Centre (DIFC), an established global financial services hub connecting businesses and financial institutions with emerging markets across the Middle East, Africa and South Asia (MEASA), saw impressive growth in the first half of 2015 (H1 2015).
The number of active companies registered at the Centre grew 8.3% while the number of people employed within DIFC jumped nearly 5% to more than 18,500.
Essa Kazim, Governor of DIFC and Chairman of DIFC Authority, said the Centre’s encouraging performance illustrated the solid foundations of its 10-year growth strategy, announced in June, which expects DIFC’s operations to treble by 2024.
“With a growing portfolio of active registered firms and an ever expanding and vibrant workforce, we are maximizing the opportunities for investment into and trade with the emerging markets of the MEASA region.”
Operational highlights H1 2015 A total of 1,327 active registered companies now operate within Centre, compared with 1,225 firms at the end of 2014, and 1,113 in the first half of 2014, representing an increase of 8.3% and 19.2%, respectively.
140 new companies licensed during the first six months of the year (36 financial services firms, 91 non-financial services companies and 13 retailers).
The total number of people employed by companies within the Centre rose 4.8% to 18,521, from 17,680 at the end of 2014, and 11.8% compared with 16,560 in the first sixth months of 2014 Ground-breaking of 11th office building in The Gate District announced An additional 178,376 square feet of commercial space leased Out of the 1,327 active firms in the first half of 2015, 382 are financial services firms, up 9.1% from 350 in the first half of 2014; 750 are non-financial services firms, up 25% from 600, and 182 are retailers, up 14.5% from 159 in the first six months of last year.
Among the new companies setting up operations in H1 2015, DIFC welcomed Lloyd’s of London, the global leader in specialist insurance and reinsurance, in March.
(Courtesy WAM)