DIFC is an onshore Financial Centre strategically situated between the east and the west. DIFC at the Sheikh Zayed Road offers a secure and efficient platform for business and financial institutions to reach out the emerging markets in MENA region.
The records of 2014 depicted DIFC to have witnessed a significant positive growth. The statistics below reveals the momentous development of past year in DIFC.
Dubai International Financial Centre (DIFC) witnessed an 18 per cent rise in the amount of active registered companies functioning within it, amounting to 1,225 firms by the end of 2014, in contrast to 1,039 firms in 2013.
The Governor of DIFC and Chairman of DIFC Authority; Essa Kazim stated that these records portray that DIFC in thriving to be the nucleus for regional and international financial services firms seeking to indulge in the developing prospects available in the Middle East, South Asia and Africa. DIFC also provides the consistent development of South-South trade and investment.
He stated that DIFC is the only centre which has an exclusive broad region of more than 2.8 billion consumers that exclusively provides only tested, world class legal and regulatory regime., along with it being globally connected, highly rates financial services environment, enriched with talent and expertise and enticing business environment which makes it highly appealing to the global financial professionals.
DIFC accommodates 21 of the world’s top 25 banks, 11 of the world’s top 20 money managers, seven of the top 10 insurance companies, and nine of the top 10 law firms.
Also, the financial hub issued licenses to 242 new companies in 2014, in contrast to 199 in 2013; this depicts a significant rise of 22 per cent. This signifies DIFC has issued a license to one new firm every working day of the year.
Out of 1,225 currently operating firms, 365 were financial service firms which is a 11 percent compared 327 in 2013. Around 682 non financial firms which was of 21 percent increase in 2014. The retail firms amounted to an increase of 18 percent which is 171 in contrast to 145 firms in 2013.
The leased commercial space rised to 15 percent, 282,000 sq ft was leased out versing the 245,000 sq.ft in 2013. The total leasing space of offices elevated in 2014 and was one of the highest on record.
The workforce in DIFC increased to 14 percent in 2014 which is 17860 workers in contrast to 15600 in 2013. The amount of new jobs created in 2014 was notably higher than 2014.
The demand for DIFC-owned and managed office and retail space was persistently high throughout 2014, with the occupancy rate of 100 per cent.
Novel development is the exclusive two tower Central Park which was recently completed and comprise of 1.57 million square feet residential, office and retail space to DIFC. Click here for more details…
There is strong investor interest for this region which depicts confidence of investors in the real estate development plans for DIFC, this case is not exclusive to DIFC alone but all over Dubai. In October 2014, Dubai was ranked fifth globally among international financial centers by The Banker. Only London, New York, Singapore and Hong Kong ranked higher. In September 2014, the Global Financial Centers Index ranked Dubai as the top centre across the region stretching between Singapore and Switzerland, and named Dubai as one of 10 centers likely to become more significant. Considering all aspects Dubai just seems perfect for investment and currently thriving with investors.
Dubai is the most happening city and Dubai has beaten the likes of New York, Hong Kong, Singapore, London and Paris to be named the best city in the world to work and live in. Are you looking to Invest in Dubai Real estate market? Click here to contact us for more Details…
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