DIFC adds record number of companies in first half of year amid Dubai's thriving economy

Active companies hit 7,700 as workforce near 48,000 mark

The Dubai International Financial Centre is now host to 980 financial services companies. Chris Whiteoak / The National

The Dubai International Financial Centre added a record number of companies in the first half of 2025, anchored by the strength of the emirate's finance sector.

The DIFC welcomed 1,081 companies during the period, up by nearly a third on an annual basis and the most ever for the six-month period, the financial centre said on Monday.

That brought the DIFC's total active registered companies to 7,700, which is a 25 per cent year on year rise. The centre's workforce climbed by 9 per cent to 47,901.

Among the new companies are ABK Capital, Avaloq, Baron Capital, Bluecrest Capital, Bridge Investment Group, Cambridge Associates, China International Capital Corporation, dLocal, Manulife, National Bank of Kuwait, Pearl Diver Capital, Pimco, RV Capital, Silver Point Capital, Tourmaline, TransAmerica Life Bermuda and Welwing Capital Management.

Financial services entities, regulated by the Dubai Financial Services Authority (DFSA), grew by 17 per cent annually to 980, while financial services authorisations rose by 28 per cent to 78. Companies in the DIFC’s banking and capital markets cluster grew by 17 per cent to 289.

New companies in financial technology and innovation surged by 28 per cent to 1,388, accounting for a 28 per cent growth in total active non-financial entities to 6,335.

The DIFC's first-half performance is a “direct reflection” of a “vision focused on positioning Dubai at the forefront of the world’s most advanced financial centres”, Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and president of the DIFC, said, according to a Dubai Media Office statement.

“Dubai has entered a new and greater phase of growth and these results highlight the competitiveness, attractiveness and global confidence it enjoys,” Sheikh Maktoum said.

The DIFC's wealth and management cluster, the largest in the region, welcomed 70 new entities, up by 19 per cent year on year, it said. Dubai is home to the highest concentration of private wealth in any Middle Eastern city, data from Henley & Partners shows.

That status has helped the DIFC attract hedge funds, which have increased by 72 per cent over the past 12 months to 85, the centre said. More than 10,000 funds are being managed or marketed from the DIFC, it added.

“We firmly believe the future holds even more opportunities, and we will continue to strengthen the DIFC’s capabilities and its ecosystems that foster innovation, agility and business growth,” Sheikh Maktoum said.

The DIFC continues to expand its offerings in line with the Dubai Economic Agenda, the initiative known as D33 that aims to double the size of its economy to Dh32 trillion over the next decade and establish the emirate among the top three global cities.

The UAE’s economy grew by 4 per cent to Dh1.776 trillion ($484.7 billion) last year, driven by a strong expansion in its non-oil sector as the country continues to diversify, with financial and insurance activities expanding by 7 per cent, the Ministry of Finance said last month.

Latest data shows that Dubai's economy grew by 3.1 per cent in the first nine months of last year, compared to the same period in 2023, reaching Dh339.4 billion. Growth was largely driven by strides in sectors including finance, government data showed in February.

The DIFC has been riding this momentum. Last year, it added a record number of companies on an annual basis, with job numbers increasing by 10 per cent year on year to more than 46,000.

In the first half of last year, the DIFC welcomed 820 new companies, with the total assets under management in its financial district alone rising to more than $700 billion amid continuing expansion plans.

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“Our consistent performance across all key sectors and rising global standing are evidence of our commitment to supporting innovation, attracting global capital and reinforcing Dubai’s status as one of the world’s most competitive and diversified economies,” DIFC governor Essa Kazim said.

The DIFC has also been increasing its real estate portfolio in line with Dubai’s plans for urban development. The recently launched DIFC Heights, which was sold out in three days, highlighted “strong demand” for premium living in the financial district, the centre said.

More than 1.6 million square feet of commercial space is under development and construction is being accelerated to meet demand, with new spaces ready for occupancy from the first quarter of 2026, the DIFC said.

In December, Abu Dhabi's largest real estate developer, Aldar Properties, bought a 40-storey commercial tower for Dh2.3 billion at the DIFC, as demand for office space in Dubai continues to grow.

In addition, during the first half of 2025, the DIFC proposed to enact new Variable Capital Company Regulations, which aim to “significantly” enhance investment structuring and asset management options for proprietary investment at the DIFC.

Legal updates were also proposed through the DIFC Laws Amendment Law, including refinements to the Law of Security, Insolvency Law and Employment Law, ensuring alignment with international standards, it added.