Dubai Financial Market announces 298% rise in net profit before tax for the first half of 2025 to AED777.1mln
Total traded value grew by 77% year-on-year to AED 85 billion, with institutional investors accounting for 71% of activity.
In the first six months of 2025, DFM attracted 53,655 new investors, 84% of whom were foreign, expanding the total investor base to over 1.2 million.
Dubai, UAE: Dubai Financial Market (DFM) today announced its consolidated financial results for the six-month period ending 30 June 2025, reporting a net profit before tax of AED 777.1 million, up 298% compared to the same period in 2024, underscoring strong investor confidence and the continued expansion of Dubai's capital markets.
DFM saw robust market performance during this period, with the DFM General Index (DFMGI) rising by 10.6%, reflecting both local market strength and a broader global shift in capital towards resilient, growth-oriented markets. The total market capitalisation also increased by a solid 9.7%, compared to the same period last year, to reach AED 995 billion.
Commenting on DFM's performance, H.E. Helal Saeed Al Marri, Chairman of DFM, said: 'DFM delivered a positive performance in the first half of 2025, underpinned by growing market depth and investor engagement. The rise in the DFM General Index, alongside sustained participation from institutional and foreign investors, is set against the backdrop of a dynamic Dubai economy, where record real estate activity, growing hedge fund presence, and increased capital flows have reinforced the emirate's status as a global financial hub. The 3rd edition of our Annual Capital Market Summit, held in May, further highlighted DFM's global standing, attracting more than 1,500 leading international and regional market participants and setting the stage for continued innovation and growth. Looking ahead, we will continue enhancing our market infrastructure and diversifying our offerings to support sustained market growth.'
Financial Metrics
DFM's total consolidated revenue rose 191% to AED 888.9 million in the first half of 2025, underpinned by a robust rise in operating income and solid investment returns and one-off income from the sale of an investment property. Expenses, excluding tax, were AED 111.8 million compared to AED 110.3 million in H1 2024, reflecting ongoing investments in market infrastructure and technology.
In the second quarter of 2025, the total revenue reached AED 702.5 million compared to AED 157.6 million reported in Q2 2024. Further, the exchange recorded a net profit before tax of AED 642.2 million, compared to AED 99.8 million in the corresponding period last year reflecting the steady market growth.
Robust Trading Activity
DFM recorded increased trading activity during H1 2025, with average daily traded value (ADTV) rising 75% year-on-year to AED 692 million, leading to a total traded value of AED 85 billion, up 77% compared to AED 48 billion in H1 2024. Average number of daily trades also increased by 37% to approximately 13,900, reflecting deeper market engagement.
Growing Investor Participation
DFM onboarded 53,655 new investors during the first half of 2025, with foreign investors making up 84%, raising the total investor base to over 1.2 million. Institutional trading increased notably, reaching 71% of total activity, with foreign investors contributing 53% of trading and representing 20% ownership of market capitalization.
In June, DFM participated in HSBC's GCC Exchanges Conference in London, which convened over 300 global institutional investors, more than 100 corporates, and representatives from all GCC exchanges. The conference emphasized growing global interest in the Gulf markets, driven by resilient regional performance, including a 33% rise in GCC IPO activity in the first three months of the year.
IPO Milestone: Dubai Residential REIT
In the first half of 2025, DFM welcomed the landmark IPO of Dubai Residential REIT (DUBAIRESI), the GCC's largest and first-ever listed pure-play residential leasing-focused REIT.
The IPO raised AED 2.145 billion (USD 584 million) and was significantly oversubscribed, with gross demand exceeding AED 56 billion (USD 15 billion), approximately 26 times the offered units. Dubai Residential REIT debuted with a market capitalization of AED 14.3 billion (USD 3.9 billion), marking the largest listed REIT in the GCC and underscoring strong investor confidence in Dubai's real estate sector.
Enhanced Investor Access and Market Development
In May, DFM successfully hosted the third MENA Capital Market Summit (CMS 2025), welcoming over 1,500 attendees and more than 100 speakers from leading global institutions. The annual event has come to serve as a regional anchor for dialogue, innovation, and investment, further cementing DFM's role as a strategic enabler of capital market development. During this year's edition, DFM announced two AI-powered enhancements to its iVestor app: Smart Disclosures and Financial Summary.
Smart Disclosures provides concise summaries of detailed company announcements, while Financial Summary presents key financial metrics clearly and succinctly. These new features aim to simplify access to information and support investors in making informed decisions, aligning with the rising demand for intuitive, digital-first investment tools.
DFM also continued enhancing its Arena platform, designed to facilitate broader capital access and diversify investment opportunities across various asset classes, reinforcing market depth and investor engagement.
Diverse Sector Representation
Market capitalization reached AED 995 billion, reflecting Dubai's diversified economic base with sector composition as follows: Financials 40%, Real Estate 20%, Utilities 17%, Industrials 12%, Communication Services 5%, and Consumer Staples and other sectors comprising the remainder. This diverse mix strategically positions DFM to attract listings from emerging and underrepresented sectors.
Hamed Ali, CEO of DFM and Nasdaq Dubai, said: 'DFM's performance in the first half of 2025 reflects a market evolving with purpose, demonstrating steady progress in executing our strategic initiatives and maintaining investor confidence. The successful listing of Dubai Residential REIT signals continued strength in our IPO pipeline and a growing investor appetite for diversified asset classes. As we expand access to new products and deepen market infrastructure, DFM remains a magnet for capital and a launchpad for the region's most ambitious issuers.'
About Dubai Financial Market:
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari'a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company, and its shares were listed on 7 March 2007 with the trading symbol (DFM). Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited.
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