Latest news with #EssaKazim
Korea Herald
16 hours ago
- Business
- Korea Herald
DIFC's H1 2025 results fuel Dubai's economic vision (D33) and demonstrate global leadership in financial services and innovation
DUBAI, UAE, July 28, 2025 /PRNewswire/ -- Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), announced its best-ever performance for the first half of a year, reinforcing its contribution in driving the future of finance and the Dubai Economic Agenda (D33). DIFC saw a record 1,081 new active registered companies join the Centre during the first six months of 2025 bringing the total number of active registered companies to 7,700. 47,901 professionals now work in DIFC. Total Financial services authorisations grew 28 per cent year-on-year - 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster consists of 289 companies, up from 247 a year ago. The number of firms in the wealth and asset management sector increased to 440, up from 370 in H1 2024, growing 19 per cent year-on-year, with 85 hedge funds, including 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. Additionally, 1,035 entities associated with family businesses now operate from the Centre, up from 600 a year ago. The number of foundations in DIFC have accelerated to 842, up from 548 in H1 2024. 135 insurance-related firms operate from DIFC. Gross Written Premiums advanced to USD 3.5bn for 2024, compared to USD 2.6bn a year earlier. The number of FinTech and Innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28 per cent. Total active non-financial entities increased to 6,335, up from 4,935 a year earlier. H.E. Essa Kazim, Governor of DIFC said: "DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Our consistent performance across all sectors and rising global standing strengthen our commitment to supporting innovation, attracting global capital, and reinforcing Dubai's status as one of the world's most competitive and diversified economies." Dubai is one of eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index, alongside London, New York, and Paris. Over 1.6mn sq. ft. of commercial space is currently under development and construction being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 2026.
Malaysian Reserve
16 hours ago
- Business
- Malaysian Reserve
DIFC's H1 2025 results fuel Dubai's economic vision (D33) and demonstrate global leadership in financial services and innovation
DUBAI, UAE, July 28, 2025 /PRNewswire/ — Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), announced its best-ever performance for the first half of a year, reinforcing its contribution in driving the future of finance and the Dubai Economic Agenda (D33). DIFC saw a record 1,081 new active registered companies join the Centre during the first six months of 2025 bringing the total number of active registered companies to 7,700. 47,901 professionals now work in DIFC. Total Financial services authorisations grew 28 per cent year-on-year – 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster consists of 289 companies, up from 247 a year ago. The number of firms in the wealth and asset management sector increased to 440, up from 370 in H1 2024, growing 19 per cent year-on-year, with 85 hedge funds, including 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. Additionally, 1,035 entities associated with family businesses now operate from the Centre, up from 600 a year ago. The number of foundations in DIFC have accelerated to 842, up from 548 in H1 2024. 135 insurance-related firms operate from DIFC. Gross Written Premiums advanced to USD 3.5bn for 2024, compared to USD 2.6bn a year earlier. The number of FinTech and Innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28 per cent. Total active non-financial entities increased to 6,335, up from 4,935 a year earlier. H.E. Essa Kazim, Governor of DIFC said: 'DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Our consistent performance across all sectors and rising global standing strengthen our commitment to supporting innovation, attracting global capital, and reinforcing Dubai's status as one of the world's most competitive and diversified economies.' Dubai is one of eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index, alongside London, New York, and Paris. Over 1.6mn sq. ft. of commercial space is currently under development and construction being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 2026. Photo – – View original content:
Cision Canada
17 hours ago
- Business
- Cision Canada
DIFC's H1 2025 results fuel Dubai's economic vision (D33) and demonstrate global leadership in financial services and innovation
DUBAI, UAE, July 28, 2025 /CNW/ -- Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), announced its best-ever performance for the first half of a year, reinforcing its contribution in driving the future of finance and the Dubai Economic Agenda (D33). DIFC saw a record 1,081 new active registered companies join the Centre during the first six months of 2025 bringing the total number of active registered companies to 7,700. 47,901 professionals now work in DIFC. Total Financial services authorisations grew 28 per cent year-on-year - 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster consists of 289 companies, up from 247 a year ago. The number of firms in the wealth and asset management sector increased to 440, up from 370 in H1 2024, growing 19 per cent year-on-year, with 85 hedge funds, including 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. Additionally, 1,035 entities associated with family businesses now operate from the Centre, up from 600 a year ago. The number of foundations in DIFC have accelerated to 842, up from 548 in H1 2024. 135 insurance-related firms operate from DIFC. Gross Written Premiums advanced to USD 3.5bn for 2024, compared to USD 2.6bn a year earlier. The number of FinTech and Innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28 per cent. Total active non-financial entities increased to 6,335, up from 4,935 a year earlier. H.E. Essa Kazim, Governor of DIFC said: "DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Our consistent performance across all sectors and rising global standing strengthen our commitment to supporting innovation, attracting global capital, and reinforcing Dubai's status as one of the world's most competitive and diversified economies." Dubai is one of eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index, alongside London, New York, and Paris. Over 1.6mn sq. ft. of commercial space is currently under development and construction being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 2026.
Fintech News ME
04-07-2025
- Business
- Fintech News ME
Dubai Launches Region's First Proptech Innovation Hub at DIFC
The Dubai International Financial Centre (DIFC) Innovation Hub and the Dubai Land Department (DLD) have announced the launch of the Dubai Proptech Hub, located within the DIFC Innovation Hub. This marks the first proptech-focused innovation hub in the Middle East, Africa, and South Asia (MEASA) region. The initiative is intended to bring together stakeholders across the real estate value chain and promote the use of technology in the sector. The hub will support over 200 proptech start-ups and scale-ups, with targets to create more than 3,000 jobs and attract over $300 million in investment by 2030. It will provide tailored licensing, dedicated workspaces, and a range of support programmes aimed at accelerating the commercialisation of new technologies. The Dubai Proptech Hub will also offer early-stage incubation, venture building, joint pilot programmes, and access to regulatory and financial services. These include initiatives designed to align participants with emerging global trends in property technology. Essa Kazim, Governor of DIFC, said: 'Laying the foundation for attracting more talent, this landmark initiative fast-tracks the expansion of the proptech market in Dubai and positions the emirate as a global leader in real estate innovation. Furthermore, this initiative will build renewed momentum for investment, aligning with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033.' Omar Hamad BuShehab, Director General of the DLD, said the hub builds on the department's Real Estate Evolution Space Initiative (REES), stating: 'By encouraging start-ups and providing advanced infrastructure and incubators, we are enhancing Dubai's global competitiveness and offering a smarter, more connected approach to real estate investment and development.' The hub is based on a multi-stakeholder collaboration model that includes regulators, developers, technology providers, investors, and service providers. Founding partners include developers such as Binghatti, Majid Al Futtaim, Sobha Realty, and Union Properties, as well as infrastructure firm Transguard, which is working with the DIFC Innovation Hub on AI-led building and security technologies. The initiative is part of wider efforts to make Dubai's real estate market more accessible, transparent, and technologically integrated.
Hi Dubai
04-07-2025
- Business
- Hi Dubai
Dubai Launches PropTech Hub to Drive Real Estate Innovation
Dubai has launched the region's first PropTech innovation hub at the DIFC Innovation Hub, marking a major step toward transforming the real estate sector through advanced technology and collaboration. Established under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the new Dubai PropTech Hub is a joint initiative between the DIFC Innovation Hub and the Dubai Land Department. It aims to reshape the property market by fostering innovation, attracting global investment, and streamlining real estate operations. Set to support over 200 start-ups and scale-ups, the hub is expected to generate more than 3,000 jobs and attract upwards of $300 million in investment by 2030. The ecosystem will offer licensing support, tailored workspaces, venture-building programmes, and access to a world-class regulatory environment. Essa Kazim, Governor of DIFC, highlighted the hub's role in positioning Dubai as a global leader in PropTech, aligning with the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033. Omar Hamad BuShehab, Director General of DLD, emphasized the initiative's connection to the Real Estate Evolution Space (REES), aimed at integrating AI and smart technologies to elevate Dubai's global competitiveness in real estate. The hub brings together regulators, developers, investors, and tech companies. Founding partners include leading developers like Binghatti, Majid Al Futtaim, and Sobha Realty, who are already piloting AI-powered solutions. By bridging real estate and innovation, the Dubai PropTech Hub sets the stage for a more transparent, tech-enabled, and globally competitive property market. News Source: Dubai Media Office
