Latest news with #GAR100DataReport
Hi Dubai
13-03-2025
- Business
- Hi Dubai
Dubai's Arbitration Hub Ranked Among Global Leaders in GAR 100 Report
The Dubai International Arbitration Centre (DIAC) has secured notable positions in the prestigious GAR 100 Data Report, solidifying Dubai's role as a global arbitration hub. Published by the influential Global Arbitration Review (GAR), the report ranks Dubai as the fifth most popular arbitration seat worldwide by case volume, surpassing over 400 arbitration seats, including major cities like New York and Geneva. Additionally, Dubai ranks ninth globally in terms of the total value of arbitration cases, outperforming cities such as Seoul and Frankfurt. DIAC itself earned recognition as the tenth most active arbitration centre, based on the number of cases handled, and ninth for case value. This places DIAC ahead of more than 315 arbitration centres globally, reflecting the growing trust in Dubai's arbitration ecosystem. Notably, Dubai is the only arbitration seat and DIAC the only centre from the Middle East, Africa, and South Asia (MEASA) region included in the top 10 rankings. Jehad Kazim, Executive Director of DIAC, emphasized that these achievements align with Dubai's ambitions outlined in the Dubai Economic Agenda D33. He attributed the centre's success to the strategic oversight of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohammed bin Rashid Al Maktoum, positioning DIAC among the world's top arbitration centres in the coming years. With over 5,000 cases handled, totaling more than AED 100 billion in value, DIAC continues to offer a robust legal framework for arbitration, attracting complex, high-value disputes. Recent reforms, including updated arbitration rules and an expanded board, ensure DIAC remains at the forefront of dispute resolution globally. News Source: Emirates News Agency
Emirates 24/7
12-03-2025
- Business
- Emirates 24/7
Dubai secures top rankings in GAR 100 Data Report on international arbitration
- Dubai is the only arbitration seat, and DIAC the only center from the Middle East, Africa, and South Asia in the global top 10 rankings - DIAC handles more than 5,000 cases with a total value exceeding AED100 billion in the past three decades Jehad Kazim: The high rankings achieved by both Dubai and DIAC reflect the international business community's confidence in the city as a leading arbitration hub The Dubai International Arbitration Centre (DIAC) announced that it has secured high rankings in the GAR 100 Data Report, published by Global Arbitration Review (GAR), the most widely read and influential publication in the field. The report ranks Dubai as the fifth most popular arbitration seat worldwide by case volume, surpassing more than 405 arbitration seats and cities, including New York and Geneva. It also places Dubai ninth in terms of the total value of arbitration cases conducted, outperforming more than 405 arbitration seats and cities, including Seoul and Frankfurt. DIAC itself was ranked as the tenth most active arbitration centre globally based on the number of cases handled and ninth in terms of case value, outperforming over 315 arbitration centres worldwide. According to the report, Dubai is the only arbitration seat, and DIAC the only arbitration centre from the Middle East, Africa, and South Asia (MEASA) region to be included in the global top 10 rankings. Jehad Kazim, Executive Director of DIAC, said that the high rankings achieved by both Dubai and DIAC reflect the international business community's confidence in the city as a leading arbitration hub, directly supporting the objectives of the Dubai Economic Agenda D33. Kazim added that DIAC operates under a carefully structured work plan overseen by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE. The plan aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position DIAC among the world's top five arbitration centres in the coming years. Over the past three decades, DIAC has handled more than 5,000 cases with a total value exceeding AED100 billion, said Kazim. The centre provides a robust legal framework and reliable enforcement mechanisms for arbitration awards, attracting a diverse range of complex, high-value disputes. Since 2022, DIAC has further enhanced its services by introducing updated arbitration rules, reforming its arbitration court, and expanding its board of directors. Committed to efficient and impartial dispute resolution, DIAC ensures fair outcomes for all parties. The GAR 100 Data Report is a comprehensive analysis derived from GAR's annual GAR 100 guide, which identifies the world's leading law firms with arbitration practices. Covering more than 11,200 arbitration cases from 2015 to 2023, the report provides key insights into case volumes, institutional performance, and user preferences in arbitration. Follow Emirates 24|7 on Google News.
