Latest news with #SheikhMaktoum
Gulf Business
29-07-2025
- Business
- Gulf Business
DIFC welcomes 1,081 new active registered companies in H1
Image: DIFC The Dubai International Financial Centre (DIFC) reported its best-ever half-year results in H1 2025, with record growth across financial services, innovation, and fintech sectors. A total of 1,081 new active registered companies joined DIFC between January and June 2025, a 32 per cent increase compared to the same period in 2024. The total number of active companies reached 7,700, up 25 per cent year-on-year. The number of professionals working in the centre rose to 47,901, a 9 per cent increase from a year earlier. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of Financial services ecosystem expands DIFC recorded a 28 per cent increase in financial services authorisations in H1 2025. The number of entities regulated by the Dubai Financial Services Authority (DFSA) rose 17 per cent year-on-year to 980. The banking and capital markets cluster grew 17 per cent to 289 firms, while the number of wealth and asset management companies increased by 19 per cent to 440. The number of hedge funds operating from DIFC reached 85, representing 72 per cent growth since June 2024. The centre now hosts 69 funds managing over $1bn each, and more than 10,000 funds are being managed or marketed from the centre. Entities associated with family businesses rose by 73 per cent to 1,035, and the number of registered foundations increased 54 per cent year-on-year to 842. The insurance and reinsurance sector saw 8 per cent growth, with 135 firms operating in H1 2025. G ross written premiums for 2024 reached $3.5bn, up from $2.6bn a year earlier. Innovation and fintech see continued expansion The number of fintech, AI, and innovation-focused companies reached 1,388 in H1 2025, up 28 per cent from 1,081 a year earlier. Active non-financial entities grew by 28 per cent to 6,335. DIFC hosted over 20,000 participants from more than 120 countries during its flagship Dubai AI Festival and FinTech Summit. During the events, the Dubai AI Academy was launched and Dubai Future Finance Week was announced for May 2026. The Ignyte growth platform, launched in late 2024, has already delivered Dhs182m in economic benefits, supporting start-ups, investors, and founders across the region. Legislation, education and real estate milestones The DIFC Academy recorded its highest ever enrolment in a six-month period, with 4,947 learners completing programmes in H1 2025. DIFC also launched the '1 Million Learners' initiative, aimed at equipping one million individuals with sustainability knowledge by 2030. Over 6,075 hours of sustainability-related training were delivered in H1 2025, bringing the cumulative total to 22,241 hours. In the legal domain, DIFC proposed new Variable Capital Company Regulations and updates to its existing framework including refinements to the Law of Security, Insolvency Law, and Employment Law. DIFC was also selected to host the 2026 Global Privacy Assembly, the premier forum for international data protection authorities. On the real estate front, DIFC said inventory for its newly launched DIFC Heights sold out within three days. Over 1.6 million sq ft of commercial space is currently under development and expected to be ready for occupancy from Q1 2026. Read: New entrants at DIFC New clients joining DIFC in H1 2025 included firms such as 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. 'DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification,' said Essa Kazim, governor of DIFC. Arif Amiri, CEO of DIFC Authority, added: 'In the first half of 2025, DIFC has exceeded expectations across every metric. Our strong performance demonstrates the power of our ecosystem and the depth of expertise we bring to the industry.'
The National
28-07-2025
- Business
- The National
DIFC adds record number of companies in first half of year amid Dubai's thriving economy
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. '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.
Emirates 24/7
28-07-2025
- Business
- Emirates 24/7
DIFC records best ever performance for the first half of a year
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), today announced its best-ever performance for the first half of a year, reinforcing its pivotal role in driving the future of finance and contributing to the Dubai Economic Agenda D33. In the first six months of 2025, DIFC saw a record number of new firms establishing operations in the Centre, bringing the total number of active registered companies to 7,700, up from 6,153 in H1 2024 - a 25% year-on-year increase. 1,081 new active registered companies joined DIFC between January and June 2025, a 32% increase on the same period in 2024. The number of professionals working in DIFC rose to 47,901, marking a significant 9% increase from 43,787 a year earlier. 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, and President of DIFC said: 'The unprecedented results that DIFC continues to achieve across all fronts are a direct reflection of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai - a vision focused on positioning Dubai at the forefront of the world's most advanced financial centres. Dubai has entered a new and greater phase of growth, and these results highlight the competitiveness, attractiveness, and global confidence it enjoys. We firmly believe the future holds even more opportunities, and we will continue to strengthen DIFC's capabilities and its ecosystems that foster innovation, agility, and business growth.' A global leader in financial services Driven by DIFC's strategic initiatives and unmatched scale in the region across all sectors, Dubai has been categorised as one of only eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index (GFCI), standing alongside cities like London, New York, and Paris. Dubai is currently the sole centre in the Middle East, Africa and South Asia to be listed among the top GFCI ranked financial cities globally in several sectors: FinTech (5th), professional services (6th), investment management (8th), infrastructure (9th) and business environment (10th). DIFC continues to advance its position as the region's largest regulated financial services ecosystem. A total of 980 entities are now regulated by the DFSA, the independent regulator for business undertaken from or within DIFC, up 17% year-on-year from 2024. Total Financial services authorisations grew 28% year-on-year, reaching 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster is unrivalled in the region, and growth aligns with the demand for broad and deep financial services capabilities to support the region's economic development aspirations. A total of 289 companies operate in this sector, up from 247 a year ago, a substantial 17% growth rate. Dubai is home to the highest concentration of private wealth in any Middle Eastern city, according to Henley & Partners. This has supported growth in DIFC's wealth and asset management cluster, which is the biggest in the region. The number of firms in the sector increased to 440, up from 370 in H1 2024, growing 19% year-on-year. The Centre is now home to more than 85 hedge funds, soaring 72% over the last 12 months and includes 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. DIFC's approach to supporting family businesses, including providing access to alternative investments through its wealth and asset management clients, and structures to support growth, continues to ensure the Centre is their preferred location. The number of entities associated with family businesses operating in DIFC has risen to 1,035, up from 600 a year ago, marking a 73% increase. The number of foundations in DIFC have accelerated to 842, up from 548 in H1 2024, a 54% year-on-year increase. The insurance and reinsurance sector also experienced robust growth, with 135 related firms now operating in the ecosystem, increasing 8% from 125 in H1 2024. During the first half of 2025, it was announced that Gross written premiums reached USD 3.5bn for 2024, compared to USD 2.6bn a year earlier – a significant 35% increase. New entrants to DIFC's expanding client base during H1 2025 include 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, Welwing Capital Management and many others. 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 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.' Arif Amiri, Chief Executive Officer of DIFC Authority commented: 'In the first half of 2025, DIFC has exceeded expectations across every metric. Our strong performance demonstrates the power of our ecosystem, the scale of our platform, and the depth of expertise we bring to the industry. We remain committed to transforming the future of finance from Dubai and advancing our position as the region's number one global financial centre.' A global leader in AI, FinTech and innovation DIFC's innovation ecosystem continued to attract a growing number of technology-led firms. The number of FinTech and Innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28%, securing Dubai's position a one of the world's top five hubs for FinTech in the latest Global Financial Centres Index. During H1 2025, this contributed to an overall 28% growth in total active non-financial entities, increasing to 6,335, up from 4,935 a year earlier. The Centre's flagship events, the Dubai AI Festival and Dubai FinTech Summit, collectively attracted over 20,000 participants from 120+ countries. During these events and in support of DIFC's innovation agenda, the Dubai AI Academy was launched, and Dubai Future Finance Week was announced. Being held in May 2026, the week will bring together six major events, including the FinTech Summit, Future Sustainability Forum, and the Dubai Future District Fund AGM. Having launched Ignyte at the end of 2024, a growth platform targeting 100,000 founders, start-ups, and investors subscribers have already redeemed benefits exceeding AED 182mn. This reflects Ignyte's real economic benefit and demonstrates how the platform is an enabler for growth. A global hub for talent Supporting the objectives of Dubai's Education Strategy 2033 and the Dubai Economic Agenda D33, the DIFC Academy has become a preferred choice for world-class universities. Amongst DIFC's partners, renowned universities including American University of Cairo, ESCP Business School, ESSEC Business School, Georgetown University, London Business School, Pantheon Assas University and SKEMA Business School offer 12 masters degree programmes. Through 32 active partners, 46,103 learners have completed programmes at the DIFC Academy since inception, including 4,947 during H1 2025 – the highest ever number in a six month period. To drive long-term impact, DIFC has launched the '1 Million Learners' initiative with the support of 30 founding partners, under the Sustainable Finance Catalyst, which aims to equip one million individuals with sustainability knowledge by 2030. The initiative builds on the demand for sustainability related training at the DIFC Academy which has delivered 6,075 hours of related learning in H1 2025, taking the total programming to 22,241 hours from 42 courses. A global leader in legislation, regulation and governance DIFC's legal and regulatory frameworks continued to evolve to keep pace with global developments. DIFC's legal framework features bespoke, best-in-class legislation, developed from leading international sources and standards to most effectively meet the needs of an international financial centre. This is complemented by a robust system of DIFC common law, with its substantial body of developed jurisprudence. This combination delivers an optimal balance of legal certainty, commercial flexibility, and judicial sophistication - positioning DIFC as the jurisdiction of choice for businesses across the region and globally. During the first half of 2025, the Centre proposed to enact new Variable Capital Company Regulations. The proposed regulations seek to significantly enhance investment structuring and asset management options for proprietary investment in DIFC. Additionally, legal updates were proposed through the DIFC Laws Amendment Law, including refinements to the Law of Security, Insolvency Law and Employment Law, ensuring alignment with international standards. In a milestone achievement underscoring Dubai's growing influence in global governance, DIFC was selected to host the upcoming Global Privacy Assembly 2026, the premier global forum for data protection and privacy authorities. A global leader in real estate and urban development DIFC's real estate portfolio continues to support Dubai's urban development ambitions. Inventory that was provided to the market for the recently launched DIFC Heights, sold out in three days, underscoring strong demand for premium living in the financial district. 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 next year. DIFC also launched a new data platform enabling third-party access to real estate information, aligning with the Dubai Real Estate Strategy 2033.
Khaleej Times
10-07-2025
- Business
- Khaleej Times
UAE: General Budget Committee discusses draft budget for fiscal year 2026
The General Budget Committee held its 13th meeting to discuss the draft general budget of the UAE for the fiscal year 2026. Additionally, the committee reviewed the financial position for fiscal year 2025, taking into account cash inflows and outflows recorded during the first half of the year, along with the projected outlook for fiscal year 2026. Held at Qasr Al Watan in Abu Dhabi, the meeting was attended by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs. During its meeting, the committee discussed a number of topics, including the draft general budge t for the fiscal year 2026 as part of the budget plan for the years 2022-2026. This was done in accordance with the coordination carried out by the Ministry of Finance with all federal entities for the purpose of preparing the federal budget, taking into account developments in the local and global economic landscape. All necessary procedures were undertaken in line with the provisions governing the preparation and presentation of the budget, as outlined in Federal Decree-Law No. (26) of 2019 on Public Finance, its amendments, and the relevant decisions and recommendations. The committee directed that the necessary procedures be completed for preparing the draft federal budget for the year 2026, to be subsequently submitted to the Cabinet. It also reviewed the budget proposals submitted by various federal entities for the 2026 fiscal year. Additionally, the committee reviewed the financial position for fiscal year 2025, taking into account cash inflows and outflows recorded during the first half of the year, along with the projected outlook for fiscal year 2026. The projections were driven by updated revenue forecasts and expenditure estimates submitted by federal entities, reflecting sustained recovery across key economic sectors and positive national growth indicators. The committee recommended taking the necessary measures accordingly. The committee commended the Ministry of Finance's efforts in updating the draft budget for the fiscal year 2026 and for its effective coordination with federal entities throughout the preparation process. Also present were Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; and Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank of the UAE (CBUAE), in addition to representatives of the Presidential Court and the Ministry of Finance.
Zawya
10-07-2025
- Business
- Zawya
UAE: General Budget Committee discusses draft budget for fiscal year 2026
The General Budget Committee has held its 13th meeting to discuss the draft general budget of the UAE for the fiscal year 2026. Held at Qasr Al Watan in Abu Dhabi, the meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs. Also present were Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; and Khaled Mohamed Balama Al Tameemi, Governor of the Central Bank of the UAE (CBUAE), in addition to representatives of the Presidential Court and the Ministry of Finance. During its meeting, the committee discussed a number of topics, including the draft general budget for the fiscal year 2026 as part of the budget plan for the years 2022-2026. This was done in accordance with the coordination carried out by the Ministry of Finance with all federal entities for the purpose of preparing the federal budget, taking into account developments in the local and global economic landscape. All necessary procedures were undertaken in line with the provisions governing the preparation and presentation of the budget, as outlined in Federal Decree-Law No. (26) of 2019 on Public Finance, its amendments, and the relevant decisions and recommendations. The committee directed that the necessary procedures be completed for preparing the draft federal budget for the year 2026, to be subsequently submitted to the Cabinet. It also reviewed the budget proposals submitted by various federal entities for the 2026 fiscal year. Additionally, the committee reviewed the financial position for fiscal year 2025, taking into account cash inflows and outflows recorded during the first half of the year, along with the projected outlook for fiscal year 2026. The projections were driven by updated revenue forecasts and expenditure estimates submitted by federal entities, reflecting sustained recovery across key economic sectors and positive national growth indicators. The committee recommended taking the necessary measures accordingly. The committee commended the Ministry of Finance's efforts in updating the draft budget for the fiscal year 2026 and for its effective coordination with federal entities throughout the preparation process.
