DIFC records 16% rise in employment

Dubai onshore financial hub’s combined workforce grew during 2012

Dubai International Financial Centre (DIFC) has posted a 16 percent growth rate of its number of employees during 2012 against the previous year.

The figure takes into consideration the combined workforce companies registered at the onshore financial hub, which now stands at approximately 14,000 people, representing more than 120 nationalities.

The number of active registered companies within the DIFC also rose during the year to 912, a 7 percent year-on-year increase.

Jeffrey Singer, CEO of DIFC Authority, said: “Dubai’s unique proposition and geographical positioning provide unrivalled opportunities in terms of connectivity and accessibility to the thriving Middle East, Asian and African markets.

“The growth we have witnessed within DIFC reflects the ongoing demand among international businesses for a presence in the region.”

During 2012, DIFC added 38 regulated firms. Another 111 non-regulated firms and 22 retail outlets were also added to the Centre’s client portfolio.

The increase in number of clients and expansion of companies already with the DIFC has contributed to high occupancy rates within the Centre.

By the end of 2012, occupancy of DIFC-owned commercial offices in the Gate District was 94 percent of leasable space, and 98 percent occupancy rates of DIFC-owned retail space.

Among the companies at DIFC are 19 of the world’s top 25 banks, 11 of the world’s top 20 money managers, eight of the top ten insurance companies, and six of the top ten legal firms.

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