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Tue 22 Jan 2013 11:24 AM

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DIFC records 16% rise in employment

Dubai onshore financial hub’s combined workforce grew during 2012

DIFC records 16% rise in employment

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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