Dubai's DIFC sees workforce rise above 21,000 in H1

More than 2,500 new employees were added to financial freezone compared to the same period last year
Dubai's DIFC sees workforce rise above 21,000 in H1
DIFCs Gate Avenue will open in 2017. [Image: Twitter/Dubai Media Office]
By Staff writer
Wed 31 Aug 2016 08:01 PM

Employees working for firms operating in Dubai International Financial Centre (DIFC) surpassed 21,000 employees during the first half of 2016.

More than 2,500 new employees were added compared to the same period last year as DIFC looks to target 50,000 employees by 2024, a statement said.

DIFC reached another milestone of crossing over 1,500 firms, with 1,539 companies now based in the financial centre. A total of 143 new companies joined DIFC in the first half of the year, representing a 16 percent growth.

DIFC Governor Essa Kazim said: "Dubai and DIFC serve as the gateway to the world's fastest growing markets across the MEASA region. This is reflected in our latest results and initiatives, which represent a major milestone in delivering on the centre's forward-looking 2024 strategy.

"We continue to invest in building our world-class ecosystem, and are committed to creating an environment that enables our clients to take advantage of new opportunities that arise in the region."

The 1,539 active firms in DIFC are now made up of a record 425 financial services firms, an increase of 11 percent on this time last year, 914 non-financial firms, up 22 percent, and 192 retailers, a rise of 2 percent.

A third of companies are from the Middle East region, 18 percent from the EU, 15 percent from the UK, 12 percent from the US, 12 percent from Asia and a further 10 percent from elsewhere in the world.

Major initiatives during the first half of 2016 have included the launch of Gate Avenue at DIFC, a development which will link all the DIFC's areas through 660,000 square feet of premium retail space hosting over 150 exclusive dining, shopping and leisure attractions and which is set for completion at the end of 2017.

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