Dubai's financial hub posts double-digit growth in 2013

Dubai International Financial Centre sees registered firms increase 14% to more than 1,000
Dubai's financial hub posts double-digit growth in 2013
Jeff Singer, CEO at DIFC.
By Reuters
Tue 04 Feb 2014 06:40 PM

The Dubai International Financial Centre, the top banking hub in the Middle East, said it grew at double-digit rates last year as it attracted more tenants from Asia and other emerging markets.

The number of active registered companies operating within the DIFC rose 14 percent to 1,039, while their combined workforce expanded 11 percent to 15,600, it said on Tuesday.

Jeffrey Singer, chief executive of the DIFC Authority, which manages the financial free zone, said the DIFC would focus this year on developing new areas such as Islamic finance, family-owned businesses and commercial links with Africa.

Occupancy rates in core office buildings owned or managed by the DIFC are now close to 100 percent, so more office space is being made available in other buildings that could accommodate as many as 15,000 more workers, the DIFC said.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.