The Dubai International Financial Centre (DIFC) Courts has announced continued growth for the first six months of 2024.
The total value of cases across all divisions was AED1.05 billion, with 480 cases filed.
The main Court of First Instance saw 57 cases filed worth a total of AED1.02 billion and an average value of AED39.3 million per case.
Continued growth for DIFC Courts in 2024
“Following a record year for the DIFC Courts in 2023, we have continued to record strong uptake of core and ancillary services of the DIFC Courts for the first 6 months of 2024. We have also committed to further research and development of new innovative, efficient and cost-effective mechanisms in 2024 to assist our court users, whilst also maintaining core judicial excellence through our case management and skilled bench of judges,” Justice Omar Al Mheiri, Director, DIFC Courts said.
Claims involved a wide range of sectors including banking, finance, real estate, construction and manufacturing.
Disputes related to breach of contract, employment and outstanding payments.
The Small Claims Tribunal also saw strong numbers with 265 claims worth AED27.2 million in total and an average of AED109,000 per case. Claims predominantly involved breach of contract, employment and property issues.
All orders and judgments were issued digitally, with over 913 orders and 85 judgments in the period.
Remote hearings increased, with 96 percent held virtually in the Court of First Instance and 100 percent and 75 percent in the Small Claims Tribunal and Court of Appeal respectively.
“The UAE’s recently confirmed top 10 position with the global competitiveness ranking is a testament to the dynamism of our shared economy, with the report specifically noting the UAE’s stellar and effective dispute resolution mechanisms as the underpin of its competing economic segments. As the DIFC reflects on its 20-year anniversary in 2024, the DIFC Courts remains confident that our mandate continues to enable businesses to flourish and people to interact in a stable and predictable environment, supporting federal and local strategic goals,” Al Mheiri added.
Ancillary services also grew, including the wills registration service registering 810 new wills, a 6 percent rise. The digital vault service tejouri saw over a 20 percent increase in registered vaults.
In other developments, the courts received Green Cloud certification for sustainability and a cooperation agreement was signed with The Law Society of Hong Kong to foster closer legal and commercial ties.
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