In its best year since 2008, the DIFCI said revenues for the fiscal year 2014 were $222m, up 18.7% from $187 million in the previous year. The DIFCI said it also reduced its overall debt by $156m over the course of 2014.
The number of companies operating the Dubai International Financial Centre (DIFC) increased by 18% over the year to stand at 1,225 firms at the end of 2014, compared with 1,039 in 2013. The financial free zone recorded saw its workforce growing by 14% to almost 18,000.
The 1,225 active registered companies operating from the Centre, include 21 of the world’s top 25 banks, 11 of the world’s top 20 money managers, 7 of the top 10 insurance companies, and 9 of the top 10 law firms.
“We are confident 2015 will prove to be yet another landmark year for DIFCI and DIFC,” Essa Kazim, chairman of DIFC Investments and governor of the DIFC, said.
“DIFC is the only centre in this broad region of more than 2.8 billion consumers that serves as a financial gateway to these markets, armed with world-class legal and regulatory regime and infrastructure.”
Rajesh Pareek, chief financial officer of the DIFC said, “The financial results reflected stable earnings, enhanced capital structure and a diversified business model of steady rental cash flows.
“Assets of the financial centre are growing with investments that are focused on the Real Estate portfolio within DIFC to increase capacity and future recurring revenues,” he said.
