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DIFC’s size will go threefold by 2024

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Magazine Issue: 
Low-cost is dead, long live ultra low-cost [3]
Magazine date: 
Jul 2015
The Dubai International Financial Center (DIFC) has unveiled its development strategy for the next 10 years. The financial center is intent on tripling its office space and the number of its employees.
Photo credit: Angus FraserDubai, United Arab Emirates

In 2024, the number of registered companies is expected to rise from the current figure of 365 to 1000. The space to be used will be 5.5 million square meters, compared to 2.5 million today.

The number of people working there will increase from 17 860 in 2015 to 50 000 in 2024. The funds managed by these financial institutions will jump from 10.4 billion USD in 2014 to 250 billion USD in 2024.

Nearly 30% of expected growth will be driven by banking and reinsurance activities. The financial sector's contribution to GDP generated by Dubai will be 18% in the next ten years, compared to 14% in 2014.

Tue, 04/08/2015 - 14:10

Source URL: https://www.atlas-mag.net/en/article/difc-s-size-will-go-threefold-by-2024

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