The Financial Times has reported that the growth of the Dubai International Financial Centre (DIFC) has exceeded expectations. The publication highlighted that during the COVID-19 pandemic, Dubai’s strategy of a swift reopening successfully attracted a significant influx of people from around the globe. While bankers in key financial hubs like London, Hong Kong, and Singapore faced isolation, those in Dubai were able to commence operations.
Furthermore, the Financial Times noted that the DIFC currently employs 47,900 staff, which is an increase of 21,000 since 2020. With full occupancy in its offices, the centre is planning to construct an additional 1.6 million square feet of commercial space by 2027. This expansion reflects ongoing growth plans, particularly with the increasing interest from Chinese banks looking to establish branches, alongside hedge funds and asset management firms.
The report also pointed out the evident prosperity of the Dubai Multi Commodities Centre.