RIYADH: Dubai International Financial Center posted its highest-ever annual revenue and operating profit in 2021 thanks to a 36 percent increase in new company registrations.
Revenues increased by 16 percent to 897 million dirham ($244 million), compared to 774 million dirham in 2020.
As a result, operating profits increased by 26 percent to reach 573 million dirhams.
“DIFC’s best ever annual performance reflects Dubai’s position at the forefront of global recovery in the financial sector and the broader economy,” the Minister of Finance and president of DIFC, Sheikh Maktoum bin Mohammed, said.
DIFC registered 996 companies in 2021, three times as many as in any previous year, achieving its growth targets three years early.
Established in 2004, DIFC is the largest financial center in the Middle East and Africa as well as the 19th largest globally.