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DIFC Records 127pc Growth

In the five years since its inception, DIFC has seen a rapid expansion of its industry cluster.

“The impact of the global financial crisis did not dampen DIFC’s growth. In 2008, the year in which the world was hit by an economic crisis, DIFC recorded the largest absolute annual increase in its business community with a total of 256 companies being registered,” the centre said in a statement.

“By the end of August 2009, there were over 850 registered companies in DIFC, several of which chose the financial district as the base for their regional headquarters,” said DIFC, which was marking its 
fifth anniversary.

“His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and the Ruler of Dubai, has reshaped the world’s financial map by establishing DIFC, which today has emerged as a competitor to the world’s top-ranked financial centres,” said Dr. Omar bin Sulaiman, Governor of 
the DIFC.

The vision behind DIFC and its development over the last five years represent Dubai’s economic dynamism at its best, said David Eldon, Chairman of the DIFC Authority.

“Within a short time, DIFC has positioned itself as a world-leading financial centre. This is evident in the nature of the businesses and talent it has attracted to the region, bringing with it the highest professional standards and innovation the Centre has become known for,” said Sir Anthony Evans, Chief Justice of the DIFC Courts. 
— issacjohn@khaleejtimes.com