Dubai – Mubasher: Dubai International Financial Centre (DIFC) announced that it has achieved sustainable growth of its financial results during the full-year 2017.
The DIFC’s net profit rose 25% year-on-year to $99 million last year, compared to $79 million in 2016, excluding fair value gains of $412 million attributable to the centre’s real estate portfolio, according to a statement.
The total number of registered companies from all over the world at the centre increased by 12% to 1,853 companies, the statement added.
DIFC has achieved a remarkable progress regarding its 2024 growth strategy that aims to boost the number of active registered financial firms to 1,000 and total workforce of registered companies to 50,000 employees.
The number of DIFC-registered financial services companies rose to 473, while the number of the centre’s workforce went up to 22,338 employees.
The centre, which offers tax exemptions and its own judicial system, has succeeded in leasing an additional 384,200 square feet of space last year, maintaining a 99% of occupancy rate.
Meanwhile, the international financial center has continued to enhance its infrastructure efficiency and provide it with new facilities, as more distinctive projects have been included in its main scheme.
The DIFC’s combined revenue reached $221 million in 2017, while the centre’s total assets increased by 15% to $3.55 billion, compared to $3.08 billion in 2016.
DIFC’s operating profit, excluding fair value (FV) gain on investment properties, rose by 8% year-on-year to $140 million last year from $130 million.
