The economy of Islamic countries, especially the banking sector and stock exchanges, attracts special attention throughout the world.
As a result of its rapid development, the United Arab Emirates has become one of the main financial centers of the Middle East.
For development, a way of attracting investors from different countries was chosen.
There appeared an opportunity to purchase real estate on the territory of Dubai, in specially designated territories. Large investments were made in entertainment business, construction.
The International Financial Center of Dubai (DIFC) is the heart of financial activity of the country. It is a free zone formed in 2004 in the central part of Dubai.
Today, DIFC is a well-established stock market, focused on several specific financial sectors. These are banking services; stock markets; asset management and fund registration; insurance and risks; and additional services.
Dubai International Financial Center (DIFC) declared of the completion of a multifunctional office and retail project worth 180 million dirhams ($ US 49 million). The Exchange will become the new home for the emirate exchange – Nasdaq Dubai.
The Nasdaq Dubai, formerly known as the Dubai International Financial Exchange (DIFX), is in its turn intended for listing of primary issuers, secondary and double listing, for trading stocks, derivatives, structured products, bonds, depositary receipts, index products, etc.
This project offers a total leased area of 147 thousand square feet, of which 33 thousand square feet are reserved for retail trade. More than 80 percent of the new project has already been leased, according to a statement by DIFC.
DIFC is among the top 10 financial centers in the world. The free zone set the task of growing by attracting 1000 active financial companies by 2024. Now the center builds and manages its own portfolio of real estate, and also invests in new projects in real estate which allows to attract more companies, responding to their requirements and to take into account future trends.
The demand for retail space in the free financial zone is also growing with an increase of 7%. The annual profit of DIFC increased by 25% in 2017.
By 2024, DIFC plans to triple its size, transforming itself into a global financial center that will provide exceptional business opportunities, a unique lifestyle and an excellent community of professionals from around the world.
DIFC has attracted many international companies to its community, with most financial firms being attracted from outside the Middle East.
DIFC can be called one of the world’s leading financial centers that connects regional markets with world economies.