Page 223 - AAE PR REPORT - June 2024

5/29/24, 3:53 PM DIFC Publishes Regional Outlook For Banking And Capital Markets - UAE Today
Spurred on by the momentum of other, highly anticipated listings, such as Lulu’s forthcoming IPO, there is now an ever-growing list of demonstrable incentives for othe
family businesses to follow suit. A third wave of IPOs is expected through FinTech and tech-enabled start-up exits, helping to stimulate new industries with high-growth
potential, while creating strong demand from investors and viable exit options for VC investors.
Dubai as a Capital Markets Hub

Through increased IPO activity, banks, investment banks, brokerage firms and law firms within DIFC’s ecosystem also benefitted significantly from the privatisation of
enterprises, with fees for MENA deals alone exceeding USD 1.2bn and proceeds from MENA equity and equity-related deals exceeding USD 13bn in 2023.

The report also highlights how the region’s capital markets are becoming more mature, driven in Dubai by DIFC’s robust regulatory framework and commitment to
innovation. DIFC is also home to more than 230 investment banks, all of which are stimulating capital markets.

Deepening of Dubai’s capital markets and market reforms, aligned with best practice have helped create greater opportunities for investors in different themes of the eco
As outlined in the report by John Wilkinson, Head of Emerging Markets Equity Capital Markets and Managing Director, Goldman Sachs, DIFC is driving this growth a
attractive jurisdiction for incorporation, through its business-friendly approach towards the rule of law, and how the Centre has grown as a venue for global investors.

A Magnet for Investors
The region is home to a vast range of potential investors. Notably, these include family businesses, and wealthy individuals who are represented by the influx of wealth
asset management firms.
According to recent data, the UAE attracted a record-breaking number of High-Net-Worth Individuals (HNWIs) in 2022, which continued into 2023 and beyond. Curren
there are an estimated 109,900 resident HNWIs, including 298 centi-millionaires and 20 billionaires, prompting DIFC’s estimated 370 asset managers to strengthen thei
presence in the emirate.

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