Page 226 - AAE PR REPORT - June 2024

5/29/24, 3:54 PM DIFC Publishes Regional Outlook for Banking and Capital Markets. | UAE News 24/7
Through increased IPO activity, banks, investment banks,
brokerage firms and law firms within DIFC’s ecosystem also
benefitted significantly from the privatisation of state 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 economy. 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 as an 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

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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 of 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. Currently, there are an estimated
109,900 resident HNWIs, including 298 centi-millionaires and 20
billionaires, prompting DIFC’s estimated 370 asset managers to
strengthen their presence in the emirate.

The full report is available here [https://shorturl.at/AYB2r].

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