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5/1/24, 2:41 PM Unleashing Growth: DIFC Emerges as Premier Global Hub for Family Businesses | iHeartEmirates

The Centre is further fortified by its work with the Innovation Hub, which supports next

generation owners remain at the forefront of technological mechanisms and applications.

Benefitting from DIFC’s internationally recognised legal system, which is based on English
common law and includes a variety of structures and regimes, family businesses also gain

direct access to accredited advisors, networking opportunities, educational programmes,
and a wide range of experiential events, all within the Centre’s diverse and cosmopolitan

community, which includes some of the city’s top eateries, venues, cultural centres, and

lifestyle destinations.

Recently, DIFC Family Wealth Centre and STEP Arabia signed an MOU to foster the
common interests in relation to guiding family businesses on their journey to achieve multi-

generational success, and to enhance the know-how of advisers to achieve that purpose.

As a societal mechanism for wealth distribution, the DIFC Family Wealth Centre is also a
win for the local economy since family businesses are responsible for 60 per cent of the

UAE’s GDP, 80 per cent of its workforce and 90 per cent of its private companies.

-ENDS-

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced

financial centres, and the leading financial hub for the Middle East, Africa, and South Asia
(MEASA), which comprises 72 countries with an approximate population of 3bn and an

estimated GDP of USD 8trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA
region, the Centre connects these fast-growing markets with the economies of

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