The Dubai International Financial Centre (DIFC) has recently attracted several noteworthy names, bringing the total number of wealth and asset management firms to above 300.
DIFC’s 300 wealth and asset management firms form a $450 billion sector.
Recent significant new wealth & asset management (WAM) firms in DIFC include Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited, and The Family Office Company
By the end of 2022, the Center housed more than 150 funds. This experienced strong growth in the first quarter of 2023, underscoring the center’s commitment to providing a favorable environment for enterprises in the region – a key engine of economic growth.
With $517 billion in wealth, Dubai has the most of any Middle Eastern metropolis, and global and regional asset management organizations continue to be interested in establishing offices in DIFC.
Read more: DIFC announces launch of its venture building platform ‘DIFC Launchpad’
Dubai is especially appealing to the sector because it is home to over 55,000 high and ultra-high-net-worth individuals.
More than $3 trillion in private wealth is within an hour’s flight of the city, and $8 trillion is spread over the region.
The Dubai Financial Services Authority, which regulates DIFC says it has a solid pipeline of digital asset firms and global hedge funds eager to establish themselves in the emirate’s financial center, Ian Johnston, the Authority’s chief executive said.
According to Johnston “dozens of companies” are looking to develop numerous trading platforms, give alternative trading methods.
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