Dubai’s economic performance indicators exceeded expectations in the first half of 2023, paving the way for record results in the coming months and heralding a new start in 2024, according to Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
In term of indices, Dubai received more than 8.5 million international visitors in 6 months, while the market capitalization of shares of listed companies on its stock market reached 652 billion dirhams ($177.4 billion) with trade volumes since the beginning of the year exceeding AED 46 billion ($12.5 billion). The percentage of institutional trading in the DFM reached 57 percent, and the share of foreigners in trading in the market reached 48 percent.
Statistics indicated that these figures enhance the emirate’s position as a global financial center and fall in line with the objectives of the Dubai Economic Agenda, or what is known as “D33”, which places among its main priorities that Dubai is among the top 4 global financial centers.
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NASDAQ Dubai achieved strong results in 2023, with the total value of Sukuk listed on the exchange reaching $75 billion, making it one of the largest sukuk listed markets in the world.
This comes at a time when Dubai is among the 3 global cities that attract the most wealthy, and among the top cities in the world that recovered from Covid-19.
“We are proud of what we have achieved over the past months, and we are proud of the world’s confidence in us,” said Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, stressing that “what we are witnessing today in terms of economic achievements, and what we aspire to achieve in the future, is the result of a long agenda of strategic planning, effective institutional work and flexibility of procedures, efficiency in dealing with global developments and new trends in the world of finance and business, and the confidence of major investment institutions, international companies and business magnates.”
Demand for real estate in Dubai continued to grow robustly in 2023, with the total value of real estate transactions in the first half of this year reaching AED 285 billion ($77.5 billion). The strong performance of the real estate sector is a vital supporter of the objectives of the Dubai Economic Agenda, which aims to provide a global climate for doing business and for sustainability.
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