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Dubai’s DIFC Expands as a Key Financial Hub for Global Wealth Management

The Dubai International Financial Centre (DIFC) now hosts over 370 wealth and asset management firms, asserting its role as a significant financial hub in the the Middle East, Africa, and South Asia (MEASA) region.

This growth – with firms hailing from Asia Pacific, GCC, Europe, UK and the US – reflects the centre’s provision of infrastructure, regulatory frameworks and access to both established and emerging markets, attracting firms from across the globe.

Arif Amiri, CEO of DIFC Authority, said: “Large pools of wealth embedded in sovereign funds, family offices, and via ultra-high-net-worth individuals, coupled with the stability and success of DIFC’s 20-year track record, continue to draw in the world’s best investment managers ranging from traditional to alternative managers.”

New wealth asset management firms establishing in the Centre include Audere Capital Limited, Banca Del Sempione Ltd, Blue Owl Capital (Dubai) Limited, Capital Asset Management (DIFC) Limited, 24 Capital Management Ltd, El Dorado Capital Limited, GID Investment Advisors LLC, Hayfin, Novia Global Limited, Ominvest Capital (DIFC) Limited, Patient Square Capital (DIFC) Limited, Point72 (DIFC), Taula Capital Management (DIFC) Limited and Theia Investments Limited.

Additionally, State Street Global Advisors (SSGA) has marked its return to Dubai to offer asset management services, including index exposures, ETFs, and active cash management solutions from a DIFC office. SSGA also plans to double its resources across the region with portfolio management and investment specialists.

More than 72,000 individuals in Dubai have more than $1million of investable wealth, which is triple the number of any other city in the region. Furthermore, $4.7trillion of capital is managed by Middle Eastern state-owned investors.

The DIFC is also observing its 20th anniversary with a series of financial events, including the HFM Middle East Summit for hedge fund managers, touted as the largest such gathering in the Middle East. The Summit will bring together over 200 global leaders including over 120 hedge fund representatives.

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