The Dubai Financial Market (DFM) recorded significant milestones in 2024, with foreign investors accounting for 50% of total trading value, up from 47% in 2023. Overseas investors also made up 85% of the 138,262 new participants, reinforcing DFM’s status as the most active stock market in the Gulf for the second consecutive year.
The surge in investor interest was largely driven by high-profile IPOs, including Parkin, Spinneys, and Talabat, which collectively raised AED 10.48B. Institutional investors also played a key role, with their participation rising to 65% from 58% in 2023, underscoring DFM’s growing appeal among a diverse investor base.
For 2024, DFM’s Board has proposed a dividend of AED 256M, representing 3.2% of its capital and 97% of available retained earnings, slightly lower than the AED 280M payout for 2023. CEO Hamad Ali highlighted that strong IPO activity and foreign investment reaffirm Dubai’s position as a prime global investment hub.
DFM is inching closer to a AED 1T market capitalisation, closing 2024 at AED 907B, a 32% increase from AED 688B in 2023. Average daily trading value rose by 5% to AED 423M, while total traded value grew by 5.5% to AED 107B, reflecting heightened investor activity.
The DFM General Index surged 27.1% to 5,158.67, its highest level since 2014 and the largest annual gain in three years. This growth continues the market’s upward trend, which began with DEWA’s IPO in 2022 and Dubai’s wider privatisation efforts.
In terms of financial performance, DFM reported revenues of AED 632.3M for 2024, a 15.5% increase from the previous year. This included AED 353.1M in operating income and AED 279.2M from investment returns, with net profit rising to AED 376.3M from AED 329.5M in 2023.