The DMCC free zone in Dubai now contributes 15 per cent of the emirate’s Foreign Direct Investment (FDI) and 7 per cent of its Gross Domestic Product (GDP), according to results from the first half of 2024.
During this period, DMCC registered 1,023 new companies, bringing its total to nearly 25,000. Significant growth was recorded across commodities, finance, and technology sectors, with the zone now focusing on real estate and Artificial Intelligence (AI) for further expansion.
DMCC’s contribution to FDI rose from 11 per cent last year to 15 per cent, alongside its 7 per cent GDP contribution. For the remainder of 2024, DMCC aims to consolidate real estate developments in Uptown Dubai and Jumeirah Lakes Towers (JLT) and expand its high-value ecosystems, including AI and Web3.
Executive Chairman and CEO, Ahmed Bin Sulayem, highlighted the district’s consistent growth and Dubai’s enduring appeal as a global trade hub. COO Feryal Ahmadi emphasised gains in the commodities and technology sectors, with an optimistic outlook for further expansion in premium real estate and world-class ecosystems.
The technology sector saw the addition of 226 new companies, including nine in AI. The DMCC Crypto Centre grew by over 11 per cent, with 64 new companies, while the energy sector expanded with 159 new companies. Despite global pressures on diamond prices, the Dubai Diamond Exchange (DDE) facilitated a 12 per cent rise in natural diamond trade by volume year-on-year.
To meet growing demand, DMCC continues to enhance its commercial real estate offerings, including new projects in Uptown Dubai and JLT, while also launching premium residential developments. DMCC’s latest Future of Trade report underscores its role as a leading voice in international trade.
