DMCC Strong Performance in H1-2024
The Dubai Multi Commodities Centre (DMCC) has reported exceptional growth in the first half of 2024, contributing to 15% of Dubai’s foreign direct investment (FDI) and 7% of its Gross Domestic Product (GDP). With 1,023 new member companies registered, DMCC’s total now nears 25,000, underscoring its significance to Dubai’s economy.
Growth Across Key Sectors
DMCC’s business district experienced robust growth across various sectors:
- Technology: 226 new companies registered, including gaming and artificial intelligence (AI) firms.
- Crypto Sector: DMCC Crypto Centre added 64 new companies, with seven being Virtual Asset Service Providers (VASPs).
- Energy: 159 companies joined, boosting the sector’s total to over 3,260.
Leadership Remarks
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasized the district’s strong investment performance and Dubai’s continued appeal as a global trade hub. He stated, “Our performance in the first half of 2024 highlights the ongoing strength of investment in our district and Dubai’s enduring appeal as a global trade hub.”
Real Estate Developments
DMCC’s real estate sector also made strides with the launch of several premium projects:
- Uptown Dubai: New residential and commercial spaces, including Mercer House by Ellington and W Residences by Signature Developers, are set to enhance DMCC’s flagship districts.
- Jumeirah Lakes Towers (JLT): Developments like Viewz by Danube, featuring twin 65-storey towers, will offer luxurious living spaces.
Future Growth and Strategic Focus
Looking ahead, DMCC plans to focus on expanding its ecosystems in high-value sectors such as AI and Web3. The upcoming AI Centre in Uptown Dubai is poised to become a leading innovation platform, fostering collaboration and driving AI adoption.
Commitment to ESG Practices
DMCC also continues to emphasize its commitment to environmental, social, and governance (ESG) practices through initiatives like the Sustainability Hub. This regional hub for ESG knowledge and innovation aims to promote best practices among DMCC member companies.
Reinforcing Dubai’s Global Trade Status
Through its ongoing growth and strategic initiatives, DMCC continues to reinforce Dubai’s status as a leading global trade and investment hub, further solidifying its position in the international market.
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