DUBAI, UAE – Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center (DIFC).
This milestone reinforces DIFC’s position as the leading financial center for WAM companies in the Middle East Africa South Asia (MEASA) region.
With an industry size of US$450 billion, DIFC’s 300 WAM firms represent a commitment towards providing a conducive environment for businesses in the region.
The financial center’s world-class legal and regulatory framework, collaborative approach and access to competitive and globally connected markets have bolstered the depth and breadth of its asset management ecosystem.
Dubai’s US$517 billion of wealth – the highest in any Middle Eastern city – along with its more than 55,000 high net worth and ultra-high net worth individuals, continues to attract global and regional asset management firms to set up offices in DIFC.
Recent notable WAM firms to establish themselves in DIFC include Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited, and The Family Office Company.
Salmaan Jaffery, the Chief Business Development Officer at DIFC Authority, highlights that the private wealth amounting to US$8 trillion in the Middle East, Africa, and South Asia region presents a compelling reason for WAM firms to set up their businesses in DIFC.
This reinforces DIFC’s reputation as a premier financial center in the MEASA region for WAM firms.
Its growing list of prestigious firms indicate that DIFC has succeeded in its commitment for creating an ecosystem that provides unparalleled support for the evolving needs of such companies and institutions.