DUBAI, UAE - 4 May, 2015: Dubai International Financial Centre Investments (DIFCI) reported revenues of US$222 million for the fiscal year 2014, compared to US$187 million during 2013 - an increase of 18.7%.  Its gross profit rose to US$181 million for the year 2014, as compared to US$147 million in 2013 - an increase of 23%. 

DIFCI also reduced its overall debt by US$156 million over the course of 2014. Total operating companies in DIFC increased by 18% year-on-year to 1,225 firms at the end of 2014, compared with 1,039 in 2013. The financial free zone recorded its best year since 2008, with its workforce growing by 14% to almost 18,000.

His Excellency Essa Kazim, Chairman, DIFC Investments LLC and Governor DIFC, said, "I would like to thank all stakeholders for the confidence demonstrated in DIFCI and for the support provided to the organisation that has helped us achieve our goals and maintain stability and growth in our business. We are confident 2015 will prove to be yet another landmark year for DIFCI and DIFC."

Essa Kazim added, "DIFC is the only centre in this broad region of more than 2.8 billion consumers that serves as a financial gateway to these markets, armed with world-class legal and regulatory regime and infrastructure.  That being said, our 10-year US$700 million Sukuk to refinance bank debt was also well received by the market. The successful execution of the Sukuk is a reflection of DIFCI's ability to generate sustainable revenue streams and the commitment to support Government of Dubai's vision of being a global financial hub. 

Commenting on the annual results, Rajesh Pareek, Chief Financial Officer, Dubai International Financial Centre said, "The financial results reflected stable earnings, enhanced capital structure and a diversified business model of steady rental cash flows. Assets of the financial centre are growing with investments that are focussed on the Real Estate portfolio within DIFC to increase capacity and future recurring revenues."

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About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region's markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses. The Centre offers all the elements found in the world's most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels. Located midway between the global financial centres of London in the West and Singapore in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America. Currently, more than 1,225 active registered companies operate from the Centre, including 21 of the world's top 25 banks, 11 of the world's top 20 money managers, 7 of the top 10 insurance companies, and 9 of the top 10 law firms.Nearly 18,000 people work in the Centre. DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 2.8 billion and nominal GDP of US$ 6.9 trillion.  

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

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© Press Release 2015