DIFC
is a world class financial district that has a special
magnitude in Dubai. The DIFC is the world's newest
international financial centre, and the most important
one in the whole Middle East. It aims to develop
the same stature as New York, London and Hong Kong,
and is thriving for success. It primarily serves
the vast region between Western Europe and East
Asia.
In the heart of Dubai, next to the newly developing
Business Bay and the spectacular Burj Dubai that
is under construction, and directly on Sheikh Zayed
Road, DIFC has a prime location in Dubai. DIFC is
the only free zone inside Dubai, which elevates
its significance.
The DIFC creates an environment for progress and
economic development in the UAE and the wider region.
Firms operating in the DIFC are eligible for benefits
such as a zero tax rate on profits, 100 per cent
foreign ownership, no restrictions on foreign exchange
or repatriation of capital, operational support
and business continuity facilities.
The
DIFC focuses on several sectors of financial activity:
Banking Services (Investment Banking, Corporate
Banking & Private Banking); Capital Markets
(Equity, Debt Instruments, Derivatives and Commodity
Trading); Asset Management and Fund Registration;
Insurance and Reinsurance; Islamic Finance; Business
Processing Operations and Ancillary Services.
The
DIFC is very limited space wise, and yet it is very
popular and attractive for investment, which leads
to the exponential rise in prices which have reached
DHS 2500 / sq ft, and are still increasing. The
Gate is the symbol of DIFC and was built in the
first phase, and stands for a unique combination
of cosmopolitan lifestyle.
Ever since the first banks and financial institutions
moved in DIFC two years ago its appeal has been
on the rise. Offices, apartments, services apartments,
shops, hotels and restaurants will be developed
in DIFC and combined with sports, fitness and leisure
facilities. Moreover, other developments like a
museum, an art gallery, a cultural centre, a theatre
and much more will be established in DIFC.
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