Dubai International Financial Centre key to Dubai’s economy

Staff Reporter, Gulf Today

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA), has recorded strong financial results for 2024, reinforcing Dubai’s position as the region’s financial services capital.

The centre now houses 6,920 active companies, a 25 per cent increase from 5,523 in 2023. DIFC also recorded 1,823 new registrations in 2024, the highest annual figure to date, reflecting historic 25 per cent growth.

DIFC’s total revenue for 2024 reached Dhs1.78 billion (US$484 million), marking the largest annual increase since the centre’s inception and a 37 per cent rise from its record-breaking performance in 2023. Operating profit surged to Dhs1.33 billion ($363 million), up 55 per cent.

Regional wealth is no longer defined by borders. As clients become more globally connected, the expectations they place on financial institutions are also changing. Longevity, portability, and regulatory transparency are taking precedence over products alone. For firms with deep regional roots, this shift calls for a recalibration, not just in what they offer, but in how and where they operate.

The DIFC, regulated by the Dubai Financial Services Authority (DFSA), has emerged as a crucial platform for firms navigating these demands. Its framework enables cross-border advisory models that are both compliant and scalable — qualities that increasingly define trust in the financial space.

The Continental Group, a financial services provider with three decades of experience in the Middle East, is one such firm adapting to this shift through its DFSA-licensed entity, CFS DIFC Limited.

Continental Group is marking its 30th year of operations - a period in which the firm has grown across five countries with over 250 professionals. While the DIFC license reflects the next step in the firm’s regulatory evolution, the anniversary serves as a moment to reflect on its roots. with a larger milestone.

“Continental Group’s legacy is a story of thousands of families safeguarded, aspirations turned into reality, and three decades of trust garnered in the Middle East,” said Ashok Sardana, Founder and Managing Director. “Since 1994, our mission has been to provide not just financial solutions, but peace of mind and long-term stability for families and businesses. That principle will continue to guide us as we move into the next phase of Continental’s growth.”.

The firm’s recent performance reflects this transition. In 2024, Continental reported a 26% increase in premiums, reaching $124 million. Its total active life coverage rose to $6.9 billion, and $7.4 million was paid out in claims across its motor, non-motor, and life insurance portfolios.

Much of this growth has been enabled by the operational clarity and business infrastructure DIFC offers. With access to a mature legal system, independent regulation under the DFSA, and proximity to global financial institutions, Continental has been able to enhance its advisory capabilities in a jurisdiction designed for financial planning. For firms looking to future-proof their services, DIFC’s platform offers both credibility and scalability.

These figures suggest not only business growth but a rising awareness among clients of the value of financial preparedness. The firm is now doubling down on that opportunity. It plans to expand its advisory team by 20% and invest further in digital infrastructure - including automation, cybersecurity, and portfolio insights tools - as part of its next growth phase.

“This 30th anniversary celebrates the relationships we’ve built and lives we’ve touched. Our commitment goes beyond just offering solutions. We have been building a framework that ensures financial security across generations. As we move forward, transparency, and a client-first approach will remain at the core of everything we do,” said Akshay Sardana, SEO, Executive Director, CFS DIFC Limited.

Continental’s presence in DIFC may mark a milestone in its operational evolution, but more broadly, it points to a regional realignment. Long-standing firms are reassessing how to deliver enduring value where regulatory trust, digital agility, and advisory depth matter as much as products. In that shift, DIFC is becoming less of a destination and more of a foundation for firms looking to build for the long haul.

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai.  DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies.