Dubai International Financial Centre sees income rise

19/07/2011 - Dubai Investment News Posted by Neil King
Dubai International Financial Centre sees income rise

A leading Middle Eastern business park has posted a significant rise in income, it has been reported.According to its latest figures, Dubai International Financial Centre (DIFC), a tax-free business park for financial-services companies operating in the region, saw income rise by 5.2 per cent between 2009 and 2010.The increase saw the centre's gross domestic product reach $2.92 billion from $2.77 billion in the previous year.Nasser Saidi, DIFC's chief economist, also revealed that the centre now accounts for 838 financial service firms and 302 business service enterprises after seeing rises of 8.2 per cent and 4.1 per cent respectively.He commented: "The bulk of the companies have come from emerging markets, India, China, South Korea, and our strategy is very much to focus on emerging markets."The safe haven effect is important for the U.A.E. and Qatar that will mean that the results of 2011 will be substantially better."