Dubai’s Financial Center Expects ‘Busiest Year’ as Firms Rush In

Dubai’s financial center is expecting a record number of firms to set up in the Middle East business hub this year after attracting hedge fund heavyweights such as Millennium Management and asset managers like State Street.

“This year is going to be our busiest year ever,” Ian Johnston, the chief executive officer of the Dubai Financial Services Authority, said in an interview. The regulator of the Dubai International Financial Center issued 117 new financial services licenses in 2023, and this year “we are already about 50% ahead of where we were this time last year,” he said.