On September 18, 2004, Dubai’s international financial free zone, the Dubai International Financial Centre (DIFC), opened for the first time.
The next year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said: "Dubai and the UAE have moved into the more sophisticated world of high finance. And I am pleased to learn that in only one year of operation, the Dubai International Financial Centre has surpassed all expectations."
He also said: “We are a living proof that when human beings have the courage and commitment to transform a dream into reality — there is nothing that can stop them."
In its first year, DIFC had hoped to attract 15 companies, but instead managed to bring in more than 100. It has since attracted more than 4,000 companies, growing into the largest financial centre in the Middle East and Africa, and the 19th biggest in the world, according to the Global Financial Centres Index ranking published last year.
Today, DIFC is the world’s best-performing free zone in attracting foreign direct investment (FDI) projects in the financial services. Last year, a report from the Dubai Investment Development Agency said that its success helped propel Dubai to the top international spot for attracting FDI — performing better than other major hubs such as London, Singapore, New York and Paris.
Looking ahead, DIFC is setting up the world’s first global centre for ultra-wealthy and family businesses, in a bid to double its contribution to Dubai’s economy by 2030. The centre is expected to bring family businesses and ultra-high net worth individuals — people with a net wealth of $30 million or more — to the emirate from other regional and global markets.
It has also called for financial centres around the world to become more green, digital, inclusive and collaborative by 2030.
But DIFC is more than simply a financial centre. Nestled within its striking architectural landmarks is a dynamic array of art galleries, five-star hotels, coffee shops, high-end boutiques and restaurants — centred on the downtown destination, Gate Village.
Earlier this year, DIFC transformed the area around the landmark Gate Building into a sculpture park, to commemorate the UAE's Golden Jubilee. The open-air gallery featured 50 sculptures, as well as paintings by established local and international artists.
As the centre continues to add to its allure with projects such as the sprawling Gate Avenue, DIFC looks set to continue propelling the growth of Dubai's economy, and cultural landscape, for years to come.
Scroll through more images of the DIFC sculpture park below
Schedule:
Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles
'The Predator'
Dir: Shane Black
Starring: Olivia Munn, Boyd Holbrook, Keegan-Michael Key
Two and a half stars
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TYPES%20OF%20ONLINE%20GIG%20WORK
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
THE%20HOLDOVERS
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More on Quran memorisation:
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
More on animal trafficking
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Company%20Profile
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Kandahar%20
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COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
Naga
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'Operation Mincemeat'
Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
Read more from Johann Chacko
Brief scoreline:
Wolves 3
Neves 28', Doherty 37', Jota 45' 2
Arsenal 1
Papastathopoulos 80'
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Results
5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan
6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel
6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi
7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi
