632.3 million dirhams revenues "Dubai Financial" During 2024

Dubai, January 30 / WAM / Dubai Financial Market Company announced today its unified results for the fiscal year ending December 31, 2024, as the market recorded an increase of 24 %in the net profit “before the tax”, which amounted to 409.3 million dirhams, compared to 329.6 million dirhams in 2023.

The company announced the achievement of total revenues of 632.3 million dirhams for the entire fiscal year 2024, with a growth of 15.5% compared to the previous year.

This growth came driven by strong trading volumes, abundant capital flows, remarkable increase in investor activity, including individuals and institutions, stable performance of the market, as well as improved investment returns.

The Dubai Financial Market achieved strong results for the period ending December 31, 2024, crowning its position as the leading financial market in the region.

During the year, the market witnessed three primary public subscriptions, including the inclusion of “Talaat” company, which ranked first as the largest initial publication of technology in the world for this year.

The Dubai Financial Market Index achieved a strong leap of 27.1%, closed at the level of 5,158.67 points at the end of the year, which is its highest level since September 2014, while constituted a prominent achievement for the past decade period.

Dubai has also maintained its distinguished position as the best performance in the Gulf Cooperation Council countries for the second year in a row, and this remarkable growth of the index is considered the largest annual gain in three years and enhances the path of the upward Dubai financial market for the fourth year in a row. The market value of the companies listed in the Dubai Financial Market increased during the year 2024 to 907 billion dirhams, an increase of 32% compared to 688 billion dirhams in 2023.

The average daily trading value increased by 5%, to reach 423 million dirhams, while the total trading value of 5.5% to 107 billion dirhams.

During the meeting of the company’s board of directors today, the annual results were discussed and approved in preparation for their presentation during the upcoming annual general assembly meeting, and the Board of Directors recommended distributing cash profits to shareholders of 256 million dirhams, at 3.2% of the capital, and 97% of the total detained profits for distribution .

His Excellency Hilal Saeed Al -Marri, Chairman of the Dubai Financial Market Board of Directors said that the strong results achieved by the Dubai Financial Market are an important achievement that will enhance Dubai’s position as a leading destination that attracts global investors, in line with the aspirations of the rational leadership to establish the emirate’s position as a leading global financial center, as it strengthened the Dubai market Financial is its location as the best performance market in the region, continuing to achieve more growth, reflecting Dubai’s ambitious vision and its global infrastructure, in addition to its firm commitment to providing new opportunities for both companies and individuals.

He added that after all the achievements we have made, starting with the initial general subscriptions that have achieved record returns, to strong trading activity, launching innovative products and enhancing the participation of foreign investors, our focus will continue to attract global capital and keep them to achieve a sustainable value for all concerned authorities.

Operating income contributed to 353.1 million dirhams of unified revenues, while investment returns and other revenues contributed 279.2 million dirhams.

The total costs with the exception of the tax were 223 million dirhams, compared to 217.9 million dirhams during the year 2023.

Commenting on the achievements of the market during the year 2024, Hamed Ali, CEO of Dubai Financial Market and NASDAC Dubai said that this year constituted a detailed turning point for our business, where we expanded our portfolio and we have made more opportunities for a variety of investors and exporters alike, and we succeeded through infrastructure Innovative Dubai Financial Market and our various initiatives, in consolidating the leading market position at the forefront of financial markets, which strengthened the pioneering role of Dubai as a major global destination for financial activity.

He added that the achievements of 2024 reflect the level of development and growth in the financial markets in Dubai, and the success of the prominent subscriptions that we witnessed in 2024, in addition to increasing trading activity and the participation of foreign investors, contributes to enhancing Dubai’s attractiveness as a preferred destination for companies and investors from all over the world.

He expressed his aspiration in the next stage to continue to focus on building a transparent and innovative financial market to push the future growth march, noting that the participation of investors from the individual segment in the Dubai Financial Market witnessed remarkable growth during the year 2024, as the individual investor sector contributed to 35% of the total Trading activity during the past year, which reflects the impact of individual investors, which has emerged strongly in the recent initial subscriptions, as the shares allocated to individual investors have been increased in response to strong demand, and Spines increased its share allocated to individual investors from 5% to 7%, while Barkan has deliberately to It raised its share from 10% to 12%, and the improvements applied by the Dubai Financial Market to facilitate the access of individual investors to investment opportunities through digital platforms and simplified subscription operations are among the most prominent factors that motivated this wide growth.

The Dubai Financial Market Index recorded its highest level in a full decade, as it achieved an increase of 27.1% at the end of December 2024, which represents the largest annual gain within three years, and this increase continues for the fourth year in a row, confirming the strong investor confidence in the region and the world, to The part of the stable environment in the market.

During the year, the market attracted 138,262 new investors, which constituted a strong increase of 120.5% compared to 62,676 new investors in 2023, noting that 85% of new investors are foreigners, as foreign investors contributed to the alternation of 50% of the total trading value in the year 2024 compared to 47% in 2023 “with a capital share of 21% of the total market value when the market is closed by the end of the year.

The market witnessed a noticeable increase in investors’ demand from the institutions segment, as their share in the trading value increased significantly to 65% compared to 58% in 2023, which reflects the high market attractiveness for a variety and growing rule of investors. The Dubai Financial Market also witnessed a strong year of primary public subscriptions, recording three successful listing operations, which varied between family companies, private sector companies and government agencies.

These subscriptions contributed to the promotion of market activity significantly, as the Burken and Spinnes companies and requests through their subscriptions gathered total returns of 10.48 billion dirhams, which constituted a significant increase compared to the primary public subscription returns in 2023, amounting to 1.97 billion dirhams.

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