Aref Amiri, chief executive of the Dubai International Financial Center (DIFC), has predicted major economic growth in 2024, supported by several government initial public offerings (IPOs) in the UAE and Saudi Arabia.
Publish dateFriday 14 June 2024 - 00:42
The resounding success of Parkin's IPO, which was oversubscribed 165 times and attracted $71 billion in demand, demonstrates the importance of this strategy, he cited.
He noted that IPO spending in the Middle East and North Africa has exceeded $1.2 billion, and equity and equity transactions will generate $13 billion in 2023.
Amiri explained that the influx of wealthy people into Dubai, which will total 109,900 in 2023 - including 298 millionaires and 20 billionaires - has boosted DIFC's more than 370 asset management companies.
To further meet this demand, DIFC also officially launched the first-of-its-kind Family Wealth Center in March 2023 to support family businesses.
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Source : news agency wam
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