The Dubai Financial Market (DFM) is currently the standout performer in the Gulf Cooperation Council (GCC) region, showing impressive growth of 10.9% since the start of 2024. This robust performance highlights Dubai’s strength as a financial hub and has attracted considerable attention from investors.
In September alone, the DFM General Index saw a 4.1% increase, marking its fourth consecutive month of growth. This positive momentum is primarily driven by strong performances in key sectors, particularly finance and real estate, which have significantly bolstered the overall index.
Here are the key highlights of the recent report:
Index Performance: The DFM’s General Index closed September at 4,503.48 points, reflecting a broad-based growth across various sectors.
Sector Contributions:
- The Financial Index rose by 3.6%.
- The Real Estate Index increased by 3.1%.
- The Communications Services Index experienced the most significant growth at 11.1%.
Regional Comparison:
- The DFM’s strong performance contrasts with other markets, as the FTSE ADX General Index in Abu Dhabi saw a modest 1.5% increase.
- Other GCC markets also reported gains, including the Qatar Stock Exchange (+4%), the Bahrain Bourse (+2.8%), and Saudi Arabia’s TASI (+0.7%).
This upward trend in Dubai’s financial market showcases a thriving economic environment, making it an attractive destination for both local and international investors.
