Dubai Financial Market's Stellar 2024 Performance
Dubai Financial Market (DFM) reports a remarkable growth in 2024, showcasing strong financial performance and investor confidence.
Summary
Dubai Financial Market (DFM) achieved significant growth in 2024, with a 24% increase in net profit and a 32% rise in market capitalization, driven by robust trading volumes and successful IPOs.
The Dubai Financial Market (DFM) has reported a remarkable financial performance for the year 2024, marking a significant milestone in its growth trajectory. With a 24% increase in net profit (pre-tax) to AED 409.3 million, up from AED 329.6 million in 2023, DFM has demonstrated its resilience and capacity to attract substantial capital inflows. This impressive growth was fueled by robust trading volumes, a surge in both retail and institutional investor activity, and sustained market performance.
One of the standout achievements for DFM in 2024 was the successful execution of three major Initial Public Offerings (IPOs), including the highly anticipated listing of Talabat, which emerged as the largest global tech IPO of the year. These IPOs collectively raised AED 10.48 billion, underscoring DFM's capability to attract high-profile listings and solidify its position as a leading financial exchange in the region.
The DFM General Index soared by 27.1%, closing the year at 5,158.67, its highest level since September 2014. This decade-high performance highlights DFM's upward trajectory, marking the fourth consecutive year of growth and reinforcing Dubai's status as the GCC's best-performing market for the second year in a row. Additionally, market capitalization surged by 32% to AED 907 billion, reflecting investor confidence and the exchange's robust market fundamentals.
DFM's ability to onboard 138,262 new investors, with 85% being foreign nationals, further emphasizes its global appeal and strategic positioning as a premier destination for international investors. The Board of Directors has proposed a cash dividend of AED 256 million, representing 97% of the total retained earnings available for distribution, showcasing DFM's commitment to delivering value to its shareholders.
H.E. Helal Al Marri, Chairman of DFM, commented on the results, stating that the strong performance reinforces Dubai's ambition to establish itself as a leading international financial hub. The consistent growth reflects the emirate's vision, world-class infrastructure, and commitment to creating opportunities for businesses and individuals alike.
Given the exceptional performance and positive outlook, investors may consider a buy recommendation for DFM shares. The exchange's strategic initiatives, coupled with its ability to attract global capital and deliver value, position it as a compelling investment opportunity for those seeking exposure to the dynamic financial markets of the UAE.
Source
Summary
The Dubai Financial Market (DFM) reported strong growth in 2024, with a 24% increase in net profit (pre-tax) to AED 409.3 million, compared to AED 329.6 million in 2023. The DFM General Index rose by 27.1%, reaching its highest level since September 2014, and market capitalization increased by 32% to AED 907 billion. The market onboarded 138,262 new investors, with 85% being foreign nationals, and raised AED 10.48 billion through three successful IPOs. The Board of Directors proposed a cash dividend of AED 256 million, representing 97% of the total retained earnings available for distribution. The results underscore DFM's position as a leading financial exchange in the region, driven by robust trading volumes, capital inflows, and increased investor activity.
