Skip to content Skip to Search
Skip navigation

New investors joining DFM rise 13% in 2023

Drake & Scull's trading ceased in November 2018 when the company disclosed losses exceeded 75 percent of its capital Wam
Drake & Scull's trading ceased in November 2018 when the company disclosed losses exceeded 75 percent of its capital

The number of new investors at the Dubai Financial Market (DFM) increased 12.5 percent year on year to 57,054 in 2023.

The growth was driven by several factors, including the strong momentum in the market following the listing of government and semi-government companies and the increasing popularity of online trading, the UAE state-run Wam news agency reported, citing data issued by the DFM.

December saw the largest spike of 184 percent year on year, with 6,088 new accounts opened. This was due to the strong demand from investors for the initial public offering (IPO) of the Dubai Taxi Corporation.

A total of 29 brokerage firms executed over 3.83 million transactions in 2023, a 32.7 percent increase compared to 2.88 million in 2022.

In October 2023, DFM reported a 109 percent rise in net profit to AED186.2 million ($50.69 million) in the first nine months of the year, compared to AED89 million a year earlier.

The profit was driven by a significant increase in trade volume and value, as well as an influx of new investors.

Revenue increased by 48 percent to AED351.8 million in the year to September 2023 from AED237.8 million a year ago.

Latest articles


Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]

Fertiglobe will ensure a secure supply of renewable hydrogen through the Egypt Green Hydrogen plant

Fertiglobe to supply renewable ammonia to Europe

Abu Dhabi-listed fertiliser maker Fertiglobe has won the first global bid to supply renewable ammonia to the European Union (EU) as the trade bloc ramps up decarbonisation efforts. The company, a partnership between UAE oil giant Adnoc and Netherlands-based OCI, will supply 19,500 tonnes of renewable ammonia in 2027, with volumes potentially rising to 397,000 tonnes by 2033 […]