The Dubai International Financial Centre (DIFC) Courts have announced their performance results for the first half of 2023. These figures demonstrate a remarkable increase in the total value of claims and highlight the growing prominence of Dubai’s common law jurisdiction in international dispute resolution.
Key highlights of the report include:
- Record Value of Claims: The total value of cases across all divisions of the DIFC Courts witnessed an exceptional surge, showing a 692% increase in the first half of 2023 when compared to the same period in 2022. The accumulated value of claims reached AED 15 billion.
- Number of Cases: The number of cases filed across all divisions during this period was 455, indicating a substantial rise in the caseload.
- Court of First Instance (CFI): The main Court of First Instance saw the filing of 52 cases, contributing significantly to the total value of claims. The combined value of these cases amounted to AED 14.9 billion, with an average case value of AED 427.2 million.
- Arbitration Division: Cases within the Arbitration Division under the Court of First Instance exhibited noteworthy growth as well. The total value of claims in this division reached AED 12.9 billion, with an average claim value of AED 1.6 billion.
- Ancillary Services: The DIFC Courts also noted a substantial uptake of additional ancillary services, including Wills registration. This diversification of services further solidifies Dubai’s status as a leading destination for international dispute resolution.
Justice Omar Al Mheiri, the Director of DIFC Courts, highlighted that the courts are operating based on a strategic roadmap for the years 2022-2024. This roadmap aligns with national economic agendas and digital strategies, enhancing the efficiency and effectiveness of the DIFC Courts. The surge in public service utilization during this period reflects the increasing recognition and trust in the courts’ expertise, efficiency, and streamlined processes. The advanced digital infrastructure supporting the DIFC Courts positions them as an attractive choice for both domestic and international businesses seeking swift and reliable dispute resolution.
Overall, the reported data underscores the DIFC Courts’ substantial growth and their instrumental role in advancing Dubai’s position as a premier hub for resolving international disputes within a common law framework.