On 21 October 2025, Sirma Group Holding JSC registered a new subsidiary, Sirma FZE, in Dubai, in which it owns 100% of the capital. The capital of the new company is AED 100,000, divided into 100 shares with a par value of AED 1,000, and the CEO is Julian Maslyankov. The company is registered with the Registrar of Companies of the Dubai World Trade Centre Authority.
The new entity will offer business and IT consultancy, AI enablement, software system development, and cybersecurity consultancy. Sirma’s Board of Directors has approved that now is the right time to enter the region and has taken effective steps to establish a local company. Yulian Maslyankov, CEO of the new company, shared:
In recent years, the demand for IT services in the Middle East has surged. With the establishment of a newly registered company, Sirma aims to strengthen its position in this promising market. The regional landscape is both lucrative and full of opportunities. By opening a new office in Dubai, technology companies can reap significant benefits, particularly in light of the growing demand for FinTech and InsurTech solutions.
The regional market trends prove that this is a very promising endeavor indeed. The UAE FinTech market is projected to reach USD 46.67 billion by 2025 and grow to USD 81.55 billion by 2030. This growth is driven by high smartphone penetration, the adoption of artificial intelligence (AI), and supportive regulatory frameworks such as the Dubai International Financial Centre (DIFC) and the Virtual Assets Regulatory Authority (VARA). Dubai currently leads the market with a 60.23% share, hosting over 7,700 active companies in the DIFC, underscoring its thriving innovation ecosystem.
The InsurTech sector is also experiencing rapid expansion, with a valuation of USD 8.5 billion anticipated in 2024. Health insurance is at the forefront of this growth, driven by mandatory coverage requirements and the increasing adoption of digital platforms.
Additionally, government initiatives such as the Dubai Universal Blueprint for AI and the Digital Dirham pilot are further accelerating digital transformation. These initiatives facilitate instant, programmable settlements and enable cross-border integration of central bank digital currencies (CBDCs).
Dubai’s strategic location, along with the allowance for 100% foreign ownership in free zones and its robust digital infrastructure, makes it an ideal hub for scaling operations across the MENA region, Asia, and Africa.
