DUBAI — The United Arab Emirates’ capital city of Abu Dhabi is swiftly transforming into the region's preeminent financial hub, with more international companies choosing to set up shop in the emirate.
Abu Dhabi's robust economy, strategic initiatives, infrastructure investments and regulatory reforms have attracted global investment firms and hedge funds including Brevan Howard, Fiera Capital, TCI Fund Management and Morgan Stanley. These factors have positioned the emirate as a strong competitor to established global financial centers.
The city has experienced strong economic growth, including a 9.1% increase in non-oil sectors and 3.1% real total GDP growth in 2023 compared with the previous year, according to the Statistics Centre - Abu Dhabi (SCAD).
The Abu Dhabi Global Market (ADGM), an international financial center and free zone located on Al Maryah Island in Abu Dhabi, has emerged as the fastest-growing economic hub in the Middle East and North Africa for two consecutive years. In the first quarter of 2024, ADGM's assets under management (AUM) soared by a record 211%, the financial center reported in May.
