ADGM Leads Financial Growth in Abu Dhabi

ADGM, the international financial center of Abu Dhabi, has demonstrated remarkable growth in the first quarter of 2024. Assets Under Management in ADGM have surged by an impressive 211% compared to the same period in 2023, solidifying its position as the fastest-growing financial center in the region.

The asset management sector in ADGM has experienced significant development, attracting global asset managers and leading to a surge in Assets Under Management. Currently, ADGM is home to 107 fund and asset managers overseeing 137 funds, showcasing its appeal as a comprehensive financial hub.

One of the key factors driving ADGM's growth is its application of English common law, which has attracted a diverse range of regional and global firms. The total number of operational entities in ADGM has increased by 30% compared to the previous year, reaching 1950 entities, including 291 financial services entities.

With a workforce of over 25,000 individuals, ADGM reflects the attractiveness of Abu Dhabi as a destination for professionals. The city's high quality of life, world-class amenities, and infrastructure make it a preferred location for businesses and individuals alike.

Looking ahead to 2024, ADGM anticipates further growth, with 70.81% of companies planning to expand their workforce in the financial center. This positive outlook underscores Abu Dhabi's strong economic health and the confidence within the business community in the conducive environment of ADGM.

ADGM's current focus is on transitioning businesses to Al Reem Island, with initiatives in place to support this migration process. The launch of an information center and incentive initiatives for businesses on the island aim to facilitate a smooth transition and enhance the business environment in ADGM.

ADGM's impressive growth in the first quarter of 2024 highlights its position as a thriving international financial center. With a strong foundation and a conducive business environment, ADGM is poised for continued success, attracting global firms and professionals to Abu Dhabi. The future looks bright for ADGM as it continues to expand and enhance its offerings, solidifying its reputation as a key player in the global financial landscape.