Latest News

Abu Dhabi's financial hub sees 42% increase in active companies

Abu Dhabi's financial centre reported a 42% increase year-on-year in the number of registered entities for the first half 2025. Global firms are looking to gain access to the powerful sovereign wealth fund in the emirate and to expand their presence in Gulf.

Abu Dhabi Global Market reported an increase of 42% in assets under management from last June. The financial hub is now home to 154 asset and fund managers who manage a total 209 funds. ADGM is an English Common Law financial free zone.

Abu Dhabi, the city that holds 90% of its country's oil reserves has intensified its efforts to diversify its economy beyond hydrocarbons. It is doing this by using its sovereign wealth funds which manage collectively nearly $2 trillion, more than any other place in the world.

In recent years, the United Arab Emirates have become more attractive to high-net worth individuals and companies, due to their strong economic recovery following the pandemic, its tax-free environment and ease of doing businesses.

Kimmeridge, Fortress Investment Group and Abu Dhabi sovereign wealth fund Mubadala are among the key entrants in ADGM for the first half of this year. The latter signed a $1 billion deal with Mubadala back in May.

Lunate, a fund manager led by Sheikh Tahnoun bin Zayed (a royal family member and UAE national security advisor), acquired a minority stake in Brevan Howard in August. Brevan Howard is one of the world's first hedge funds to establish a global headquarters in ADGM, 2023. Sheikh Tahnoun is also the head of Abu Dhabi's biggest sovereign wealth fund ADIA.

ADGM reported that the number of companies based in the centre had increased to 2,972 by June 30 from 2,381 as of the end of the month of December. The results of the centre come after the neighboring Dubai International Financial Centre announced a 25% increase in active companies year-over-year, reaching 7,700 by the end the first half. (Reporting and editing by Rod Nickel.)

(source: Reuters)