Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) of the UAE’s capital, has seen its third-quarter (Q3) assets under management (AUM) shoot up 52% and operational entities increase 35%.
Operational Entities within ADGM rose from 1,272 in Q3 2022 to 1,717 entities in Q3 2023.
The number of prominent institutions at ADGM continues to grow, with additional global and regional names establishing offices in ADGM including, but not limited to, Sagard – a global multi-strategy alternative asset management ﬁrm with more than $14.5 billion assets under management, Tikehau Capital, FTI Consulting and M2.
Fastest growing IFC
ADGM Square’s workforce increased by 26%, showcasing an increase in talented individuals choosing Abu Dhabi as their destination to live, work and thrive.
Commenting on ADGM’s continued strong growth, Ahmed Jasim Al Zaabi, Chairman of ADGM, said: “Our exceptional performance across the last three quarters reflects the effectiveness, and success of our transformational efforts, firmly establishing ADGM as the region's fastest-growing International Financial Centre.
“We will continue in our efforts to accelerate our momentum and further entrench ADGM's role as a key contributor to Abu Dhabi's economic vision and its ambitious economic diversification objectives.”
ADGM’s Growth Strategy 2023-2027 and its alignment to Abu Dhabi’s diversification goals, keeping the financial sector at the core of its strategies, has enabled it to become a catalyst that is accelerating Abu Dhabi’s overall economic development.--TradeArabia News Service