ADGM grows fastest in MENA with 245% rise in assets under management

Post by: Pratik Kumar

Photo : Abu Dhabi Media Office

Abu Dhabi Global Market (ADGM) grew very fast in 2024, making Abu Dhabi stronger in the world of finance. The total money managed in ADGM increased by 245 per cent, which was much higher than the 35 per cent growth in the previous year. This big success happened because of better rules, the addition of Al Reem Island, and many top financial companies choosing ADGM.

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His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM, said that Abu Dhabi is becoming a big name in finance because it is safe, strong, and full of new ideas. He said ADGM will keep helping businesses grow and making it easier for people to invest their money.

In 2024, ADGM welcomed 79 new financial companies, making the total 275. Some of the world’s biggest companies, like BlackRock, Morgan Stanley, and AXA IM, set up offices in ADGM. After adding Al Reem Island in 2023, ADGM fully completed this move by 2024. Now, 1,100 companies are working under its rules. To help businesses adjust, ADGM gave fee discounts and changed licensing costs. It also signed a deal with the Department of Municipalities and Transport (DMT) to make real estate services easier.

ADGM is the fastest-growing financial centre in the MENA region. The number of businesses there increased by 32 per cent, reaching 2,381 in total. More people are also working in ADGM, with a 39 per cent increase in employees. ADGM’s small business loan platform, Numou, grew in 2024 and partnered with big names like the Khalifa Fund and other private lenders.

ADGM’s Financial Services Regulatory Authority (FSRA) made sure financial rules remained strong. It introduced new rules for stablecoins (digital money tied to real money), updated green finance guidelines, and improved IT security. It also changed some banking rules and launched a whistleblowing system to report any wrongdoing.

ADGM’s real estate team worked hard to organize Al Reem Island’s move. They made new rules for property sales before buildings are completed and created AccessRP, a digital system for easy property registration and transactions.

ADGM also focused on green finance. It introduced new rules for ESG (Environmental, Social, and Governance) funds. Many top investment firms, like BlackRock and General Atlantic, set up offices in ADGM. The FSRA also approved Vortex Energy IV, a green investment fund worth US$1.8 billion.

The Abu Dhabi Sustainable Finance Declaration grew, with 44 new companies signing up in 2024, bringing the total to 160. Many rich families and business leaders also set up their offices in ADGM. Billionaire Leon Black opened his family office there, along with other wealthy figures from the UK and Singapore.

ADGM expanded its global reach, hosting meetings with investors in major cities like New York, London, Paris, Singapore, and Hong Kong. It held over 300 business talks to promote Abu Dhabi’s financial growth.

ADGM Academy (ADGMA) also grew a lot in 2024. It doubled its space and added more courses in finance, business, and leadership. It trained over 2,000 UAE Nationals and published 11 research papers on AI, fintech, and cybersecurity. ADGMA also partnered with global universities and organizations to offer high-quality education and certifications.

ADGM’s biggest finance event, Abu Dhabi Finance Week (ADFW), attracted over 20,000 people from 172 countries. Top financial firms managing US$42.5 trillion attended. The event had 50+ sessions with 600 experts sharing insights on global finance.

For 2025, ADGM launched a new brand called "Path to Forward" to show its commitment to future finance. ADGM plans to keep growing, attract more financial companies, and improve its business environment. It is working to make Abu Dhabi the top choice for finance and investment in the world.

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