Abu Dhabi financial centre signs up 160 firms in first year

Added 24th October 2016

The Abu Dhabi Global Market (ADGM), the new international financial centre in the capital of the UAE, said it has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations.

Abu Dhabi financial centre signs up 160 firms in first year

The ADGM said the group of “first-movers” was made up of financial, non-financial and retail businesses.

Financial firms registered in the centre include Macquarie Capital, part of Australia’s Macquarie Group, and the UAE-based investment fund Eshara Capital.  

The non-financial category included law firms, professional and corporate service providers and family offices. In other key sectors, real estate, investment and holding companies seeking to be close to the region’s businesses.

There was also a sizable group of retail and hospitality businesses catering to the needs of the financial free zone,

Numerous family businesses and individual companies have also set up in ADGM as it provides a supportive framework which allows them to manage family interests and safeguard their assets in the most efficient manner,” said Dhaher Bin Dhaher, chief executive of ADGM‘s Registration Authority in a statement issued at the end of last week.

“This achievement sets another new milestone in ADGM delivering on its ambition to support Abu Dhabi’s economic plan and long-term growth.

“The varied consortium of well-established local family businesses and international companies registered with ADGM is testament to the free zone’s commitment to being an open, trusted and well-regulated financial and commercial hub, designed to serve the financial needs of Abu Dhabi and the UAE,” he said.

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Richard Hubbard

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Richard Hubbard is the group editor at Last Word. He is responsible for the editorial content of International Adviser, Portfolio Adviser, Expert Investor and Fund Selector Asia. Richard previously worked for Thomson Reuters and has covered the financial services industry and investment themes from its offices in London, Singapore, Hong Kong and New York. Richard started his career at the Australian Financial Review in Sydney.

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