Abu Dhabi Global Market (ADGM) saw remarkable growth in 2024, with assets under management (AUM) soaring 245%, solidifying its position as a leading financial hub.
The expansion to Al Reem Island was completed, reinforcing Abu Dhabi’s status as the ‘Capital of Capital.’ ADGM Chairman Ahmed Jasim Al Zaabi stated, “Abu Dhabi leads global finance with stability, ambition, and economic growth, with ADGM playing a key role in this transformation.”
AUM surged from 35% in 2023 to 245% in 2024, with 134 asset and fund managers overseeing 166 funds. The number of financial institutions reached 275, with 79 new firms, including BlackRock, PGIM, and Morgan Stanley.
ADGM introduced fee exemptions for non-financial and retail entities until 31st December 2024. Operational firms increased to 2,381, with a 32% rise year-on-year, while workforce numbers grew 39%.
Numou, ADGM’s SME lending platform, expanded its partnerships, collaborating with Khalifa Fund and private credit providers such as Credible-X and NymCard.
The Financial Services Regulatory Authority (FSRA) introduced frameworks for stablecoins, ESG Greenwashing, IT Risk Management, and Basel-aligned Prudential Rules, along with a new whistleblowing framework. The Registration Authority (RA) enhanced property regulations, introduced off-plan development rules, and launched AccessRP, a digital real estate transaction platform.
ADGM strengthened sustainable finance, introducing a discussion paper on a regulatory framework. Leading asset managers—including BlackRock, PGIM, and AXA IM—established operations. The FSRA also granted Green Fund Designation to Vortex Energy IV, a US$1.8B AUM firm.
More family offices and billionaires, including Leon Black’s Elysium Management, Asif Aziz, and Kishin RK, set up in ADGM. Roadshows in major financial hubs led to over 300 investor discussions.
ADGM Academy expanded, doubling in size and training 2,000 UAE Nationals. Its research centre published 11 reports on AI, fintech, and cybersecurity, securing eight global accreditations and 25 MoUs with institutions such as MIT and the UAE Federal Tax Authority.
