ADGM Achieves Remarkable Growth and Reaffirms Commitment to Sustainable Finance
ADGM’s Unprecedented Growth in 2024
Abu Dhabi Global Market (ADGM) saw a remarkable 245% growth in assets under management (AUM) in 2024. This surge reflects ADGM’s vital role in the UAE capital’s growing financial sector. Its expansion to Al Reem Island further bolstered Abu Dhabi’s status as a leading financial hub.
ADGM’s Role in Abu Dhabi’s Economic Growth
Chairman Ahmed Jasim Al Zaabi praised ADGM’s role in advancing Abu Dhabi’s “Falcon Economy.” He noted ADGM’s support in positioning the city as a global investment and innovation leader. In 2024, ADGM’s AUM grew significantly, with 134 asset managers now overseeing 166 funds, marking a strong financial year.
ADGM Attracts Global Investment and Expands Operations
In 2024, AD global market welcomed 79 new firms, including global players like BlackRock, PGIM, and Morgan Stanley. The number of financial institutions in AD global market grew to 275. Its expansion to Al Reem Island brought 1,100 businesses, further enhancing ADGM’s standing as a premier financial center.
ADGM Introduces Incentives for Business Expansion
AD global market provided fee exemptions for non-financial and retail businesses on Al Reem Island, valid until December 2024. The number of operational entities in AD global market grew by 32%, reaching 2,381, with workforce numbers rising by 39%. These developments reflect ADGM’s thriving financial ecosystem.
ADGM Strengthens Support for SMEs and New Regulatory Frameworks
ADGM’s Numou platform expanded its partner network, boosting SME lending. The Financial Services Regulatory Authority (FSRA) introduced key frameworks in 2024, including for stablecoins, ESG Greenwashing, and IT Risk Management. AD global market also launched a whistleblowing framework, promoting transparency.
ADGM’s Commitment to Sustainable Finance
ADGM introduced a Sustainable Finance Regulatory Framework to reinforce its focus on sustainability. Major asset managers such as BlackRock and TPG chose AD global market for their sustainable investment operations. ADGM also granted Green Fund Designation to Vortex Energy IV, a US$1.8 billion firm.
ADGM Expands Global Presence and Supports Local Talent
ADGM further strengthened its global reach with roadshows in financial hubs like New York and Hong Kong. ADGM Academy expanded its training offerings, placing over 2,000 UAE Nationals in key financial roles.