Abu Dhabi Global Market recorded unprecedented levels of performance during the first half

Abu Dhabi on September 14

Abu Dhabi, the capital of the United Arab Emirates, continued to attract major international and regional companies to its international financial center, the Abu Dhabi Global Market, as the strong performance of the market during the first half of the year 2023 reflected significant growth at various levels, which establishes positive momentum for the remainder of the current year and confirms The market continues its role in strengthening Abu Dhabi’s position as a leading financial power, in line with the “Falcon Economy” model.
The latest data showed that many investment companies and hedge funds have established their businesses in the Abu Dhabi Global Market, bringing the number of asset managers working in the Abu Dhabi Global Market today to 102, managing 128 funds, which strengthens Abu Dhabi’s leading position in the asset management sector, while the volume of assets under management recorded growth. A record year-on-year increase of 35% at the end of June.
Among the most prominent additions to this sector is the announcement of amendments to the regulatory framework of the Financial Services Regulatory Authority in the market to enable collective investment funds existing in the Abu Dhabi Global Market to invest in credit, through establishing and participating in credit facilities. The amendments aim to improve access to alternative financing for private enterprises, especially within the small and medium enterprises sector.
The attractiveness of the Abu Dhabi Global Market as a comprehensive financial center, and being the only geographical scope in the region based on the direct application of the English Commons Law, also contributed to attracting and licensing many prominent international companies in the year 2023, and among these companies are “Brevan Howard”, “Ardian”, and Goldman Sachs, Tikehau Capital, Blackstone, SBI Capital, AIIB, Apollo, Fifth Wall, Federa and Vibrant Capital; While the International Financial Center also witnessed another major addition to its business environment in the first half of 2023, as the market welcomed the addition of well-known global investor Ray Dalio, who chose Abu Dhabi as the next strategic center to expand the global presence of his family office.
Abu Dhabi Global Market is also a preferred destination for major local and regional companies, such as ADQ Holdings, Chimera Capital, G42 Group, Gulf Capital, 1AM, and Investcorp.

His Excellency Ahmed Jassim Al Zaabi, Chairman of the Department of Economic Development in Abu Dhabi and Chairman of the Board of Directors of Abu Dhabi Global Market, said: What we are witnessing today in Abu Dhabi is a major transformation that supports the growth and diversification of the “falcon economy,” especially with many leading and influential companies on the global scene choosing Abu Dhabi as their business headquarters. We are proud of the positive results achieved by the market as part of its continued growth process by the end of the first half of 2023, which will undoubtedly enhance our position as the fastest growing international financial center in the region.

His Excellency stressed: Our continuing efforts are a reflection of the economic vision of the Emirate of Abu Dhabi, as well as the comprehensive strategy of the Abu Dhabi Global Market, which aims to enhance the financial sector’s contribution to the gross domestic product of the Emirate of Abu Dhabi and its contribution to the knowledge-based economy, expressing his aspiration for the continuation of these positive results this year, while We continue to work with our strategic partners from government agencies to ensure smooth expansion and keep pace with the increasing demand from companies wishing to make Abu Dhabi their headquarters.
The overall positive outlook for 2023 that the Abu Dhabi Global Market has demonstrated since the beginning of the year reflects its 2023-2027 growth strategy and its alignment with Abu Dhabi’s goals to support sustainable economic diversification efforts driven by the increasing growth of the financial sector.

More leading global and regional institutions in the financial field are scheduled to begin operating in the Abu Dhabi Global Market, with 46 companies obtaining initial approval during the first half of 2023, as this number represents an increase of 119% in the number of companies that obtained initial approvals. Compared to the same period last year.
Commenting on his company’s expansion in the region and the opening of its newest offices in the Abu Dhabi Global Market; Alan Howard, founder of Brevan Howard, said: Abu Dhabi and the Abu Dhabi Global Market are distinguished by their provision of an integrated business environment that supports the activities of the banking sector, financial technology and investment management. The Abu Dhabi Global Market, as a leading financial center, offers enormous and unparalleled capabilities, and we are pleased to contribute to strengthening the efforts of the Abu Dhabi government. To build and develop the future.

It is worth noting that Brevan Howard manages assets worth more than $30 billion on behalf of many institutions around the world.
Rajeev Misra, CEO of 1IM, said: Abu Dhabi has become a global platform that attracts investors, employers and employees alike. We are confident that obtaining a license to provide financial services in the Abu Dhabi Global Market will enable us to benefit from the diverse opportunities offered by the region, which will support the growth of our company and open the way for further development in the future.

The first half of 2023 witnessed the start of the Abu Dhabi Global Market’s Financial Services Regulatory Authority implementing the regulatory framework for sustainable finance, which includes the most comprehensive disclosure requirements for environmental, social and corporate governance practices in the region, and regulatory frameworks for funds and portfolios managed on a discretionary basis, and bonds and sukuk designed to support efforts. The UAE National Council to reduce emissions and achieve climate neutrality.

This regulatory framework is aligned with the carbon offsets system to create the world’s first regulated exchange and clearing house to trade carbon credits on the Abu Dhabi Global Market, in cooperation with the voluntary carbon market platform AirCarbon Exchange.
In March of this year; The Financial Services Regulatory Authority launched the Abu Dhabi Global Market in cooperation with members of the Sustainable Finance Working Group in the UAE