Abu Dhabi Global Market sees explosive growth with a 32% rise in firm registrations and soaring assets under management, as major global finance and crypto firms pour into the UAE capital.
Financial Firms Flock to Abu Dhabi as Capital Diversifies Beyond Oil
Abu Dhabi’s ambitious push to establish itself as a global financial powerhouse is gathering pace, with top officials forecasting continued rapid growth for the emirate’s premier financial centre, Abu Dhabi Global Market (ADGM).
The oil-rich capital of the United Arab Emirates, which holds 90% of the nation’s petroleum reserves, has long relied on its sovereign wealth—but is now fast-tracking efforts to diversify. Home to nearly $2 trillion in sovereign capital, Abu Dhabi is luring global financial institutions seeking a foothold in the Middle East’s booming economy.
Surge in Registrations, Soaring Assets Under Management
ADGM reported a 32% year-on-year increase in registered firms in 2024, while assets under management by firms based there surged an astonishing 245%. Major financial players including BlackRock, Morgan Stanley, AXA, PGIM, and hedge fund Marshall Wace have all either established operations or registered funds in the centre.
US-based real estate investment specialist Harrison Street, which manages $56 billion in assets, became the latest to announce an Abu Dhabi office on Tuesday, underscoring the city’s appeal to firms focused on alternative investments.
The momentum continued into 2025. According to ADGM, the first quarter alone saw a 67% jump in new operating licenses, bringing the total number of firms registered in the centre to over 2,380.
“We still have very strong growth,” said Arvind Ramamurthy, ADGM’s Chief Market Development Officer, in an interview on Monday. “The pipeline of new firms looks strong for the rest of the year,” he added, though he declined to forecast whether assets would again grow by 245%. “Will it be 245 percent again this year? I wish. Let’s see,” he remarked.
Abu Dhabi Welcomes Crypto and AI Firms
ADGM is also attracting increasing interest from non-traditional sectors. Ramamurthy noted a surge in activity from firms based in Japan, India, and China, including asset managers, financial institutions, and companies in emerging sectors such as cryptocurrency and artificial intelligence.
Thanks to comprehensive cryptocurrency regulations enacted in 2018, Abu Dhabi has carved out a leading role in the digital asset space. Global crypto players such as Circle and Coinbase maintain a presence in the emirate, while local investment powerhouse MGX has invested $2 billion in crypto tokens issued by US President Donald Trump’s World Liberty Financial venture—tokens now listed on Binance, the world’s largest cryptocurrency exchange.
Future Outlook: Strong Momentum, Global Aspirations
While ADGM still trails behind Dubai’s financial hub in scale, the acceleration in registrations and global institutional interest suggests a shifting dynamic. With robust regulatory frameworks, deep capital reserves, and strategic geopolitical positioning, Abu Dhabi appears set to further strengthen its standing as a global financial centre in the years ahead.
