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Tuesday, May 30, 2023

ADGM’s growth makes Abu Dhabi’s fastest growing IFC in the region


ADGM has been instrumental in positioning Abu Dhabi as a leading financial centre.

Abu Dhabi Global Market (ADGM) has several notable achievements in 2022, becoming the fastest growing International Finance Corporation (IFC) in the region. ADGM has played an important role in positioning Abu Dhabi as a leading financial powerhouse and ‘Falconry Economy’ by leveraging its strengths and contributing to innovation, transformation and diversification across key industries.

In 2022, ADGM’s strategic drive across traditional and new age financial clusters creates opportunities for business development, local market adoption and talent acquisition. IFC improves its operating model, organizational structure, streamlines processes and improves systems to increase efficiency.

Key accomplishments in 2022: Assets under management are up 56% in 2022, while ADGM Square’s workforce is 10,954 talented compared to 8,522 in 2021, a 29% increase.

ADGM has also signed a total of 25 memorandums of understanding in 2022 to promote the center’s business-friendly environment, facilitating business, customer service and seamlessly integrated operations within the IFC.

ADGM has a total of 5,546 active licenses, including financial services firms and non-financial firms, compared to 4,262 firms reporting in 2021, indicating a 30% increase in total active licenses in 2022.

Operating entities within ADGM grew by 30 per cent, from 1,061 to 1,378 in total, with ADGM-registered companies Borouge, Burjeel Holdings, Bayanat AI and Americana Restaurants listing on the Abu Dhabi Securities Exchange (ADX) last year. American Restaurants gets a dual listing as it is also listed on the Saudi Stock Exchange. Anghami, with its global headquarters and R&D center in Abu Dhabi Global Market, will list on Nasdaq in 2022. With the launch of the Al Maryah Tower in 2022, the addition of 32,000 sqm of space reflects the continued occupancy growth of ADGM Plaza and demonstrates that the Center is a global anchor and financial institution at ADGM Attractive destinations that build impact. –

ADGM has positioned itself as the leading international financial center in the Middle East and Africa region and is globally recognized as the 32nd best international financial center according to the GFCI 32 report. –

The number of cases in ADGM courts increased significantly to 317 in 2022 compared to 139 in 2021, with more than 80% of these cases due to parties outside ADGM choosing the court to resolve their disputes.

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