Abu Dhabi Global Market (ADGM) says entities licensed in its financial centre currently hold more than $100 billion in investments focused on artificial intelligence. The largest contributor is Abu Dhabi tech vehicle MGX, which closed its first fund in July at $49 billion.
Growth in headcount and assets under management
The ADGM white-collar workforce grew by 34%, bringing total headcount to around 50,000. Assets under management (AUM) within the centre rose 54% year-on-year. This expansion has coincided with increased activity from international firms: Bain Capital, Blue Owl Capital, and Man Group are among those that have expanded in the financial centre so far this year.
Major expansion to meet office demand
To accommodate rising office demand, ADGM is undergoing a large-scale expansion compared in scope to New York City’s Hudson Yards. The project is being led by Aldar and Mubadala and carries a price tag of 60 billion dirhams (approximately $16.3 billion).
Why this matters
The concentration of AI-focused capital and the growing presence of global asset managers position Abu Dhabi as a regional hub for fintech and technology investment. The combination of large funds and substantial infrastructure investment is likely to make the market more attractive to additional fund managers and tech firms, potentially increasing competitiveness and capital inflows over the longer term.
(Compiled from reporting by Mohammed Sergie)
