Abu Dhabi's financial centre posts 32% growth in company registrations in 2023


FILE PHOTO: A general view of the Abu Dhabi skyline is seen, December 15, 2009. REUTERS/Ahmed Jadallah

DUBAI: Abu Dhabi's financial centre, the Abu Dhabi Global Market (ADGM), said on Wednesday that the number of companies that set up base there grew 32% in 2023 from a year earlier, reaching a total of 1,825.

Assets under management rose by 35% as several investment firms and hedge funds established business in the financial centre, ADGM said in a statement, adding that a total of 102 asset managers managing 141 funds operated there as of the end of last year.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Abu Dhabi , finance

Next In Business News

Lagenda Properties unit completes RM475mil first Sukuk Wakalah issuance
Glomac swings to profit in 1QFY27
TS Wong ceases to be substantial shareholder of Cuscapi
Enproserve secures RM12mil facility management contract from Perbadanan Putrajaya
ETA Group appoints Kau Sin Yual as chairman
PETRONAS LNG portfolio positions Malaysia to capture Asia’s growing gas demand
Tan Chong, Saike explore EV battery pack localisation in Malaysia
Ringgit ends mostly higher against major currencies, but weakens vs US dollar
MBSB Bank provides RM29.6mil financing to Bisajuta for Sabah infrastructure projects
Reservoir Link secures PPA for 200MWac solar facility in Sarawak

Others Also Read