When the ruling Al Nahyan family of Abu Dhabi inaugurated the ADGM financial free zone in October 2015, the financial world initially reacted with skepticism. «What does a sheikhdom need a banking center for when it already controls over seven percent of the world’s oil reserves?» people asked at the time. And don’t the UAE already have an established financial hub with international reach — the Dubai International Financial Centre (DIFC), founded in 2004?

Critics Have Fallen Silent

But the Gulf emirates do not intend to rest on their «black gold.» Instead, they are preparing for the post-oil era. The ADGM serves as a catalyst to position Abu Dhabi as a magnet for financial services and innovation, as a training ground for young Emiratis, and as an investment destination for both domestic and international capital.

So far, the plan is working. At Thursday’s celebrations marking the tenth anniversary, Salem Al Darei, CEO of the ADGM Authority, was able to present solid figures and prominent brands. The ADGM, which operates under English common law, further strengthened its position in the first half of 2025 as the largest and fastest-growing financial center in the MENA region. With more than 11,000 active licenses and a 42 percent increase in assets under management (AUM), the center reported record figures and a significant expansion of its global reach.

Profitable days under Palm trees: the impressive architecture of the ADGM on Al Maryah Islands in Abu Dhabi. (Image: Gérard Al-Fil)

A Magnet For New Capital

The number of operational companies rose to nearly 3,000 — including 308 financial institutions and 2,664 non-financial firms. In total, 1,869 new licenses were issued — the largest increase within a six-month period since the center’s establishment.

Karim El-Solh, CEO of Gulf Capital, a leading private equity firm based in the ADGM, said during the anniversary celebrations that the ADGM had helped «transform Abu Dhabi from an exporter of capital into an importer of wealth.» Indeed, the number of fund managers in the ADGM has grown to 154, and the number of funds to 209. Major global players such as Kimmeridge, Fortress, Circle, Partners Group, Bitcoin Suisse, BlackRock, and Nuveen have expanded their presence in Abu Dhabi. Two luxury hotels located within the ADGM — the Four Seasons and the Rosewood — also ensure that business travelers can reach the lounges and meeting rooms of their host companies within minutes.

According to Shaikha Al Marzouqi, Director, Client Relationships and Management, ADGM, the geographical location of Abu Dhabi as a hub linking Asia and the West supports the financial center's growth story. (Image: Gérard Al-Fil)

Due to strong demand, the center — which already employs around 36,000 people — is expanding its real estate portfolio and creating additional office space for new companies. According to Al Darei, the fourth edition of the annual Abu Dhabi Finance Week (ADFW), taking place from December 8 to 11 2025, is also set to be significantly larger than last year’s event. Among the several hundred speakers and panel participants are UBS CEO Sergio Ermotti, Allianz CEO Oliver Bäte, Bitcoin Suisse Group CEO Andrej Macjen, and Richard Teng, CEO of the cryptocurrency exchange Binance. Teng served as CEO of ADGM from 2015 to 2021, having moved to Abu Dhabi from the Singapore Exchange (SGX).

Abu Dhabi, which promotes itself with the bold slogan «The Capital of Capital,» aims in its second decade to grow into a global financial center on par with Shanghai, Hong Kong, Zurich, New York, and London.