Asset Management

Abu Dhabi finance hub’s assets surge more than 200% as firms rush to Middle East

Asset managers including PGIM and Nuveen have opened offices in Abu Dhabi, as the Middle East continues to attract attention from financial firms

Thursday 28 November 2024 at 08:31

Abu Dhabi Global Market has reported a surge in assets as firms continue to flock to the financial hub
Abu Dhabi Global Market has reported a surge in assets as firms continue to flock to the financial hub Photo: Photo: natalie naccache/Bloomberg via Getty Images

Abu Dhabi’s financial centre has more than tripled its assets under management over the past 12 months, with the increase following a string of financial services firms establishing a presence in the Middle East.

According to a 28 November update from Abu Dhabi Global Market — the emirate’s finance hub — total assets under management increased 215% year-on-year to the end of the third quarter.