Latest news with #AlReemIsland
Khaleej Times
9 hours ago
- Business
- Khaleej Times
ADGM posts stellar Q1 with 33% surge in assets under management
Abu Dhabi Global Market (ADGM), the UAE capital's international financial centre, kicked off 2025 with an impressive first quarter, reinforcing its position as a global powerhouse for finance and innovation. With a 33 per cent surge in assets under management (AUM), 119 fund and asset managers now oversee 184 funds, a significant leap from last year. The number of operational entities soared by 43 per cent to 2,781, while financial services firms grew by 26 per cent to 367. New licences issued jumped 67 per cent compared to Q1 2024, highlighting ADGM's growing appeal to global businesses. This growth reflects Abu Dhabi's status as a trusted destination for investors, driven by ADGM's transparent regulatory framework, which directly applies English common law — a rarity in the region. This legal clarity, combined with strategic initiatives, has attracted top-tier firms like Skadden, Investindustrial, and Polen Capital to set up shop. The expansion to Al Reem Island has been a game-changer, with over 600 new businesses established and 500 existing companies transitioning to ADGM licences, bringing the total to 1,100 new entities. A revised fee structure, slashing commercial licence costs by 50 per cent to a flat Dh1,000, has made it easier for small and medium enterprises (SMEs) to thrive. ADGM's workforce on Al Maryah Island grew by 17 per cent to over 29,000, with 3,509 new work permits issued for Al Reem Island businesses. New Employment Regulations introduced in Q1 enhance workplace protections while maintaining business flexibility, solidifying ADGM's appeal as a talent hub. The ADGM Academy furthered this by creating 800 job opportunities for UAE nationals across nine specialized tracks, supported by 23 global certifications. Strategic partnerships with Arab Youth and the Federal Tax Authority are empowering young talent and aligning with national goals. Globally, ADGM's outreach has strengthened its role as a financial bridge. In January, a delegation engaged hedge funds and private equity leaders at iConnections Global Alts Miami, highlighting Abu Dhabi's access to sovereign wealth capital. In February, ADGM joined a high-level mission to China, fostering ties as UAE-China trade is projected to boom. In April, meetings with Japanese financial institutions focused on wealth management and family businesses, signaling ADGM's growing influence in Asia. Innovation is at ADGM's core. A new mobile app launched in Q1 offers real-time regulatory updates, compliance tools, and networking features, while a digital platform for real estate transactions enables fully virtual processes—a first in the region. ADGM's focus on blockchain is evident through a partnership with Chainlink to develop compliant tokenisation frameworks and the integration of firms like Stacks Asia into its Distributed Ledger Technology framework, positioning Abu Dhabi as a blockchain hub. Sustainable finance is another priority, with the Abu Dhabi Sustainable Finance Declaration gaining 170 signatories, including Aquila Capital and PwC, promoting environmental, social, and governance (ESG) principles. The ADGM Research Centre's six papers on AI's role in finance underscore its commitment to cutting-edge technology. Ahmed Jasim Al Zaabi, ADGM chairman, said, 'ADGM's Q1 2025 performance reflects the trust global institutions place in us, boosting Abu Dhabi's status as a financial and innovation hub. As the world's safest and most dynamic jurisdiction for asset management, we're driving sustainable growth and digital transformation.'
Zawya
13 hours ago
- Business
- Zawya
ADGM reports strong Q1 performance
ADGM, the international financial centre of the UAE capital, has accomplished another quarter of robust growth and increased global recognition, sustaining momentum from a record-breaking 2024. In Q1 2025, ADGM achieved significant growth across key metrics, supported by ongoing global investor confidence, regulatory enhancements, and the successful implementation of major initiatives within its expanded jurisdiction on Al Reem Island. Commenting on ADGM's growth momentum, Ahmed Jasim Al Zaabi, Chairman of ADGM, said, "ADGM's Q1 2025 performance marks the beginning of another landmark year. This is not just a reflection of ADGM's capabilities to deliver sustained growth, but also the trust it has gained among global and regional institutions, boosting Abu Dhabi's status as a global financial and innovation hub. 'As the world's safest and most dynamic jurisdiction for asset and wealth management, ADGM continues to expand and diversify with purpose, welcoming leading firms, deepening international partnerships, and driving digital and sustainable transformation across sectors. ADGM remains committed to contributing towards capital formation and innovation in alignment with the UAE's long-term economic vision.' The asset management sector was a key indicator of ADGM's growth last year. During Q1 2025, assets under management (AUM) grew 33 percent compared to Q1 2024. At the end of Q1 2025, 119 asset and fund managers managed a total of 184 funds out of ADGM. As of Q1 2025, the total number of operational entities in ADGM increased 43 percent to 2,781, from the same period a year earlier, while the number of financial services entities increased to 367, indicating a 26 percent growth from Q1 2024. ADGM continued to attract a diverse set of global firms seeking to tap Abu Dhabi's unique financial and regulatory infrastructure. The number of new licences grew in Q1 2025, representing an increase of 67 percent from Q1 2024. Notable firms establishing a presence during this period include Skadden, Investindustrial, NewVest, Arcapita, Polen Capital, Seviora, Olive Gaea, TON, and Aquila Group. One of ADGM's strategic focuses under the 'Capital of Capital' concept has been human capital. Efforts towards this have resulted in the workforce on Al Maryah Island surging to over 29,000 individuals, a 17 percent growth compared to the same quarter last year. Furthermore, a total of 3,509 new ADGM work permits have been issued to businesses establishing on Al Reem Island. In line with its focus on human capital, ADGM also introduced new Employment Regulations, aimed at enhancing workplace protections while preserving business agility. The updated regulations strengthen ADGM's appeal as a global talent hub and reinforce its position as a forward-looking jurisdiction committed to inclusive, sustainable economic growth. During Q1 2025, ADGM completed its jurisdictional expansion to Al Reem Island, which delivered strong results. By Q1 2025, over 600 new businesses had set up on Al Reem Island, and more than 500 existing Al Reem-based companies had migrated to an ADGM licence. Currently, a total of 1,100 new entities operate within ADGM's expanded jurisdiction. In January, ADGM introduced a revised fee schedule, reducing commercial licence costs by 50 percent or more for non-financial and retail businesses, further supporting SME growth and diversification. The new structure simplifies the previous tiered model and sets a flat licence fee of AED1,000, making it significantly more accessible for entrepreneurs and SMEs to establish and scale their operations within ADGM's jurisdiction. In March, ADGM signed an MoU with Chainlink, the industry standard for onchain finance. The partnership will enable the development of compliant tokenisation frameworks by leveraging Chainlink's infrastructure and expertise. Additionally, ADGM welcomed Stacks Asia and Bitgrit to its ecosystem in Q1 2025, which will leverage ADGM's world-leading Distributed Ledger Technology (DLT) Foundations framework. ADGM officially launched its all-in-one mobile application to enhance the digital experience for businesses, employees, and residents in Q1 2025. It also introduced a groundbreaking digital platform for real estate transactions, enabling fully virtual sell-and-purchase workflows involving buyers, sellers, and financial institutions—a regional first that reflects ADGM's commitment to tech-driven transformation. During Q1 2025, ADGM Academy successfully created 800 job placement opportunities for UAE nationals across nine specialised tracks. These efforts were supported by 23 internationally recognised upskilling and reskilling certifications. ADGM Academy signed two strategic agreements, including one with Arab Youth to collaborate on empowering Arab youth and driving innovation in the technology sector. The Academy also partnered with the Federal Tax Authority to deliver targeted training programmes aligned with the national agenda. Additionally, during Q1 2025, the ADGMA Research Centre published six research papers, with a focus on the growing impact of AI in the UAE financial sector.
Economy ME
15 hours ago
- Business
- Economy ME
ADGM reports 33 percent AUM growth in Q1 2025 highlighting strong market confidence
ADGM has achieved another quarter of strong growth and heightened global recognition, maintaining momentum from a record-breaking 2024. In Q1 2025, ADGM saw significant growth across key metrics, driven by ongoing global investor confidence, regulatory enhancements, and the successful implementation of major initiatives within its expanded jurisdiction on Al Reem Island. ADGM's focus and strategic initiatives to strengthen its standing as a leading international financial centre reaffirmed Abu Dhabi's position as a global financial powerhouse and a preferred destination for regional and international entities. His Excellency Ahmed Jasim Al Zaabi, chairman of ADGM, stated: 'ADGM's Q1 2025 performance marks the beginning of another landmark year. This is not just a reflection of ADGM's capabilities to deliver sustained growth, but also the trust it has gained among global and regional institutions, boosting Abu Dhabi's status as a global financial and innovation hub. As the world's safest and most dynamic jurisdiction for asset and wealth management, ADGM continues to expand and diversify with purpose, welcoming leading firms, deepening international partnerships, and driving digital and sustainable transformation across sectors. ADGM remains committed to contributing towards capital formation and innovation in alignment with the UAE's long-term economic vision.' Asset management sector notable growth Looking ahead, ADGM expects continued growth in the market, supported by increasing interest from international firms across Europe and Asia. ADGM anticipates further strong growth as it boosts its position within these dynamic financial markets. The asset management sector was a key indicator of ADGM's growth last year. During Q1 2025, assets under management (AUM) grew by 33 percent compared to Q1 2024. At the end of Q1 2025, 119 asset and fund managers were managing a total of 184 funds from ADGM. As the only jurisdiction in the region to adopt the direct application of English common law, ADGM's transparency, stability, legal certainty, and familiarity with its established regulatory framework have been crucial drivers for the growing number of global and regional entities setting up operations. As of Q1 2025, the total number of operational entities in ADGM increased by 43 percent to 2,781, compared to the same period a year earlier, while the number of financial services entities rose to 367, indicating a 26 percent growth from Q1 2024. ADGM continued to attract a diverse array of global firms seeking to leverage Abu Dhabi's financial and regulatory infrastructure. The number of new licenses issued grew in Q1 2025, representing an increase of 67 percent from Q1 2024. Notable firms establishing a presence during this period include Skadden, Investindustrial, NewVest, Arcapita, Polen Capital, Seviora, Olive Gaea, TON, and Aquila Group. These firms span a range of sectors and position ADGM as the preferred premier international hub for asset management, sustainable finance, legal services, and digital innovation. Focus on human capital drives workforce growth One of ADGM's strategic focuses under the Capital of Capital concept has been human capital. This focus has led to the workforce on Al Maryah Island surging to more than 29,000 individuals, marking a 17 percent growth compared to the same quarter last year. A total of 3,509 new ADGM work permits have been issued to businesses establishing on Al Reem Island, indicating continued expansion across the two islands. In line with the human capital focus, ADGM also introduced its new Employment Regulations, aimed at enhancing workplace protections while maintaining business agility. The updated regulations strengthen ADGM's appeal as a global talent hub and reinforce its position as a forward-looking jurisdiction committed to inclusive, sustainable economic growth. ADGM's international engagement efforts remained robust throughout Q1 2025, further underscoring its role as a global bridge for the growth of Abu Dhabi's financial sector. In January, ADGM returned to iConnections Global Alts Miami to deepen relationships with hedge funds, private equity firms, and venture capital leaders. The ADGM delegation held bilateral meetings in New York and Washington, participating in a headline panel discussion titled, Abu Dhabi: The Capital of Capital, showcasing the emirate's strategic access to $1.7 trillion in sovereign wealth capital and its investor-friendly ecosystem. In February, ADGM joined the Abu Dhabi Department of Economic Development's (ADDED) high-level delegation to China, aimed at fortifying bilateral economic ties between the two countries. With UAE-China trade projected to reach $200 billion by 2030, ADGM is strengthening Abu Dhabi's role as a vital gateway for Chinese capital into the region. Read more: ADGM attracts over 10,000 global participants to its second Virtual Career Fair featuring 40 leading businesses Expansion to Al Reem Island yields strong results Moreover, at the start of April 2025, a high-level delegation from ADGM traveled to Japan, where they conducted nearly 30 strategic bilateral meetings with leading financial institutions. The discussions focused on key sectors, including private banking, wealth management, and family businesses, reflecting Japanese companies' commitment to fostering international partnerships and expanding their presence in the region. During Q1 2025, ADGM completed its jurisdictional expansion to Al Reem Island, yielding strong results. By Q1 2025, more than 600 new businesses had established operations on Al Reem Island, and over 500 existing Al Reem-based companies had migrated to an ADGM license. Currently, a total of 1,100 new entities operate within ADGM's expanded jurisdiction. In January, ADGM introduced a revised fee schedule, reducing commercial license costs by 50 percent or more for non-financial and retail businesses, further supporting SME growth and diversification. The new structure simplifies the previous tiered model and sets a flat license fee of AED1,000, making it significantly more accessible for entrepreneurs and SMEs to establish and scale their operations within ADGM's jurisdiction. Reinforcing its position as a regulatory pioneer in digital assets, ADGM in March 2025 signed an MoU with Chainlink, the industry standard for on-chain finance. The partnership will facilitate the development of compliant tokenization frameworks by leveraging Chainlink's infrastructure and expertise. ADGM welcomed Stacks Asia and Bitgrit to its ecosystem in Q1 2025, which will utilize ADGM's world-leading Distributed Ledger Technology (DLT) Foundations framework. These efforts are enhancing Abu Dhabi's profile as a rising blockchain innovation hub on both regional and global stages. 800 jobs created for UAE nationals The Abu Dhabi Sustainable Finance Declaration now has 170 signatories, including banks, asset managers, investment funds, and small and medium-sized enterprises (SMEs). Launched in 2019 under the patronage of national financial regulators and ministries, the initiative continues to promote the integration of ESG principles into the financial sector and attract green investment to the region. Recent signatories include Aquila Capital, Century Financial, Oryx Global Partners, PricewaterhouseCoopers (PwC), and Olive Gaea. ADGM officially launched its all-in-one mobile application to enhance the digital experience for businesses, employees, and residents in Q1 2025. The app provides real-time regulatory updates, compliance tools, license renewals, and exclusive networking features. It also introduced a groundbreaking digital platform for real estate transactions, enabling fully virtual sell-and-purchase workflows involving buyers, sellers, and financial institutions—a regional first that reflects ADGM's commitment to tech-driven transformation. During Q1 2025, ADGM Academy successfully created 800 job placement opportunities for UAE Nationals across nine specialized tracks. These efforts were supported by 23 internationally recognized upskilling and reskilling certifications. ADGM Academy signed two strategic agreements, including one with Arab Youth to collaborate on empowering Arab youth and driving innovation in the technology sector. The Academy also partnered with the Federal Tax Authority to deliver targeted training programs aligned with the national agenda. During Q1 2025, the ADGM Research Centre published six research papers, focusing on the growing impact of AI in the UAE financial sector. These publications highlight AI's central role in advancing the sector's development and innovation.
Trade Arabia
22-05-2025
- Business
- Trade Arabia
Modon launches freehold residential towers on Reem Island
Modon, the Abu Dhabi-based holding company, has announced the launch of Muheira - a landmark residential community offering exclusive freehold apartments on Al Reem Island. Situated close to Abu Dhabi Global Market (ADGM), Muheira features two residential towers, boasting a collection of 475 one- to three-bedroom apartments. The homes will offer residents convenient access to Reem Island's outdoor recreational areas, sports amenities, modern healthcare facilities, top-tier educational institutions, and a range of retail outlets, said the developer. Group CEO Bill O'Regan said the project launch is aligned with Modon's vision to develop vibrant, future-ready communities that embody the highest standards of living. "We are committed to adding sustainable value, creating destinations that enhance residents' overall well-being and lifestyle," he stated. Modon Real Estate CEO Ibrahim Al Maghribi said: "Muheira is a central part of our strategy to cultivate exceptional urban communities that meet the evolving expectations of both residents and investors."
Zawya
22-05-2025
- Business
- Zawya
Modon unveils 'Muheira' first Modon freehold residential towers on Reem Island
ABU DHABI - Modon, the Abu Dhabi-based holding company, has announced the launch of Muheira – a landmark residential community offering exclusive freehold apartments on Al Reem Island. Situated close to Abu Dhabi Global Market (ADGM), Muheira features two residential towers, boasting a collection of 475 one- to three-bedroom apartments. The homes will offer residents convenient access to Reem Island's outdoor recreational areas, sports amenities, modern healthcare facilities, top-tier educational institutions, and a range of retail outlets. Bill O'Regan, Group CEO at Modon Holding, said, 'The launch of Muheira is aligned with our vision to develop vibrant, future-ready communities that embody the highest standards of living. We are committed to adding sustainable value, creating destinations that enhance residents' overall well-being and lifestyle.' Ibrahim Al Maghribi, CEO of Modon Real Estate, stated, 'Muheira is a central part of our strategy to cultivate exceptional urban communities that meet the evolving expectations of both residents and investors. Through meticulous planning and contemporary design, we have curated a living experience that reflects next-generation architecture and a full suite of modern lifestyle facilities.'
