ADGM is region’s largest IFC as AUM surge

ADGM cemented its position as the region’s largest international financial center in 1H 2025, with total active licenses climbing to 11.1k, according to a press release (pdf). The center issued 1.9k new licenses in the period — the highest six-month tally since its inception — marking a 47% y-o-y increase.

Business activity expanded sharply: The number of operational entities rose 42% y-o-y to 3.0k, comprising 308 financial and 2.7k non-financial firms. The Financial Services Regulatory Authority (FSRA) also granted 52 in-principle approvals, up 27% from a year earlier, and 45 new financial services permissions, up 45%.

REMEMBER- ADGM expanded to Al Reem Island in 1Q 2025, adding 500k sqm of premium office inventory to the market, and significantly driving business activity.

Asset management continued its rapid growth, with assets under management (AUM) surging 42% y-o-y. By June, ADGM hosted 209 funds and 154 fund and asset managers — with the center’s momentum demonstrated by US-based Nuveen’s target to double the USD 3-5 bn it currently manages out of ADGM — since joining in 2024 — within three years.

1H also saw moves from major institutions:

• US-based alternative asset manager Fortress Investment Group opened an ADGM office and launched a USD 1 bn global credit and real estate partnership with Mubadala;
• Energy-focused PE firm Kimmeridge Energy Management also opened regional bases in ADGM and signed an MoU with Mubadala Energy to co-develop LNG ventures;
• IHC, BlackRock, and Lunate launched an ADGM-based AI-driven reins. platform with ambitions to manage USD 10 bn in liabilities.

ADGM also led market capitalization: By the end of June, entities registered in the center and listed on the ADX had a combined value exceeding AED 500 bn, making it the largest international financial center in the region by listed market cap.

ADGM expanded its workforce on Al Maryah and Al Reem islands to nearly 36.0k professionals, with Al Maryah alone seeing a 17% uptick to surpass 29k professionals. The financial center also widened its global footprint through roadshows in London, China, and Japan.

Regulatory cooperation continued apace, with new MoUs signed with counterparts in Hong Kong, Sweden, Azerbaijan, and Bhutan for cross-border collaboration, along with updated rules on sanctions compliance and cybersecurity. FSRA also issued amendments to its digital assets framework in 1H, introducing stricter criteria as well as new capital requirements and licensing conditions for firms.