Page 120 - KHALIFA FUND PR REPORT FEBRUARY 2025

3/4/25, 11:27 AM ADGM’s AUM Jumps 245% in 2024, Entity Count Up 32% as Expansion Accelerates - Fintechnews Middle East
Abu Dhabi Global Market (ADGM), the international financial centre (IFC) of Abu
Dhabi, saw significant expansion in 2024, with assets under management (AUM)
increasing by 245%.
This growth coincided with the completion of ADGM’s jurisdictional expansion to Al
Reem Island.
Ahmed Jasim Al Zaabi, Chairman of ADGM, stated:

“The unprecedented expansion and growth we
have achieved is a reflection of Abu Dhabi as the
‘Capital of Capital’ – a hub where capital, ideas,

and innovation converge.”

Asset Management Growth

Ahmed Jasim Al Zaabi
ADGM’s AUM rose 245% in 2024, compared with a 35%
increase in 2023. It now hosts 134 asset and fund managers overseeing 166 funds.
The centre also recorded an influx of global firms, with 79 new financial institutions

licensed in 2024, bringing the total to 275.
Major firms that established operations in ADGM last year include BlackRock,
Morgan Stanley, PGIM, Nuveen, General Atlantic, Lone Star Funds, Investindustrial,
and AXA IM.

Business Expansion and Workforce Growth

Following its jurisdictional expansion to Al Reem Island, ADGM integrated 1,100
new businesses in 2024.
To facilitate this transition, non-financial and retail businesses on Al Reem Island
were exempt from commercial licensing fees until the end of the year.
By year-end, ADGM had 2,381 operational entities, marking a 32% annual increase.

Its workforce grew by 39%, reflecting rising investor interest.
Numou, ADGM’s SME lending platform launched in 2023, expanded its network in
2024, partnering with the Khalifa Fund for Enterprise Development and private
credit providers such as Credible-X and Klubworks.

Regulatory Developments

ADGM’s Financial Services Regulatory Authority (FSRA) introduced new frameworks

for stablecoins, ESG greenwashing, and IT risk management.
Updates were also made to Prudential Rules, aligning with Basel Committee
recommendations. A whistleblowing framework and reporting portal were also
introduced.
On real estate, ADGM’s Registration Authority implemented new regulations for
off-plan developments and launched AccessRP, a digital platform for property

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