Why are Dubai and Abu Dhabi investing so much?

They’ve been investing heavily at home and abroad, a major lure for foreign financial companies seeking new business. Both Abu Dhabi and Dubai are facing increasing competition from Saudi Arabia, which is spending hundreds of billions of dollars to diversify from oil and become a hub for finance, tourism and logistics.

Who are the big investors in Abu Dhabi?

Among them are Goldman Sachs Group Inc., Brevan Howard Asset Management and Ray Dalio’s family office. The boom is similar to that in Dubai, the UAE’s biggest city, which has seen a mass of financial, legal and crypto professionals move there in the past two years. Abu Dhabi has sovereign wealth funds with more than $1 trillion of assets.

Why is Abu Dhabi becoming an economic powerhouse?

Abu Dhabi is increasingly an “economic powerhouse and preferred destination for talents, businesses and investments,” according to Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Department of Economic Development.

How did Abu Dhabi's construction sector perform in the second quarter?

The value added by the construction sector stood over 19% year-on-year during the second quarter, with the industry accounting for nearly 9% of Abu Dhabi’s GDP Manufacturing activity grew 7%, contributing over 25% to non-oil GDP Wholesale and retail trade activities also expanding significantly