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ABU DHABI/AD MEDIA OFFICE
Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO) have organised the fourth edition of Al Multaqa quarterly meetings. The meeting provided the business community with recent updates on the emirate’s economy, highlighting potential investment opportunities and accelerating economic growth.
Beyond traditional wealth management, family offices are emerging as investors in infrastructure projects and innovative technologies, collaborating with the public sector in driving economic growth and sustainability. Balancing both global partnerships and local investments, family offices are working alongside the public sector to shape not only the emirate’s economy, but also the future of its key industries.
The significance of these multisectoral partnerships was a central topic during the fourth Al Multaqa meeting, where Abu Dhabi business leaders, family office representatives, and government officials gathered to explore recent economic developments and investment opportunities in the emirate.
At the meeting, His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, underscored the emirate’s upward economic trajectory, noting that the issuance of economic licences in Abu Dhabi increased by 196 per cent in a decade.
His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, said: “Abu Dhabi continues to position itself as a premier hub for talents, investments, and businesses. Driven by the vision of our wise leadership and powered by Falcon Economy initiatives, the emirate is accelerating its transition to an innovative, diversified, and sustainable economy. The significant growth and robustness of the economy reflects our dedication to transforming Abu Dhabi into a global economic powerhouse. By fostering innovation, attracting quality investments, supporting manufacturers, and developing local supply and value chains, we are enhancing our thriving ecosystem to provide businesses opportunities for growth, diversification, and sustainability.”
The session also reviewed progress in the local manufacturing sector under the Abu Dhabi Industrial Strategy (ADIS), launched on June 30, 2022. Since its introduction, ADIS has contributed positively to the industrial GDP, which rose from AED83 billion in 2022 to AED101 billion by the end of 2023.
The emirate witnessed an increase in new industrial Rowad licences under the strategy, which rose by more than 40 per cent from July 2023 to June 2024 – the second year after the launch of ADIS compared to first year. Total investments of these licences nearly tripled during the same period to AED10.8 billion.
Government tenders worth AED21 billion were also awarded to companies with local content certificates as of March 2024, an increase of 33 per cent compared to the first year of ADIS’ launch. Local content certificates are awarded to companies that contribute value to the local economy. The Abu Dhabi Local Content Programme aims to boost the contribution of non-oil sectors to the emirate’s total GDP, advance the knowledge economy, enhance technology adoption, and improve Emiratisation rates while prioritising local production and supply chains.
His Excellency Al Zaabi said: “ADIS’ achievements over the past two years are a testament to our unwavering commitment to cement Abu Dhabi position as the region’s most competitive industrial hub and play a major role in shaping tomorrow’s manufacturing.”
The meeting also featured a presentation by His Excellency Brigadier Salem Abdullah bin Barrak Al Dhaheri, Acting Director General of Abu Dhabi Civil Defence, on the importance of fire prevention and safety compliance in protecting lives and assets. Family offices in Abu Dhabi are heavily invested in real estate, construction, and other high-value sectors, making adherence to stringent fire safety regulations and evacuation procedures essential for safeguarding investments and ensuring business continuity.
The ADIO team presented a range of investment and partnership opportunities available to the local business community. As of 2024, ADIO has successfully attracted over 165 investors across sectors such as financial services, energy, and technology. The office has also signed 27 deals focused on clean energy, advanced technology, and the Smart and Autonomous Vehicles Industry (SAVI) cluster, showcasing the vibrant opportunities within the investment landscape.
Participants were also given insights into the Musataha Programme, which offers investment opportunities for private sector developers on government-owned land, effectively leveraging the emirate’s public land assets for projects with socioeconomic benefits.
Leading investors signed a number of Musataha agreements during the event, paving the way for the development of two new commercial facilities and one new industrial facility in the emirate.
The first of the commercial agreements includes the development, design, construction and operations of a Community Market in Al Nahdah Al Askariah in Abu Dhabi. Valued at approximately AED26.6 million, the market will provide quality retail offerings to surrounding residents in the form of supermarkets, pharmacies, restaurants, and shops, while contributing to the area’s community needs.
In the Al Khatim region of Al Ain, another commercial facility, will be constructed over a total plot area of 20,461sqm and will include roadways, parking areas, landscaping, and a food truck park.
ADIO also signed a Musataha agreement to establish the third branch of Readymix Abu Dhabi Ltd LLC The AED12 million concrete manufacturing facility will span 15,000sqm of land in Madinat Zayed, with a gross floor area (GFA) of 536sqm.
These projects represent avenues of cooperation, and ADIO’s ongoing support for the private sector in driving economic growth and improving the quality of life for Abu Dhabi communities. In providing the right opportunities for local investors to thrive, ADIO is optimising the potential of Abu Dhabi’s public land bank by channelling local investments into successful, sustainable projects.
Organised by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO), the Al Multaqa meetings, held quarterly, update the business community on the state of the economy and highlight potential investment opportunities in Abu Dhabi. The meetings serve as a platform for dialogue between businesses and government, helping to shape policy and unlock further investment.