UAE: Abu Dhabi

Following partial privatisation at the end of the last century, the provision of utilities in the emirate has improved significantly, while disruptions and inefficiencies in both networks have also been greatly reduced under the new model. With the growth in demand for services increasing and showing no signs of diminishing any time in the near future, ensuring an adequate supply of water and...

As a close-out agreement was signed for long-held concessions in early 2014 and the government is looking for potential new partners for the development of its oil and gas fields, 2014 is expected to see a shake-up of Abu Dhabi’s hydrocarbons industry. The government is keen to boost gas production, requiring investment in the emirate’s challenging sour gas reservoirs. This means opportunities in...

In 2012 Abu Dhabi’s insurance sector posted continued growth on the back of increased spending from consumers, corporations and the government. The UAE market overall remains underpenetrated, though total premiums as a percentage of GDP did see a slight increase from 1.9% in 2011 to 2% in 2012. GDP growth and planned government spending on large-scale infrastructure projects will increase the...

Home to some of the UAE’s most prominent Islamic banks and takaful operators, Abu Dhabi has long been a regional centre for Islamic financial services. Global Islamic banking assets are forecast to surpass the $2trn mark by the end of 2014, and Abu Dhabi’s sharia-compliant financers are well positioned to capitalise on this expansion, although a competitive market and the lingering effects of the...

In 2012 the GDP of Abu Dhabi expanded by 5.6% y-o-y, and the government has forecast annual expansion of 5.7% in the 2013-16 period. With a sustained return to positive territory for its main index and a crucial upgrade to “emerging market” status by Morgan Stanley Capital International (MSCI), Abu Dhabi’s exchange has had a good year. Both developments have generated new optimism regarding the...

The UAE’s banking sector has continued to grow in both depth and complexity to become the largest in the region, accounting for 31% of the total volume of the GCC banking sector and about 20% of the gross volume of the Arab banking sector at the close of 2012. The sector’s profitable trend continued into the first half of 2013: aggregate net profit for the period ending June 30, 2013 reached $2....