The development of a vibrant primary and secondary debt market in Abu Dhabi and the wider UAE would bring manifold benefits, acting as an alternative source of funding for the emirate’s growing companies that presently rely on lending by banks. It would also provide a welcome boost to the asset management industry by expanding the number of financial instruments...
The emirate’s capital markets stand at an interesting point in their short history. Having recovered from the effects of the global economic crisis, Abu Dhabi was recently upgraded to emerging market status by two of the world’s most influential indexers, as the exchange prepares for expansion. In the meantime, Abu Dhabi’s first financial free zone is rapidly taking...
Lending to the nation’s construction and real estate sector rose markedly in 2013, according to data from the Central Bank of the UAE (CBU). In December 2012 the total amount of outstanding credit to the sector stood at Dh129.2bn ($35.2bn) – comfortably within the range mandated in the wake of the global economic crisis and deterioration of real estate markets in Abu...
Another year of steady asset growth has seen the UAE banking sector retain its position as the largest in the GCC and, as usual, the Abu Dhabi-based component has played an important part in the expansion. Having successfully emerged from the global economic turbulence of recent years, the sector is on a trajectory of loan-book growth and sustainable profits. It is now...
The UAE is often said to be over-banked, with 23 local banks and 28 foreign institutions currently licensed to operate in the nation. To be sure, banking density in the UAE – at 11.9 branches per thousand people, according to data from the World Bank – is high compared to some markets in the region. Yet many of its neighbours have developed far more densely populated...
While Abu Dhabi’s global reputation and high per capita GDP are derived from the exploitation of its hydrocarbon resources, the emirate is also home to what has been described as the world’ first “cleantech” cluster. Masdar City was established in 2006 as a centre for research and development (R&D) for clean technology and is set to become one of the most sustainable...
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