Family offices in Abu Dhabi are playing a crucial role in driving economic growth and diversification in the emirate, working closely with the public sector to shape its future. These family-owned businesses, which account for nearly 90% of private enterprises in the UAE, significantly contribute to the country’s economy, providing around 60% of its GDP and employing 80% of the private sector workforce, according to KPMG.
With major investments in sectors such as real estate, finance, and construction, family offices are not only bolstering local industries but also pushing Abu Dhabi toward its broader goals of sustainability and economic diversification. Their influence was a focal point at the recent Al Multaqa business summit, where stakeholders from the public and private sectors discussed new investment opportunities.
Family offices have evolved beyond traditional wealth management to become key investors in infrastructure, technology, and clean energy. This expansion aligns with Abu Dhabi’s strategy for economic diversification, as highlighted by Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, during the Al Multaqa event. Al Zaabi emphasized the emirate’s transformation into a hub for talent and innovation through initiatives like the “Falcon Economy.”
Abu Dhabi’s industrial sector is also seeing significant growth, driven by family office investments and initiatives like the Abu Dhabi Industrial Strategy (ADIS). The sector’s GDP grew from AED 83 billion in 2022 to AED 101 billion in 2023, with a rise in industrial licenses and local content certifications. This expansion supports non-oil sectors, promotes technology adoption, and boosts local employment.
The Abu Dhabi Investment Office (ADIO) is further enhancing the emirate’s investment landscape by attracting investors in sectors like clean energy and advanced technologies. Recent agreements under its Musataha Programme allow private developers to invest in government-owned land for impactful projects, such as new community markets and industrial facilities.
Family offices, in collaboration with public initiatives, continue to be central to Abu Dhabi’s transformation into a diversified, innovative, and sustainable global economic hub.
