Abu Dhabi’s new finance cluster aims to add $15bn to its GDP
Abu Dhabi has launched the FinTech, Insurance, Digital and Alternative Assets (Fida) cluster, which is forecast to add AED56 billion ($15.3 billion) to the emirate’s gross domestic product (GDP) by 2045.
The cluster will generate 8,000 new skilled jobs and attract at least AED17 billion in investment by 2045, the UAE state-run Wam news agency reported.
The cluster, approved by Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, was announced at the Abu Dhabi Finance Week 2025. It will be overseen by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office.
Fida will expand access to diverse funding sources, including alternative lending, venture debt and growth capital, for small and medium enterprises (SMEs), which represent 42 percent of Abu Dhabi’s non-oil GDP, the report said.
The cluster will also strengthen Abu Dhabi’s insurance and reinsurance capacity, supporting the emirate’s growing economy and establishing it as a hub for sophisticated risk management.
It will further enable the development of investor-protected savings products for UAE nationals and expatriates, as well as the establishment of new retirement planning frameworks.
In October 2023 Abu Dhabi set up the smart and autonomous vehicles industry (Savi) cluster in Masdar City, which aimed to add up to AED120 billion to the country’s economy.
In April the government launched the health, endurance, longevity and medicine (Helm) cluster, bringing together global companies focused on the preventative care, drug efficacy and human longevity industries.
You May Also Like
Japan-Based Bitcoin Treasury Company Metaplanet Completes $1.4 Billion IPO! Will It Buy Bitcoin? Here Are the Details
Will It Fall Below $3K or Test the Upside?
