ADGM, the international financial centre of Abu Dhabi, reinforced its position as the largest and fastest-growing financial hub in the Middle East and North Africa (MENA) region during the first half of 2025, reporting more than 11,000 active licences and a 42 per cent jump in assets under management (AUM).

The centre also became the region’s largest IFC by market capitalisation of its registered entities listed on a stock exchange, reflecting ADGM’s role in supporting Abu Dhabi’s non-oil economy, which expanded to 9.1 per cent in the first quarter of 2025.

Ahmed Jasim Al Zaabi, chairman of ADGM, said: “As we approach a decade of operations, ADGM’s sustained commitment to excellence is strongly reflected not just in its growth numbers, but also in the rising global confidence in Abu Dhabi’s role as a financial powerhouse and the ‘Capital of Capital’.”

Its operational entities grew to 2,972 during H1, a 42 per cent increase year-on-year, including 308 financial firms and 2,664 non-financial firms.

The centre issued 1,869 new licences, a 47 per cent increase, bringing the total number of active licences to 11,128.

The Financial Services Regulatory Authority (FSRA) issued 52 In-Principle Approvals (IPAs) for financial services firms, up 27 per cent year-on-year, and granted 45 new Financial Services Permissions (FSPs), a 45 per cent increase.

Key global and regional firms operating from the financial centre during H1 included Kimmeridge, Fortress, Circle, Oryx Global Partners, GMB Limited, Partners Group, Carta, Bitcoin Suisse, Tradition, Bitgrit, Harrison Street, Stacks Asia DLT Foundation, Hidden Roads, Polen Capital, Arcapita, Seviora, Aquila Group, Skadden, PATRIZIA, NewVest, Investindustrial and Digital Climate Middle East.

ADGM’s asset management sector saw AUM rise 42 per cent compared to H1 2024. Registered fund and asset managers reached 154, while total funds increased to 209.

US-based Nuveen, managing $3bn–5bn from ADGM, expects regional AUM to double within three years.

ADX: Significant partnerships and milestones

• Fortress Investment Group: established a permanent ADGM office and a USD 1 bn global credit and real estate co-investment with Mubadala.

• Kimmeridge: inaugurated its ADGM office and signed an MoU with Mubadala Energy to co-develop natural gas and LNG ventures.

• IHC, BlackRock, and Lunate: launched a $1 bn+ AI-native reinsurance platform.

• Mubadala and Alpha Dhabi: scaled ADGM-based private credit joint venture to $2.5 bn.

• ADGM became the region’s largest IFC by market capitalisation, with listed entities on ADX surpassing Dhs500bn.

The financial centre maintained global engagement with participation in London’s CityWeek 2025 and roadshows to China and Japan alongside Abu Dhabi Department of Economic Development.

Workforce expansion continued with 35,964 professionals on Al Maryah and Al Reem Islands. Abu Dhabi’s population rose 7.5 per cent in 2024 to 4.14 m residents.

Regulatory and operational milestones

• FSRA concluded MoUs with Azerbaijan, Bhutan, Hong Kong, and Sweden.

• Introduced guidance on sanctions compliance, cybercrime, and cybersecurity; legislative updates aligned with Basel Core Principles and fund regime reporting.

• RA launched AccessRP for property verification and Commercial Permits Regulations, simplified Fees Rules, and signed MoU with Astana International Financial Centre.

• RA conducted 223 per cent more supervision assessments versus H1 2024.

• ADGM Courts launched the Pro Bono Mediators Panel.

• IBA announced IBA Arbitration Day 2026 in Abu Dhabi at ADGM.

ADGM Academy delivered 100 training sessions to over 2,600 participants, hosted 49 sector-specific events, created 900+ job placements for Emiratis, and published eight research papers on AI, cybersecurity, financial crime, and digital asset custody.

As the financial centre approaches its 10th anniversary in October, the centre continues to focus on long-term impact through regulatory innovation, institutional partnerships, and a resilient ecosystem for global finance.

The UAE’s aviation sector has experienced significant growth over the past decade, with total passenger traffic through the country’s airports surpassing one billion between 2015 and 2024, according to statistics from the Federal Competitiveness and Statistics Centre.

Aircraft movements also exceeded 6.4 million during the same period, reported the state news agency, WAM.

The report highlighted the UAE’s global leadership in aviation, noting that the country ranked first worldwide in the air transport quality index and was placed among the top 10 globally in five other indicators.

Authorities said these results reflect the leadership’s forward-looking vision and directives aimed at enhancing the sector’s competitiveness regionally and globally, making it a cornerstone of national economic sustainability.

UAE ranks highly on the global aviation map

Abdullah bin Touq Al Marri, Minister of Economy and Tourism and chairman of the General Civil Aviation Authority (GCAA), credited the sector’s achievements to the success of national strategies and initiatives implemented under the leadership’s guidance. He said the sector continues to shape the future while delivering substantial accomplishments.

“These outcomes reinforce the UAE’s standing on the global aviation and travel map, underlining the sector’s active role in driving national economic growth and competitiveness,” Al Marri said. “They also highlight the country’s pioneering model in building a more efficient and sustainable aviation system, integrating technological innovations with the highest standards of safety and service quality.”

Data from the centre showed that passenger traffic across UAE airports increased from 114.8 million in 2015 to 147.8 million in 2024.

Total passenger numbers, including arrivals, departures, and transit travellers, exceeded one billion over the decade.

Aircraft movements also rose steadily, reaching more than 800,000 by the end of 2024, bringing the total number of arriving and departing flights over the 10-year period to over 6.4 million.

For an industry often scrutinised for its environmental impact, a quiet revolution in resourcefulness is underway. Picture a jet engine born on one aircraft, finding new life on another instead of ending up as scrap. This isn’t science fiction – it’s the emerging reality as aviation embraces the circular economy.

In simple terms, a circular economy means moving away from the old “take, make, dispose” model and instead keeping all products and materials in circulation as long as possible. By extracting maximum value from resources in use and designing out waste, circular principles aim to reduce, reuse, and recycle at every opportunity. These principles are now taking flight in aviation, transforming how we build, maintain, and retire our aircraft – and, in the process, reshaping business strategy across the industry.

The sector is also grappling with the safety implications of sustainable practices, ensuring recycled composites and sustainable aviation fuels meet rigorous regulatory standards.

From linear to circular: A new flight plan

Aviation’s adoption of circular economy practices is still in its early days, but momentum is building fast. Traditionally, retired airliners might languish in desert boneyards, their components scavenged haphazardly or left to rust.

Today, that linear lifecycle is giving way to a more regenerative model. Thanks to advanced recycling and refurbishment techniques, well over 90 per cent of a retired aircraft’s weight can now be reused or recycled. Roughly 40–50 per cent of an aircraft is harvested as serviceable parts, and most of the remainder is reclaimed as raw material.

Remarkably, nearly 100 per cent of modern jet engine components are recyclable or reusable under the right conditions — a testament to how far circular innovation has come. And it’s not just about environmental stewardship; this is also good business. When an aircraft reaches end-of-life, it’s no longer viewed as scrap but as a valuable resource. Key parts are removed, inspected, and overhauled to “as-good-as-new” condition.

At the heart of this shift are the engines — typically the most valuable asset on a plane. In many cases, a used engine in good condition is worth more than the airframe it came from. These powerplants can be transplanted into another aircraft or placed into a leasing pool, extending their service life by years. One airline’s retired engine becomes another’s cost-effective upgrade.

At Aeras Aviation, we’ve seen this shift firsthand. Starting as a traditional parts trader, we’ve evolved into a full-lifecycle partner serving some of the world’s most respected aviation companies — including Lufthansa, DHL, Air France and Delta Airlines. While circularity promises both economic and environmental gains, safety remains the sector’s non-negotiable baseline.

Engines get a second life

Jet engines are a prime example of circular principles in motion. These precision machines are built to be overhauled multiple times. Each restoration — involving meticulous inspections, refurbishment, and part replacement — adds years of viable use. What was once considered worn out is now a revenue-generating, service-ready asset.

What can’t be reused is often recycled. High-value metals, such as titanium, nickel, and cobalt, are melted down and reintegrated into the aerospace supply chain. Yesterday’s engine becomes tomorrow’s turbine blade — or finds life in a different industry altogether.

Across the industry, full lifecyle programmes are enabling airlines and maintenance providers to extend the useful life of engines.

Instead of opting for new engines, many are sourcing, refurbishing, and redeploying existing engines — not only extending the useful life of the hardware but also drastically reducing both cost and carbon impact. That’s sustainability at scale.

The business case for circularity

This model is no longer niche. Airlines operating in a cost-constrained, post-pandemic landscape are now “sweating the asset” longer than ever — and they need dependable, certified partners to help them do it. The cost of new aircraft continues to rise — a narrow-body like the Boeing 737 or Airbus A320 now surpasses $100m — while global supply chain bottlenecks have made fresh deliveries less reliable.

As a result, the market for used serviceable material (USM) is booming. Reusing or overhauling Engine components to OEM standards can be 20–40 per cent more affordable than buying new ones. Airlines and MROs know this, and increasingly, so do investors.

At the same time, regulators and ESG-conscious investors are exerting pressure on aviation to take responsibility beyond flight emissions. The sector’s net-zero by 2050 pledge requires a systemic rethink — and circularity is a key part of that. The European Union’s push for a circular economy, including stricter controls on aircraft disassembly and waste management, shows that this is not just a trend but a policy-backed shift. Companies that stay ahead of this curve won’t just stay compliant — they’ll lead.

A mindset shift for the industry

Circularity also unlocks new business models: engine leasing, power-by-the-hour contracts, predictive maintenance, and more. These models not only extend engine lifespans but also create recurring revenue and deeper customer relationships.

Ultimately, aviation is proving that sustainability and profitability can co-exist — and even reinforce each other. If a safety-critical, regulation-heavy sector like ours can make circularity work, so can others. And that’s an opportunity for business leaders across industries.

Taking off, responsibly

The circular economy in aviation is no longer an academic idea — it’s a practical, scalable solution already reshaping how value is created. It’s about seeing every retired part not as waste but as potential. It’s about extending the life of what we already have rather than defaulting to new.

By reimagining what’s possible at the end of an engine’s life, we’re not just saving part, we’re creating a smarter, more responsible future for air travel.

Demetrios Bradshaw is the CEO of Aeras Aviation.

Read: UAE aviation sector soars in H1 2025 with 75.4 million passengers

In July, Dubai introduced a new law, Law No. 7 of 2025 Regulating Contracting Activities in the Emirate of Dubai (the law).

The law is a welcome consolidation and update to current regulations and brings the industry in line with best practice. At the heart of the law is a simple message: contractors must register, classify and comply, or face the consequences.

The law provides that each contractor must secure a Dubai Municipality licence and only practice within its official classification tier for contracting activities.

The new Contracting Companies and Engineering Consultancy Offices Evaluation System, due to be launched to coincide with the implementation of the law, is expected to grade contractors on a broader set of objective metrics, such as financial solvency, safety compliance, innovative practices and meeting project delivery times, amongst others.

Contractors’ rating to be published on a digital platform

Contractors’ ratings will be published on a digital platform accessible to government procuring entities, private developers and financial institutions and are likely to influence tender pre-qualification decisions. Any attempts to trade in a different or higher category without promotion is expressly forbidden. Such changes mark the emirate’s desire to drive increased accountability and performance standards in the sector.

Turnkey contracts, in which a single contractor is responsible for delivering an entire project, from design and procurement to construction and commissioning are recognised under the law. Dubai Municipality shall determine the types of projects that turnkey contracts may be used for and applicable requirements. It also permits consortiums. Where two or more contractors agree to carry out a project as a consortium, they will all need to be classified in the municipality’s relevant category associated with the nature of the project. The consortium itself must also be pre-approved by both the employer and the municipality. These are significant and welcome changes to the existing framework in Dubai.

The law also contains provisions relating to subcontracting. In particular, it allows subcontracting only with prior approval from the Dubai Municipality.

No details have been provided as to how this will operate in practice, however, this will be a welcome development to many in the industry who are becoming tired of subcontractor delays, poor quality workmanship and liquidity issues.

The law further requires that subcontractors are licenced and registered with Dubai Municipality and confirms that the main contractor remains responsible for oversight. 

To ensure enforcement of the new rules, the law creates the Committee for Regulating and Developing Contracting Activities; a taskforce chaired by the municipality that will maintain a master registry, coordinate supervising government authorities and draft a sector-wide code of ethics.

Such single point oversight should help prevent and respond to any gaps between regulators, especially on mega-projects which overlap Dubai’s various free zones and special development areas.

Penalties for non-compliance

Penalties for non-compliance with the law vary, with basic breaches attracting a fine of between Dhs1,000 and Dhs100,000, doubling for repeat offenders within a year up to Dhs200,000.

Authorities can also suspend operations for up to a year, downgrade a firm’s classification, freeze contractor licences and even strip professional competency certificates from engineers who sign off on shoddy work.

The law is scheduled to come into force on January 8, 2026 and contractors have 12 months from that date to bring their houses in order.

Once registered, contractors must file annual licence renewals no later than 30 days before expiry to maintain their status.

Failure to renew on time will trigger automatic suspension from the registry, running the risk that the contractor is prevented from being able to bid on new projects and, crucially, from receiving payments on ongoing works during the suspension period.

For an industry long governed by a series of separate decrees, Law No. 7 represents a consolidating moment for construction in Dubai.

It promises a more transparent, professionally tiered marketplace built on rigorous health, safety and environmental benchmarks.

This will help support the continued growth of the industry and encourage further investment in Dubai.

Joy-Emma Martin is an associate and Chris Edwards is counsel at Reed Smith.

Dubai has just added another ‘bold’ experiment to its business playbook. Dubai South, the region’s largest single-urban master development, recently launched the Dubai South Business Hub (DSBH) — a platform that aims to rewire the way entrepreneurs, SMEs, and multinationals set up shop in the city.

Billed as a digital-first free zone, DSBH strips away the usual red tape. Founders can apply for licenses, visas, and renewals online, upload and manage documents through a secure portal, and tap one-click services for compliance.

The pitch is simple: same-day licensing and a founder-first approach designed to turn bureaucracy into a background function.

But DSBH doesn’t stop at incorporation. The new hub is tied to a Beyond Hub platform, a suite of services that many entrepreneurs usually scramble to source piecemeal, such as corporate banking, VAT and accounting support, visa solutions, even family relocation assistance.

In practice, that means a startup can not only incorporate digitally but also keep its back office running without chasing multiple service providers.

Located in the Dubai South Business Park, the hub is plugged into the wider ecosystem: direct links to banks and government entities, access to world-class infrastructure, and the global connectivity Dubai has built its reputation on.

Dubai South positions this as more than a regulatory sandbox; it’s an integrated operating system for businesses that want speed and scale.

Launch of the Dubai South Business Hub to support startup ecosystem

Nabil Al Kindi, CEO of Dubai South Properties, framed the launch as a commitment to the city’s evolving entrepreneurial landscape. “The launch of the Dubai South Business Hub reinforces our commitment to creating an enabling environment that supports the ambitions of our partners and clients. By combining innovation, speed, and flexibility, we are setting a new benchmark for business support services in the UAE and beyond,” he said.

For Dubai South, the business hub is both an infrastructure play and a branding move. In a global market where founders expect seamless digital tools, the hub signals that Dubai isn’t just competing on skyscrapers and tax breaks, but on user experience. It’s a reminder that in the Middle East’s startup race, reducing friction may be the most powerful growth lever.

With DSBH now live, Dubai South is betting that its mix of digital-first operations, end-to-end services, and human support will resonate with the next generation of entrepreneurs eyeing the UAE as a launchpad.