It’s Official! Abu Dhabi Is The Richest City With $1.7 TN In Assets, In The World According To This New Report

A new report regarding the global ranking of cities was recently released by Global SWF. This was in terms of capital managed by their Sovereign Wealth Funds and according to the Data and Research, Abu Dhabi was named the World’s Richest City. Yes, with US $1.7 trillion as of October 2024, the emirate in UAE has taken the top spot.

Abu Dhabi Recognised As The Richest City In The World

According to the data from the Global Sovereign Wealth Funds, it was revealed that Abu Dhabi is the world’s richest city with US $1.7 trillion in assets, as of October 2024. These assets come under the management of ADIA, ADQ, Mubadala, ADFD, Tawazun, ADIC, Lunate, and EIA. However, just behind Abu Dhabi is Oslo, which is also the home of the world’s largest SWF, NBIM. The two names are then followed by Beijing, Singapore, Riyadh, and Hong Kong, which together represent two-thirds of the wealth held by SWF globally, which is US $12.5 trillion.

Also Read: Get Teleported To Greece Right Here In Dubai! Greek Alfresco Restaurant ANÁSA Is Re-Opening On THIS Date

A Look At The Data By Global SWF

It’s worth mentioning that Abu Dhabi’s ranking above Oslo is just slightly higher than the latter with Oslo holding $1.6 trillion in assets. This development is hardly surprising, as the city has grown its impressive portfolio with institutional investors. These are among the world’s largest and the most active dealmakers!

Not to mention, in addition to SWF, Abu Dhabi is also home to several other asset owners. For those who aren’t aware, these include central banks, family offices linked to the Royal family, and even pension funds. The report called Abu Dhabi the Capital of Capital and this is not wrong, as it has grown impressively over the last few decades.

So, isn’t this a moment of immense pride? Well, don’t forget to share this with your buddies!

Cover Image Courtesy: Canva (Images are for representative purposes only)