Goldman Sachs to open office in Abu Dhabi

Goldman Sachs is set to open an office in Abu Dhabi Global Market (ADGM), as UAE has been seeking to attract more businesses as part of its economic diversification strategy, Bloomberg reported on Monday.

The office is pending final regulatory approval as it will be Goldman Sachs’ first in the capital and the second in UAE after the Dubai International Financial Centre (DIFC).

“We continue to see tremendous opportunities in the Middle East and remain committed to enhancing our presence and capabilities to serve the increasingly sophisticated and diverse client base in the region,” said Goldman Sachs said in a memo.

Goldman Sachs has been optimistic about the Middle Eastern market, particularly the UAE, due to the region’s expanding private wealth and a rise in initial public offerings, mergers, and acquisitions.