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About Abu Dhabi

Waha Capital manages assets globally but is deeply rooted in Abu Dhabi's economy

Waha Capital manages assets in the region and internationally, but is deeply rooted in Abu Dhabi's economy. Abu Dhabi is the largest of the seven Emirates in the UAE, and the seat of the country's Federal Government.

The UAE economy has achieved an increasing level of diversification in recent years, having traditionally relied heavily on income from its hydrocarbons based wealth. The country still holds more than 8% of the world’s proven crude oil reserves, and is among the top 10 oil producers globally. It also has the fifth largest natural gas reserves in the world and several current projects both onshore and offshore are expected to boost natural gas production significantly by the end of the decade.

The Abu Dhabi Economic Vision 2030 is the framework for the government’s strategy for economic diversification, through greater investment in knowledge-based industries such as aerospace, petrochemicals and pharmaceuticals, and encouraging private sector development in social infrastructure. 

Public Infrastructure

According to government data, Abu Dhabi’s non-oil industries currently contribute around 50% of the Emirate’s GDP, and this is expected to rise to 64% by 2030. Around $400 billion worth of infrastructural projects have been announced to date with property, social infrastructure and manufacturing feature prominently in Abu Dhabi’s public expenditure in 2014.

Transportation infrastructure is also being developed at a rapid pace, to aid the process of regional integration and trade; notably, the Etihad Railway Project which will connect major commercial and residential centres throughout the Emirates by 2018. 

Abu Dhabi International Airport is continuing to expand its capacity consistent with the demands on a major travel and tourism hub, with passenger traffic growing considerably over the past few years. In anticipation of Expo 2020, tourism facilities are being developed across the Emirates, including in Abu Dhabi, with cultural and leisure developments progressing well on Saadiyat and Yas islands. Developments such as Waha Capital’s ALMARKAZ have been established in response to the strong growth in such large-scale infrastructure projects.

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