Piers Morgan wouldn’t find this wealth in Beverly Hills or Monte Carlo!

The per capita net worth in Abu Dhabi is 17 million Dollars out of a population of 860,000 making it the highest in the world; Piers Morgan wouldn’t find this sort of wealth in Beverly Hills or Monte Carlo!

So why has the government of Abu Dhabi just announced a cash injection of some DH16 Billion (£830 Million) into its Capital’s leading banks?

The banks that have benefited are Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Gulf Bank, National Bank of Abu Dhabi and Union National Bank.

Oliver Hickey Managing Director of Nexus Development Ltd said, “What we are witnessing in Abu Dhabi is nothing more than a proactive confidence boosting exercise. The beneficiary banks are sovereign backed and are in no need of a cash injection to ‘bail them out’. This recent announcement is part of a wider campaign to demonstrate the stability of Abu Dhabi and the UAE in general and to ensure that financial confidence continues.

Abu Dhabi is the capital of the UAE and comprises 80% land of the entire Emirates. It will in time become the hub for Middle Eastern companies due partly to the fact that it has been able to learn from the positives and negatives associated with Dubai. It is my personal belief that Abu Dhabi will be one of the finest places on the planet to live and work due to the integration of its Islamic values with western culture. It is important for the world to understand its heritage but also its wish to embrace all cultures to make Abu Dhabi a centre for culture and tourism. With oil supplies expected to last the next 100 years. compared to Dubai’s projected deadline of 2015, Abu Dhabi will continue to reign supreme. Abu Dhabi will also play host to the new Guggenheim and Louvre museums, further endorsing their plans for expansion and culture and after a hugely successful international marketing campaign, will be a regular fixture for the formula 1 grand prix.

Abu Dhabi is in no way stealing Dubai’s thunder and to make a direct comparison between the two is difficult as they are two completely different entities. Dubai has undoubtedly been the focal point of the Middle East over the last 10 years as its 20 year vision continues to pick up pace, however it faces a tough 18 months as developers learn to abide by the rules of RERA. (Real Estate Regulatory Authority) As the world’s biggest and most impressive building development ever, it will evolve to become a strikingly level playing field for investors, as it undoubtedly becomes a playground for the rich and famous that no other area on the planet can ever come close to. However if you were to ask the average person on the street, which is the richest and most powerful area in the Middle East; I believe that they would all confirm that it was not Bahrain or Dubai but indeed Abu Dhabi.”


For more information, visit nexusdevelopmentltd.com