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Uae: This emirate has claimed the top spot on list of richest cities globally

 


The capital of the Uae has claimed the top spot on the list of richest cities across the globe. Abu Dhabi is operating in a separate league that is much ahead of its competitors such as Oslo, Beijing and Riyadh. Besides the trillions in assets managed, the Royal Private Offices is also handling $344 billion.

Oil occupies a good part of this stunning city's financial journey. It started in 1958 as Abu Dhabi made a landmark discovery of oil. Some years later, the city started turning into a global financial hub and is today, a prestigious holder of the tag 'richest city'.

Oil is a significant part of Abu Dhabi's richness in today's scenario. But it is certainly not everything. These years, the emirate is far more diversified. There is the Uae's clean energy company Masdar and telecommunications giant e&, for example.

Abu Dhabi is not one of those many cities that prefer to lump their resources into one big pot. Take Mubadala for instance. It started as a development company back in 2002. But today, Mubadala Capital has evolved into a major player in the global financial scene.





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