Aberdeen Asset Management has opened its first office in the Middle East region, choosing to set up shop in Abu Dhabi, as it eyes strong economic fundamentals in the region.

The $402 billion UK-listed asset manager announced in a statement on November 16 that its regional hub will be based in Abu Dhabi Global Market, the finance centre of Abu Dhabi. Aberdeen said it had become the first international asset manager to be registered with the ADGM.