BlackRock Inc. has obtained a commercial license to operate in Abu Dhabi, which is a significant move in the company's strategy to strengthen its presence in the Middle East.

This follows the recent approval for BlackRock to establish its headquarters in Saudi Arabia, indicating a broader commitment to the region.

The new office in Abu Dhabi will enable closer collaboration with local sovereign wealth funds, wealth managers, and various investment vehicles.

BlackRock also intends to seek regulatory approval to operate within the Abu Dhabi Global Market (ADGM), further solidifying its position in this important financial center.