The Hong Kong Monetary Authority has today announced that the Abu Dhabi Investment Authority will open an office in Hong Kong.

One of the world’s largest sovereign wealth funds, the Abu Dhabi Investment Authority (ADIA), is set to open an office in Hong Kong in an attempt to delve deeper into opportunities in its investment market.

Hong Kong Monetary Authority (HKMA) chief executive, Norman Chan, said that the opening of a local ADIA office would help the wealth giant establish a strong position in the East Asian market, as well as increasing the business collaboration opportunities between Hong Kong and the United Arab Emirates (UAE).

“Hong Kong is the ideal platform for ADIA and other major asset owners to set up and tap into the enormous investment potential in China and the rest of the region,” he said.

“I am very pleased that ADIA has chosen Hong Kong to open its first office in Asia Pacific.”