The Global SWD Foundation issued a new global classification, which includes the most prominent Arab and international cities, among the most expensive by the size of sovereign assets.
According to the Foundation, “5 Arab cities are among the most expensive in the world in terms of the volume of capital managed by their sovereign wealth funds.”
According to the Foundation’s statement, “The Emirate of Abu Dhabi came in first place as the richest city in the world, in terms of sovereign wealth funds, with $1.674 trillion, as of October 1, 2024, and the Norwegian capital, Oslo, came in second place thanks to its embrace of the second largest sovereign wealth fund in the world, which manages… Assets worth $1.6 trillion.
According to the institution, “Beijing came in third place, with assets worth $1.342 trillion under management, as it is the main headquarters of the China Investment Corporation. Singapore ranked fourth, with assets worth $1.135 trillion, which includes “GMC” and “Temasek.” Holding Company, while the Saudi capital, Riyadh, ranked fifth with assets worth $1.119 trillion through the Public Investment Fund.
According to the statement: “In sixth place is Hong Kong, with assets worth $1.106 trillion managed through the State Administration of Foreign Exchange Company “SAFE” affiliated with the People’s Bank of China, and Kuwait came in seventh place with assets worth $978 billion, followed by Doha with assets worth $978 billion. $510 billion, while Dubai ranked ninth with sovereign assets amounting to $490 billion, while the Australian city of Melbourne ranked tenth with assets amounting to $239 billion.”
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