Abu Dhabi Global Market Arbitration Centre Expected To Be Operational In Early 2018
Abu Dhabi Global Market (“ADGM”), the UAE-based international financial free zone, has announced that its own Arbitration Centre is to be established by early 2018.
The ADGM was established pursuant to Abu Dhabi Law No. 4 of 2013 as a free financial zone in the Emirate of Abu Dhabi with its own civil and commercial laws, including the Arbitration Regulations of 2015.
This latest development follows on from the recent announcement that the International Court of Arbitration of the International Chamber of Commerce’s Middle East office will be set up in the ADGM and is expected to be operational by January 2018. Following this, the ICC expects that its staff will be able to accept the registration of arbitral cases under the ICC Rules and it will be possible for ICC hearings to be held in the ADGM Arbitration Centre.
ADGM has announced that the new Arbitration Centre will be equipped with state-of-the-art technology and hearing facilities that will be available to all parties using the Centre’s arbitration and mediation services.
It should be noted that the ADGM Arbitration Centre will not be reserved exclusively for ICC administered arbitrations, or mediations, but will also be available to any party wishing to have its arbitration heard, or mediation held, in the ADGM.
The establishment of the ADGM Arbitration Centre and the ICC representative office has been welcomed by legal practitioners in the region and marks the further strengthening of the UAE as an international commercial hub and as a leading seat for international arbitration.
We continue to monitor the development of the ADGM Arbitration Centre and will provide further updates in due course.