Abu Dhabi Global Market announced today, Monday, that it will "expand its area to 10 times the current size as part of Abu Dhabi's plans to diversify its economy by making its financial sector a key contributor." It will add Al Reem Island to its current location on Al Maryah Island. The expansion will make it one of the largest financial centers in the world, covering an area of 1,438 hectares. It stated that "since its opening in October 2015, it has licensed 5,500 companies operating within it." Abu Dhabi Global Market is a free financial zone and serves as the international finance center for Abu Dhabi, the capital of the United Arab Emirates.