Abu Dhabi Global Market (ADGM) has plans to open an arbitration hearing centre on Al Maryah Island by 2018, it has been revealed.
The announcement supports the agreement that ADGM reached with the International Court of Arbitration of the International Chamber of Commerce (ICC Court) regarding the latter’s launch of its Middle East representative office in ADGM, UAE news agency, WAM, reported.
The centre, expected to be fully operational by the first quarter of next year, will feature facilities for arbitration hearing that will be made available to all parties seeking dispute resolution services.
Meanwhile, the ICC representative office is expected to become operational by January 2018, according to WAM.
Sultan Al Badi, UAE Minister of Justice, said: “This is a very positive development for the UAE’s strategy and vision aiming to promote the consolidation of the rule of law and uphold the country's position as one of the strongest global leaders in international dispute resolution.
“The opening of this arbitration centre in Abu Dhabi Global Market and the decision of this world-leading arbitral institution to set up its MENA representative office in Abu Dhabi demonstrates the UAE’s significant progress in realising its vision.”