Anghami, the leading music streaming service in the Middle East and Africa (MEA) region is collaborating with UAE-based investment firm Abu Dhabi Investment Office (ADIO), to set up its global headquarters and research and development (R&D) center in Abu Dhabi.
Under the deal, the ADIO will provide Anghami with financial and non-financial incentives to establish the center at Hub71, the global tech ecosystem of Abu Dhabi. The alliance is part of the ADIO’s recently announced Innovation Program valued at $545 million (AED2 billion), which is an initiative of the Ghadan 21 accelerator program of the Abu Dhabi government.
Anghami was founded in Lebanon in 2012 as the first music streaming platform in the MENA region, and now it has developed into a market-leading platform providing more than 50 million songs to more than 70 million users, with regional offices in Beirut, Dubai, Cairo, and Riyadh.
“Abu Dhabi is rapidly emerging as a go-to destination for innovation-focused companies, a place where ambitious businesses can pursue digital transformation in a stable, enabling, and supportive environment. We are committed to providing support for technology companies, recognizing that progress in this area unlocks opportunities across other sectors by bringing the fundamental capabilities and infrastructure that all industries will benefit from.”
Eddy Maroun, Co-founder of Anghami said, “As we seek to tap into the considerable growth opportunities for Anghami, Abu Dhabi was a natural choice for our new global headquarters and R&D center. The commitment to supporting innovation, access to a deep pool of talent and the advanced infrastructure all make it ideally suited to our requirements.”
“We are excited for this new chapter in Anghami’s journey and grateful for the opportunities we’ve been offered by Abu Dhabi and the ADIO to be established in one of the most vibrant cities in the Middle East,” commented Elie Habib, Co-founder of Anghami.
Anghami has picked Hub71 for its Abu Dhabi location, in collaboration with WeWork, enabling it to tap into a vibrant group of ambitious tech startups as it works to build pioneering technologies and solutions. The program offers benefits for innovative businesses in high-growth areas, including ICT, Financial Services, Tourism, AgTech and Health Services, and Biopharma, and so on.