Abu Dhabi, also Mina Zayed, city in north central United Arab Emirates, situated along the Arabian Gulf. The island port of Abu Dhabi is the centre of finance, transport, and communications for a rich petroleum-producing region. It is the site of an international airport and an artificial deep-water port at Mina Zayed. Urban development projects have been important in relieving a housing shortage caused by rapid growth since the late 1960s. The main thoroughfare is the 7-kilometre (4-mile) long Corniche-a landscaped, seafront promenade. Abu Dhabi is the site of a research institute and a large sports centre. The settlement was founded in the 1760s and in 1795 became the seat of rulers of the emirate of Abu Dhabi. The town had only local significance until the discovery of vast oil reserves in the area in the late 1950s and early 1960s. In 1971 the city was made the federal capital of the newly formed United Arab Emirates. It is also the capital of the emirate of Abu Dhabi.