HSBC eyes UAE'S rising affluent with region's first wealth centre

HSBC has unveiled its first wealth centre in the Middle East, choosing Dubai as the location for the flagship facility as the bank sharpens its focus on the UAE's rapidly expanding affluent and high-net-worth population.

- Issac John [e-mail]

The state-of-the-art centre, housed within HSBC's Jumeirah branch, is designed to serve Premier and wealth clients with private meeting spaces, dedicated relationship managers, and bespoke solutions to manage, grow and protect assets.

The launch comes as the UAE enhances its status as the world's leading magnet for millionaires. According to the latest Henley & Partners wealth migration data, the UAE is projected to attract about 9,800 new millionaires in 2025, more than any other country globally. These inflows are expected to bring in an estimated $63 billion (Dh231 billion) of investable wealth. In 2024, the country welcomed 6,700 millionaires, again topping global rankings.

Global wealth hub

Today, the UAE is home to roughly 130,500 millionaires, alongside 325 centi-millionaires with $100 million or more in liquid assets and 28 billionaires. Dubai accounts for the largest share, underlining its appeal as a global hub for wealth and investment.