HSBC opens first Middle East wealth hub in Dubai to tap booming UAE investment market

Group 1 - HSBC has opened its first wealth management centre in the Middle East, located in the UAE, marking its largest investment in the premier banking business in two decades to cater to affluent investors globally [1][2][5] - The wealth centre spans 24,000 sq ft in Dubai and employs around 90 relationship managers to serve high-net-worth individuals, reflecting the UAE's status as a top destination for wealthy investors [2][4] - The investment aligns with HSBC's strategic focus on enhancing its presence in Asia and the Middle East, where the bank generates approximately US$1 billion in profit [4][5] Group 2 - There is a growing demand for yuan financing among affluent customers, indicating a shift in investment preferences [5] - A recent global trade pulse survey indicates that businesses in the UAE are highly confident in their international trade prospects, significantly outpacing global counterparts [6] - Over 60% of surveyed companies in the UAE are increasing their reliance on the Middle East for trade, with 47% on China and 43% on Europe, showcasing a strategic pivot in supply chain investments [7]