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.
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.
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.
“Data shows that the UAE has become the world’s top destination for wealthy investors and entrepreneurs, attracting more net inflows of millionaires than any other country in the world,” said Mohamed Al Marzooqi, chief executive, UAE, HSBC Bank Middle East. “Initiatives such as long-term residency allow them to put down roots with their families, expanding a client base whose needs in wealth management and cross-border banking align directly with HSBC’s expertise and international network.”
HSBC executives say the customer profile of this segment is evolving rapidly, with younger, more diverse and digitally savvy investors showing strong interest in new economy sectors, technology-driven businesses and alternative asset classes such as tokenised gold. To meet this demand, the bank is expanding its International Wealth and Premier Banking (IWPB) business, investing in digital platforms as well as physical infrastructure such as the new Dubai wealth centre.
Dinesh Sharma, head of International Wealth and Premier Banking for the Middle East, North Africa and Türkiye, said the new facility reflects HSBC’s biggest investment in its international wealth business in two decades. “We are investing in infrastructure, people and products, and our new wealth centre represents the first in a series of enhancements we are making to establish the UAE as a key wealth hub in our network,” he said. “Our goal is to simplify money management for customers across multiple locations by leveraging the connectedness of our key international markets.”
The centre will also serve as a venue for events including seminars and networking gatherings, adding to its role as a hub for financial learning and client engagement. It complements HSBC’s recent digital expansion, including its World Trader platform, which has generated trading volumes of $800 million in the year since launch.
Globally, HSBC is rolling out similar wealth centres in markets such as China, Hong Kong, Taiwan, the UK, Malaysia and Mexico, reflecting a strategy to align with regions where international connectivity is driving demand for sophisticated wealth management. In the UAE, the initiative dovetails with national strategies such as Dubai’s Economic Agenda D33 and Real Estate Strategy 2033, which aim to double GDP, attract high-skilled talent, and reinforce the city’s reputation as a hub for global wealth.
HSBC said it hopes to capture a greater share of the UAE’s affluent segment, which is growing not only in number but also in sophistication, by combining its international network with a rapidly expanding local customer base.
