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

The investment in the 24,000 sq ft wealth hub is the bank’s largest in the last 20 years in the premier banking segment, HSBC UAE CEO says

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HSBC has opened its first Middle East wealth centre in the UAE, spanning some 24,400 sq ft. Photo: Handout

Published: 7:30am, 22 Sep 2025Updated: 6:02pm, 23 Sep 2025

HSBC has opened its first wealth management centre in the United Arab Emirates (UAE) – the first step of its biggest investment in the international wealth and premier banking business in two decades – to tap the growing investment appetite of affluent investors in the Middle East, according to a top banker.

The bank’s 24,000 sq ft wealth centre started operations in Dubai on Tuesday, where some 90 relationship managers will cater to the investment needs of high-net-worth individuals in the UAE. The country is one of the world’s top destinations for wealthy investors and entrepreneurs, attracting increasing inflows from millionaires.

The investment in the wealth centre aligns with HSBC’s enhanced focus on Asia and the Middle East.

“The UAE is one of the top priority markets for HSBC, where we make around US$1 billion in profit, and the growth opportunity is significant,” said Mohamed Al Marzooqi, CEO of HSBC UAE, in an interview with the Post ahead of the Investopia Global conference in Hong Kong last week.

Mohamed Al-Marzooqi, CEO of HSBC’s business in the United Arab Emirates (UAE), during an interview at HSBC’s headquarters in Hong Kong on September 16, 2025. Photo: Jonathan Wong

“To cater to the growing segment of internationally minded affluent customers, we made our biggest investment in our international wealth and premier banking segment in the last two decades,” Al Marzooqi said.

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