Middle East

The world’s wealthiest family pays attention to investing in GCC: Experts-Doha News

In the Middle East and Africa family offices, the United States accounts for 37% of assets and the Middle East accounts for 26%.

Over the next decade, investment in ultra-high net worth family offices in the Middle East will increase by at least 50%, according to UBS Chief Executive Officer of Global Wealth Management UBS in Switzerland. Arabian Gulf Business Insights (AGBI)..

Family offices, or private companies that manage family investment and property, aim to efficiently increase and transfer money across generations.

The latest UBS Global Family Office Report 2022 surveyed 221 family offices around the world. These family offices jointly manage $ 439 billion in assets and an average of $ 2.2 billion in assets under management.

According to Joseph Stadler, executive vice president of UBS Worldwide Wealth Management, which oversees some of the bank’s wealthiest clients, the Middle East accounts for only 4% of the family office’s global asset allocation due to lack of opportunity.

According to Stadler, the domestic market is illiquid and there are few options for investing domestically or nationwide.

[AGBI]

“The amount of money to chase domestic asset opportunities exceeds supply. Therefore, if you are a large investor, you naturally have to find an alternative place to invest your money. “

Stadler announces a roll call for a megaproject as part of Saudi Arabia’s Vision 2030 to diversify its economy, Qatar investing billions of dollars in the World Cup, and the UAE continuing to do so in the Middle East We believe that the dynamics of demand and supply are changing. It is easy for foreign investors to enter the market.

He states: [of global allocation] It will rise and it will take about 10 years to get there. ”

The United States, which accounts for 44% of the world’s asset allocation to the Family Office, remains the largest market, followed by Western Europe at 30%.

In the Middle East and Africa family offices, the United States accounts for 37% of assets and the Middle East accounts for 26%.

“China is growing. China has as many unicorns as the United States. That trend is unstoppable and many Middle Eastern investors continue to invest in China,” said Stadler.

China currently accounts for 7% of the Middle East and Africa’s asset allocation, according to UBS’s analysis, but Stadler sees great prospects, especially in the technology sector.

Swiss banks are expanding their operations in the Middle East as a result of the expected increase in commercial outlook.

“Our presence in Qatar was delayed. I think the region is very important,” said Stadler.

It was reported that it opened an office in Doha in February last year to handle assets and wealth management services, and in October the Swiss bank announced an expansion in Dubai, opening a wealth desk to serve Kuwait and Oman. Added.

https://dohanews.co/worlds-wealthiest-families-eye-gcc-investments-expert/ The world’s wealthiest family pays attention to investing in GCC: Experts-Doha News

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