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UAE 2013 Wealth Book

WealthInsight
Published Date » 2013-10-18
No. Of Pages » 99

Synopsis

  • This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in the UAE.
  • The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country’s HNWIs have performed through the crisis.

Executive summary

There were 48,300 HNWIs and 625 UHNWIs in the UAE in 2012. This report reviews the performance and asset allocations of HNWIs and Ultra HNWIs in the UAE and highlights top-performing cities. It also includes an evaluation of the local wealth management market.

Scope

  • Independent market sizing of UAE HNWIs across five wealth bands
  • HNWI volume, wealth and allocation trends from 2008 to 2012
  • HNWI volume, wealth and allocation forecasts to 2017
  • HNWI and UHNWI asset allocations across 13 asset classes
  • Geographical breakdown of all foreign assets
  • Alternative breakdown of liquid vs. investable assets
  • Number of UHNWIs in major cities
  • Number of wealth managers in each city
  • City wise ratings of wealth management saturation and potential
  • Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in the UAE
  • Size of the UAE wealth management industry
  • Largest domestic private banks by AuM
  • Detailed wealth management and family office information
  • Insights into the drivers of HNWI wealth

Reasons to buy

  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
  • Report includes comprehensive forecasts to 2017.
  • Also provides detailed information on UHNWIs in each major city.

Key highlights

  • There were approximately 48,300 HNWIs in the UAE at the end of 2012. These HNWIs held US$182 billion in wealth which equated to 41% of total individual wealth held in the country.
  • UAE HNWIs slightly underperformed the worldwide HNWI average during the review period - local HNWI numbers declined by 8% whilst worldwide HNWI volumes declined by 0.3%.
  • Local wealth was negatively influenced by significant decreases in local equity and local property indices.
  • In 2012, UAE HNWI numbers rose by 13.9%, following a fall of 1.4% in 2011.
  • There are 625 UHNWIs in the UAE. They have an average wealth of US$90 million per person, making them the prime target group for wealth sector professionals. Of this total, there were four billionaires, 84 centimillionaires and 537 affluent millionaires, as of the end of 2012.
Table of contents

1 Introduction
1.1 Details of this Report
1.2 Definitions

2 Executive Summary

3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Benchmarking the UAE Wealth in Context
3.3.1 World statistics
3.3.2 Distribution of wealth in the UAE
3.4 HNWI Volume and Wealth Trends

4 Findings from the WealthInsight HNWI Database
4.1 Trends in HNWI Wealth to 2017
4.1.1 HNWI trend analysis
4.1.2 Trends of the wealth bands
4.1.3 Demographic breakdown of HNWI
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs – sector breakdown
4.2.5 UHNWIs – breakdown by Emirate
4.2.6 UHNWIs – Wealthy Suburbs
4.2.7 UHNWIs – Emirate population densities
4.3 UHNWIs – Billionaires
4.3.1 Billionaire volume trend analysis
4.3.2 Billionaire wealth trend analysis
4.3.3 Billionaire per capita net worth trend analysis
4.3.4 List of billionaires
4.4 UHNWIs – Centimillionaires
4.4.1 Centimillionaire volume trend analysis
4.4.2 Centimillionaire wealth trend analysis
4.4.3 Centimillionaire per capita net worth trend analysis
4.5 UHNWIs – Affluent Millionaires
4.5.1 Affluent millionaire volume trend analysis
4.5.2 Affluent millionaire wealth trend analysis
4.5.3 Affluent millionaire per capita net worth trend analysis
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs – Mid-Tier Millionaires
4.7.1 Mid-tier millionaire volume trend analysis
4.7.2 Mid-tier millionaire wealth trend analysis
4.7.3 Mid-tier millionaire per capita net worth trend analysis
4.8 Core HNWIs – Lower-Tier Millionaires
4.8.1 Lower-tier millionaire volume trend analysis
4.8.2 Lower-tier millionaire wealth trend analysis
4.8.3 Lower-tier millionaire per capita net worth trend analysis

5 Analysis of UAE HNWI Investments
5.1 Analysis by Asset Classes
5.1.1 Trends in alternative assets
5.1.2 Trends in “art, wine and wheels”
5.1.3 Trends of investments in real estate
5.1.4 Trends of investments in cash and deposits
5.1.5 Trends of investments in fixed income
5.1.6 Trends of investments in equity
5.1.7 Trends of investments in business interests
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in the rest of the Middle East (including Turkey and Egypt)
5.2.3 Investments in Asia-Pacific
5.3 Alternative Breakdown: Liquid vs. Investable Assets
5.4 Analysis of Local UHNWI Investments

6 Competitive Landscape of the Wealth Sector
6.1 Competitive Landscape
6.1.1 Private banks
6.1.2 Wealth managers
6.1.3 Family Offices
6.1.4 Offshore wealth
6.1.5 Saturation by emirate
6.1.6 Recent developments
6.2 Wealth Management Industry – Clientele Model and Maturity
6.3 Behavioral Mapping of Wealth Management and Private Banking Industry in the UAE
6.3.1 Financial Advisors
6.4 Pension Fund Industry
6.5 Middle Eastern Private Banking

7 Appendix
7.1 Property Regulations
7.2 Regulations on Taxes
7.3 Economic Indicators
7.3.1 LC to US$ exchange rate
7.3.2 Real GDP growth
7.3.3 Per capita GDP
7.3.4 Domestic market capitalization
7.3.5 Commodity index
7.3.6 Inflation rate
7.3.7 Interest rate
7.3.8 Balance of payments
7.3.9 Stock market performance
7.4 Wealth Breakdowns

8 About WealthInsight

List of Tables


Table 1: HNWI Wealth Band and Group Definition
Table 2: The UAE: Emirates by population, 201
Table 3: The UAE: HNWIs – Volume Distribution Wealth Pyramid, 2012
Table 4: The UAE: HNWIs – Wealth Distribution Wealth Pyramid, 2012
Table 5: The UAE: UHNWI – Gender, 2012
Table 6: The UAE: UHNWI – Source of Wealth (%), 2012
Table 7: The UAE: UHNWIs by sector, 2012 25
Table 8: The UAE: UHNWIs – Top Emirates, 2012
Table 9: The UAE: UHNWIs – Top Suburbs, 2012
Table 10: The UAE: UHNWIs – Population Density in Top Emirates, 2012
Table 11: The UAE: Billionaires – Market Overview (US$ Billion) 2007–2017
Table 12: The UAE: Top Billionaires (US$ Billion), 2012
Table 13: The UAE: Sheikh Billionaires, 2012
Table 14: The UAE: Centimillionaires – Market Overview, 2007–2017
Table 15: The UAE: Affluent Millionaires – Market Overview, 2007–2017
Table 16: The UAE: Mid-Tier Millionaires – Market Overview, 2007–2017
Table 17: The UAE: Lower-Tier Millionaires – Market Overview, 2007–2017
Table 18: The UAE: Allocations of HNWI Assets (%), 2007−2017
Table 19: The UAE: HNWIs − Holdings Growth (%), 2007–2017
Table 20: The UAE: Allocations of HNWI Assets (US$ billion), 2007−2017
Table 21: The UAE: HNWIs – Trends of Investments in Alternative Assets (%), 2007–2017
Table 22: The UAE: HNWIs – Alternative Asset Composition (%), 2007–2017
Table 23: Global: Trends in “Art, Wine and Wheels”, 2007–2012
Table 24: The UAE: Residential Real Estate Price Performance, 2007 - 2013
Table 25: Global: Prime Residential Real Estate Prices (US$ per square meter), 2012
Table 26: The UAE: Dubai Office Demand by Sector, 2Q 2013
Table 27: Global: Prime International Cities Performance (%), 2007–2013
Table 28: The UAE: HNWIs –Foreign investment allocations per asset class (%), 2007–2017
Table 29: The UAE: HNWIs – Liquidity Breakdown (%), 2007–2017
Table 30: The UAE: HNWIs – Liquidity Breakdown (US$ Billion), 2007–2017
Table 31: The UAE: UHNWIs – Allocations and Share of HNWI Assets (%), 2012
Table 32: The UAE: Major Private Banks ranked by local AuM (US$ Billion), 2012
Table 33: The UAE: The UAE: Local Private Banks, 2012
Table 34: The UAE: The UAE: Foreign Private Banks with offices in the UAE, 2012
Table 35: The UAE: Wealth Managers, 2012
Table 36: The UAE: Family Offices, 2012
Table 37: The UAE: Wealth Managers per Emirate, 2012
Table 38: The UAE: Financial Advisors, 2012
Table 39: Middle East: Major Private Banks based outside the UAE (US$ Billion), 2012
Table 40: The UAE: LC to US$ Exchange Rate, 2007–2017
Table 41: The UAE: Real GDP Growth (%), 2007–2017
Table 42: The UAE: GDP Per Capita, 2007–2017
Table 43: The UAE: Domestic Market Capitalization (US$ Billion), 2007–2012
Table 44: Global: Commodity Indices, 2007–2017
Table 45: The UAE: Inflation Rate, 2007–2017
Table 46: The UAE: Benchmark Interest Rate, 2007–2017
Table 47: The UAE: Balance of Payments (US$ Billion), 2007–2012
Table 48: The UAE: Stock Market Performance, 2007–2012
Table 49: The UAE: HNWI Wealth vs GDP Ratio (%), 2007–2017
Table 50: The UAE: Appendix 1
Table 51: The UAE: Appendix 2

List of Figures


Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of the UAE
Figure 3: The UAE: Asset Price Performance (%), 2007–2012
Figure 4: The UAE: HNWI Performance, 2007–2017
Figure 5: The UAE: Local HNWIs vs the World
Figure 6: The UAE: HNWIs – Growth Factor Correlation, 2007–2012
Figure 7: The UAE: HNWIs – Volume Distribution Wealth Pyramid, 2012
Figure 8: The UAE: HNWIs – Wealth Distribution Wealth Pyramid (% share), 2012
Figure 9: The UAE: HNWIs – Age Distribution (%), 2012
Figure 10: The UAE: UHNWIs – Wealth vs Volume Growth (%), 2007–2012
Figure 11: The UAE: UHNWIs – Volume by Wealth Band, 2007–2017
Figure 12: The UAE: UHNWIs – Wealth by Wealth Band (US$ Billion), 2007–2017
Figure 13: The UAE: UHNWIs – Age Distribution (% Share), 2012
Figure 14: The UAE: Billionaires – Market Overview, 2007–2017
Figure 15: The UAE: Centimillionaires – Market Overview, 2007–2017
Figure 16: The UAE: Affluent Millionaires – Market Overview, 2007–2017
Figure 17: The UAE: Mid-Tier Millionaires – Market Overview, 2007–2017
Figure 18: The UAE: Lower-Tier Millionaires – Market Overview, 2007–2017
Figure 19: The UAE: HNWIs – Asset Class Composition (%), 2007–2017
Figure 20: The UAE: HNWIs – Trends in Alternative Assets (US$ Billion), 2007–2017
Figure 21: Global: Trends in “Art, Wine and Wheels”, 2007–2012
Figure 22: The UAE: HNWIs – Foreign Investment Allocation and Growth (%), 2012–2017
Figure 23: The UAE: HNWIs – Geographical Distribution of Foreign Investments (%), 2007–2017
Figure 24: The UAE: HNWIs – Liquidity Breakdown (%), 2007–2017
Figure 25: The UAE: UHNWIs – Asset Class Composition (%), 2007–2017
Figure 26: The UAE: Wealth Management Industry Pyramid
Figure 27: The UAE: Behavioral Mapping of HNWIs, 2012
Figure 28: The UAE: LC to US$ Exchange Rate, 2007–2017
Figure 29: The UAE: Real GDP Growth (%), 2007–2017
Figure 30: The UAE: GDP Per Capita, 2007–2017
Figure 31: The UAE: Domestic Market Capitalization (US$ Billion), 2007–2011
Figure 32: Global: Commodity Indices, 2007–2017
Figure 33: The UAE: Inflation Rate, 2007–2017
Figure 34: The UAE: Benchmark Interest Rate, 2007–2017
Figure 35: The UAE: Balance of Payments (US$ Billion), 2007–2012
Figure 36: The UAE: Stock Market Performance, 2007–2012
Figure 37: The UAE: HNWI Wealth vs GDP Ratio (%), 2007–2017
Figure 38: The UAE: HNWIs – Volume by Wealth Band, 2007–2017
Figure 39: The UAE: HNWIs – Wealth by Wealth Band (US$ Billion), 2007–2017
Figure 40: The UAE: HNWIs – Wealth per Capita (US$ Billion), 2007–2017

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