UAE millionaires optimistic about property

12.03.2015
Almost 9 out of 10 millionaires in the UAE (89%) are optimistic about the prospects of the country’s economy – the most among their GCC peers.

GCC millionaires are more confident in the stability of their local economy, according to Emirates Investment Bank's GCC Wealth Insight Report 2015.

According to an Emirates 24/7 report, around 83% of GCC millionaires (as compared to 64% last year) are more likely to invest in assets closer to home.

In addition, almost 9 out of 10 millionaires in the UAE (89%) are optimistic about the prospects of the country’s economy – the most among their GCC peers.

The report also revealed that the GCC’s rich prefer to invest their wealth in their own businesses (33%) and in real estate (30%); almost the same as last year (34 and 25%, respectively) rather than stocks and bonds.

The report is based on a survey of high net worth individuals with $2 million or more in investable assets from the UAE, Qatar, Kuwait, Saudi Arabia, Oman and Bahrain.

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