UAE wealth tops $1.15tn as financial assets, real estate and cross-border holdings surge: BCG

Over the same period, real assets increased by 10.2 per cent, reaching $2.18tn, up from $1.98tn, with projections indicating further expansion to $3.21tn by 2029.

UAE total financial wealth rose sharply in 2024, underpinned by strong growth in real assets, cross-border holdings and investable wealth said BCG.

The data points to a structurally resilient wealth landscape, alongside shifting dynamics that are reshaping how firms compete for growth.

UAE financial wealth

Liabilities also rose in parallel, increasing by 9.8 per cent to $207bn in 2024, highlighting what the report describes as steady and balanced financial growth across the system.

According to The Global Wealth Report 2025: Rethinking the Rules for Growth by Boston Consulting Group, the UAE’s investable wealth is projected to rise from $942bn in 2024 to $1.34tn by 2029, representing a compound annual growth rate of 7.2 per cent.

While non-investable wealth is growing at a more moderate pace, the report notes that growth accelerates after 2024, pointing to potential shifts in asset allocation or valuation trends.

Despite continued expansion, BCG notes that the underlying drivers of wealth growth are evolving. Many firms have historically relied on market performance, mergers and acquisitions, and advisor hiring. While these remain important, the report suggests they are no longer sufficient on their own.

Instead, the constraint facing many firms is increasingly internal—specifically, their ability to capture growth opportunities through stronger capabilities, earlier engagement and more effective client strategies.

BCG wealth analysis

BCG’s analysis shows that firms gaining traction are focusing on clearer market positioning, more deliberate client acquisition strategies, better-equipped advisors, and earlier engagement with rising generations of wealth holders.

Technology plays a central role in enabling and scaling these capabilities.

Lukasz Rey, Managing Director and Partner, said: “The key to success today is no longer merely about gaining market exposure or hiring senior bankers; it’s about fostering internal growth. Companies that strategically prioritise advisor development, strengthen their brand identity, and embrace next-generation client strategies are outpacing their competitors—not only in revenue generation but also in achieving higher valuation multiples.”

BCG’s proprietary analysis highlights several major trends shaping the UAE wealth market:

• Cross-border wealth surged by 11.1 per cent between 2023 and 2024, driven by demand for geographic diversification and safe-haven assets
• Financial wealth reached $1.15tn in 2024, with projections pointing to $1.63tn by 2029, a 7.3 per cent CAGR
• Real assets climbed to $2.18tn in 2024 and are expected to reach $3.21tn by 2029, reflecting an 8.1 per cent CAGR
• Liabilities rose to $207bn in 2024, with forecasts indicating growth to $326bn by 2029, a 9.5 per cent CAGR

In terms of asset allocation:

• Equities, currency and deposits remain the largest asset classes in 2024, valued at $374bn and $306bn respectively. These are projected to grow to $554bn and $435bn by 2029, with CAGRs of 8.2 per cent and 7.3 per cent
• Bonds, though smaller at $15bn in 2024, are the fastest-growing asset class, expected to reach $25bn by 2029, with a 11 per cent CAGR
• Life insurance and pensions stand at $24bn in 2024, rising to $32bn by 2029, reflecting a 5.7 per cent CAGR
• Other assets, including alternative investments, total $428bn in 2024 and are forecast to increase to $586bn by 2029, a 6.5 per cent CAGR, underlining increasingly diversified portfolios

Wealth firm strategies

BCG identifies organic growth as a central priority for wealth managers operating in the UAE. The report highlights four high-impact levers for firms seeking to strengthen their growth engines:

• Brand differentiation, focused on trust, relevance and stronger digital marketing
• GenAI-driven client acquisition, using agentic AI to identify high-potential prospects and enable personalised outreach
• Data-driven recommendation systems, integrating data across business lines to anticipate client needs
• Next-generation client engagement, tailored to younger investors with digital-native expectations

Mohammad Khan, Managing Director and Partner at BCG, said:“In the UAE’s fast-evolving wealth landscape, success will hinge on more than market momentum – it will depend on how effectively firms integrate AI and human insight to deliver hyper-personalised client experiences.

“The firms that invest in intelligence-driven engagement and digital trust will not only capture growth but shape the future of wealth management in the region.”