Are UAE expats getting richer?

Dubai:The number of foreigners who have acquired more personal fortunes in the UAE is growing, with expatriates now making up a huge part of the country’s wealthy population, according to wealth management experts.

Households that fall under the affluent category, which has an estimated $135 billion (Dh495 billion) to $155 billion in investable assets, grew from 325,000 in 2009 to 335,000 in 2014.

People belonging to this wealth segment are mostly expatriates and are getting increased attention since they look set to outpace their richer peers. “This segment has been growing faster than the high-net-worth and ultra-high-net worth segments, ” strategy& said in its GCC private banking report.

“Expatriates and young population constitute the major category of the affluent investors segment,” according to another report by Markaz.

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