Although many have been badly hit by the global recession in the UAE there are still many wealthy individuals and Companies who are now left wondering what is a safe haven for their finances?
Many of the old reliable investments on the Stock Market are going through turbulent times at present and nobody knows where the next crash might still occur and this still makes traditional outlets for the wealthy such as stocks and real estate seem somewhat less reliable.
However despite the possible pitfalls property is still being chosen by many as the lesser of two evils and while investors are certainly more cautious they still feel strategic quality property will come through the recession. The Wealth Report 2010 compiled by Citi private Bank and Knight Frank says that high net worth individuals are still investing about 33% of their money in property.
The next most popular investment option at present is equities and this comes in at just under 25% of the investment market. Cash accounts for approximately 17% of the market and then Bonds are slightly less at 13%. While there appears to be a massive surge in demand for gold it still only comes in at less than 1% of the investment market.
While many still have the finance for investment the report also notes that the population of high net worth individuals has fallen by just under 15% in 2009 meaning many throughout the world have been left penniless at this stage.Paul Holdsworth, Staff Writer, Gulf Jobs Market News