Dubai’s Department of Economy and Tourism (DET) has signed strategic agreements with Deutsche Bank and HSBC this year to expand investment flows into the emirate and strengthen engagement with international investors.
The most recent deal with the German banks was announced on July 6. The goal is to build direct pathways for global investors, including family offices, ultra-high-net-worth individuals, corporates, family-owned businesses, and industrial groups seeking to establish or expand operations in Dubai.
In April, DET signed a similar deal with HSBC. Both agreements aim to funnel private wealth and new businesses straight into the city.
Partnerships to Channel Wealth to Feed Economic Agenda
Deutsche Bank will leverage its wealth, private, corporate, and investment banking networks to pinpoint clients planning international expansion, relocation, or capital reallocation. DET will then integrate these clients into Dubai’s business ecosystem by providing setup support, coordinating with government entities, and advising on residency and licensing rules.
This alliance supports the Dubai Economic Agenda D33, which aims to double the emirate’s economy over the next decade. Officials also highlighted Dubai’s five-year streak as the leading global destination for greenfield foreign direct investment.
In a DET press release, Dubai Economic Development Corporation CEO Hadi Badri affirmed that the alliance strengthens engagement with key global investors. Similarly, Salman Mahdi, global vice chairman of Deutsche Bank’s Private Bank, emphasized that the partnership cements the bank’s position as a bridge between Europe and fast-growing hubs like Dubai.
