Singaporean robo-investment platform StashAway has launched a wealth management service for high-net-worth individuals (HNWIs) in the United Arab Emirates (UAE), following similar implementations in Singapore and Hong Kong.

This comes as HNW investors in the Middle East and North Africa (MENA) face high fees, inflated minimum investments in private markets, and a scarcity of independent financial advice from traditional institutions.

StashAway seeks to mitigate these challenges by lowering entry thresholds for private investments and offering transparent fee structures. The platform offers access to private credit investments through global fund managers such as Hamilton Lane.

The UAE is emerging as a prime destination for HNWIs, with projections suggesting over 6,700 millionaires will relocate to the region this year.