Middle Eastern investors will now have greater access to fine wine investing and trading
DUBAI, UAE (September 20, 2022) – Cult Wine Investment, the global leader in fine wine investment with £265m assets under management, has opened an office in Dubai to increase its presence in the Middle East. The newly opened office will serve clients in the Middle East, providing them bespoke fine wine collection and investment management, access to renowned wine experts, and money-can’t-buy experiences.
In the past year, the company has seen increased interest and demand for wine investment from the region with a 29.7% increase (YTD) in investments from clients in the Middle East. The region is fertile ground for investors with 4,000 HNWIs predicted to move to the UAE in 2022, the highest globally and a 208% increase from 2019.1
“There is incredible potential for Cult Wine Investment within the UAE and greater Middle East,” said Tom Gearing, CEO & Co-Founder of Cult Wine Investment. “The uptick in interest has been fuelled by a buoyant wine market, a continuing trend for alternative assets, and the macro environment which has pushed investors to look for ways to protect against rising inflation and volatile markets.”
The company’s new office is strategically located in Dubai’s central business district at the Dubai World Trade Centre, the epicenter for the region’s economy, and will be led by Daniel Ward, Director of UAE for the company.
“Opening our Dubai office marks a major milestone for Cult Wine Investment and establishes a solid foundation for us to grow our client base in the Middle East,” Ward said. “Dubai is a dynamic market and we’re seeing interest from a broad range of clients. The increasing interest is indicative of HNWIs and UHNWIs diversifying their portfolios with assets that are resilient to fluctuation and market uncertainty.”
Gearing noted: “Dubai is sophisticated city with world class luxury hotels and Michelin starred restaurants that boast impeccably crafted wine lists and some of the best sommeliers in the world. It’s exciting to be able to tap into a community of people who are passionate about wine and eager to learn more as we grow Cult Wine Investment’s global reach.”
Cult Wine Investment’s Dubai office will bridge the gap between Middle East investors and the opportunity to invest in the alternative asset class of wine. With market-leading expertise and longstanding relationships in the wine industry, Cult Wine Investment is expertly placed to provide clients with unprecedented access to the most prestigious wines in the world.
The Dubai office will be in seventh in the company’s global locations, joining offices in New York, Toronto, London, Hong Kong, Singapore and Shanghai.
ABOUT CULT WINE INVESTMENT
Cult Wine Investment, the world’s leading fine wine collection and investment management company, is setting a new industry standard. The award-winning company, which manages a fine wine collection worth more than £265m GBP, makes collecting and investing in fine wine as enjoyable and rewarding as the wine itself. Combining a love of fine wine and market-leading industry knowledge with the latest technology, Cult Wine Investment analyses and unlocks the market for clients around the world. Wine collectors and investors alike choose Cult Wine Investment not merely for the extensive financial expertise, but for the shared passion for fine wine, and access to likeminded wine lovers, renowned experts, exclusive events and bespoke experiences. Headquartered in the UK, Cult Wine Investment was founded in 2007 and has offices in Canada, China, Hong Kong, Singapore, and the US supporting clients in more than 80 countries. For more information, please visit www.wineinvestment.com or find us on LinkedIn, Twitter, Facebook, or Instagram.
ABOUT CULT WINES
Founded in 2007, Cult Wines is forging the future foundations of the fine wine market by creating products and experiences that unlock opportunities for producers and consumers. Empowering people through technology, data and access to a global community, Cult Wines endeavours to re-define the fine wine market – making it accessible, secure and rewarding. Headquartered in the UK, Cult Wines has offices in Canada, China, Hong Kong, Singapore, and the US. For more information, please visit www.cultwines.com or find us on LinkedIn, Twitter, Facebook, or Instagram.
