Gulf real estate and financial companies, set to benefit from higher infrastructure spending, are the most attractive bets in a region largely insulated from global financial turmoil, HSBC said on Wednesday.
HSBC said it won a licence from the market regulator of the UAE to set up a brokerage firm, the country's first managed by an international bank as foreign interest in the region grows.
"Investor interest in the Middle East is the highest it has been due to the international situation," said Paul Cooper, head of equities for Central Europe, Middle East and Africa at HSBC in London.
"There is an unprecedented set of catalysts for transforming the Middle East is very interesting now."
Gulf markets, including Kuwait - which has gained 12 percent this year - have outperformed on several emerging markets, which suffered from fears of recession in the United States. In the Persian Gulf region enjoyed a fivefold increase in oil prices over the past six years and has more than $ 1 trillion of infrastructure projects in the pipeline.
"The focus, in terms of which sectors will benefit from monetary policy and infrastructure investment is really the financial and real estate sectors," Cooper said.
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