Incoming high-net-worth individuals (HNWIs) are projected to invest a staggering $4.4 billion in Dubai property in 2024, representing a remarkable 76 percent increase from the previous year.
This surge in investment underscores Dubai’s growing appeal as a safe haven for the world’s wealthy elite.
According to Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., the UAE is poised to welcome 6,700 millionaires by the end of 2024. This influx is nearly double the combined number expected in the United States and Singapore, traditionally favoured locations for the wealthy.
The impact of this wealth migration on Dubai’s luxury real estate market is already evident. In the first quarter of 2024 alone, 105 homes priced over $10 million were sold, marking a 19 percent increase compared to the same period last year. This trend is expected to continue, with ultra-high-net-worth individuals (UHNWIs) projected to increase by 60 percent in Dubai by 2026.
“The appetite for investing here is high and will keep growing,” Kooijman said, highlighting the city’s appeal to those seeking to optimise and grow their wealth. Dubai’s status as home to over 90 percent of the UAE’s scale-ups further cements its position as a top investment destination for HNWIs and UHNWIs.
The implications of this wealth influx extend beyond real estate. The UAE’s investment tech market is forecast to reach $313.5 million by 2025, representing a 145 percent growth. This creates a diverse range of investment opportunities for wealthy individuals, from space exploration ventures to technology startups and renewable energy projects.
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