UAE National Day 2023, Saudi visa rules, petrol prices fall, Riyadh wins Expo 2030 bid, Dubai plans Vegas-style island and more top news stories this week
HNWI
billionaire in uae
New ‘Billionaire’ credit card launches for ultra-rich: Full benefits revealed
The card is strictly for high-net-worth and ultra-high-net-worth individuals upon careful selection by the team
Billionaire
Dubai home to 210 centi-millionaires and 15 billionaires – expect more ultra-rich residents to come in next decade
Dubai will see a massive increase in the number of people with more than $100m in assets in the next 10 years
DIFC
Nomura opens Dubai office, targets $3tn wealth opportunity
Nomura opens new DIFC premises as it looks to expand wealth business in the region
Australia
UAE to attract 4,500 millionaires this year
UAE an attractive destination for millionaires, with 4,500 expected to move this year
Emirates NBD
UAE bank launches new services for wealthy customers with $2m balance
UAE’s Emirates NBD announces offers targeting ultra-wealthy customers
Asset Management
DIFC: Dubai attracts finance giants to $8tn wealth market
Rothschild, Nomura, EnTrust set up at Dubai International Financial Centre in wealth management boom
Dubai
Most expensive Dubai properties of 2023 revealed
Dubai real estate market attracts high net worth individuals, luxury property prices predicted to increase
HNWI
The value of golden visa programmes and who they benefit
Golden Visa programmes offer an alternative to the often lengthy and uncertain traditional immigration process
Dubai
Dubai luxury property: 219 homes sold for over $10m last year
Dubai is the fourth most active city in the world for ultra-luxury homes
Arnaud Leclercq
Why high net worth investors in the Middle East are shifting to sustainable investments and Islamic Finance
HNW investors have already taken steps to integrate their Islamic beliefs via Shariah-compliant strategies, and want to learn more about sustainable investments, the head of New Markets at Lombard Odier said
Barclays
Barclays to cut 20% of jobs in Dubai wealth management unit
Sources say layoffs will include senior positions and support staff within the Dubai division that employs about 100 people
Dubai economy
UAE attracts about 2,000 millionaires as wealth migration grows
Global Wealth Migration Report for 2019 says Dubai alone attracted more than 1,000 millionaires, more than Los Angeles, Melbourne, Miami, New York, San Francisco or Sydney
High Net Worth Individuals
Opinion: Managing the great wealth transfer
Why wealth managers in the GCC are readying themselves for a more professional future
Downtown Dubai
Developer eyes more ultra-luxury projects in Dubai, wider UAE
Bosses at Signature Developers say the penthouse concept remains in short supply in the UAE
billionaires
UAE forecast to be home to 20 billionaires by 2027
New World Wealth says seven new billionaires will be created in the country compared to 2017
HNWI
Middle East’s ultra wealthy own average of four homes
New data from Knight Frank shows that the region’s UHNWIs are ahead of the rest of the world when it comes to home ownership