Dubai and Abu Dhabi are quickly becoming the go-to destinations for the world’s wealthiest individuals—and it’s not just about luxury living. According to new research from global real estate consultancy Savills, both cities are leading the charge in attracting and developing wealth, with Dubai claiming the top spot.

Dubai now hosts over 81,200 resident millionaires, including 237 centi-millionaires (those with $100 million or more) and 20 billionaires, according to a recent Henley & Partners study. The emirate has seen significant momentum, jumping from 21st to 18th place among the world’s top wealth cities in just a year.

What’s driving this surge? A combination of financial incentives, favourable climate, and high quality of life continues to appeal to global high-net-worth individuals (HNWIs). The UAE’s strategic positioning, lifestyle perks, and investor-friendly environment make it especially attractive for individuals who also plan to bring their businesses with them.

The trend is set to grow further. Both Dubai and Abu Dhabi are projected to more than double their centi-millionaire populations over the next decade. Alongside them, other cities like Singapore, Zurich, Auckland, and various US tech hubs also made it to Savills’ top 12 cities list for attracting HNWIs.

But the UAE stands out not just for personal wealth—it’s also climbing the ranks as a hub for corporate investment. In the Savills Dynamic Wealth Index, Abu Dhabi ranked 5th and Dubai 11th for cities best suited for business relocation and investment. This dual appeal to both individuals and corporations highlights the UAE’s growing influence on the global wealth map.

A key factor is Abu Dhabi’s sovereign wealth, which continues to attract global corporates and family offices. This influx is boosting demand for commercial spaces and luxury residences alike. With prime residential values in Dubai rising by 6.8% in 2024, the real estate market is feeling the impact of this high-level investment.

Another important dynamic is the shifting global landscape. As countries around the world adjust their tax systems, fiscal policies, and residency rules, the UAE’s consistent, investor-friendly stance becomes even more attractive. The current geopolitical and economic volatility is prompting HNWIs and businesses to seek out stable, welcoming environments.

Ultimately, while traditional factors like tax benefits, regulatory clarity, and business infrastructure still matter, there’s a growing trend toward choosing destinations that also offer a strong sense of community and high quality of life. Dubai and Abu Dhabi are meeting these evolving expectations—and fast becoming the preferred home base for the world’s elite.

Original source: https://www.msn.com/en-ae/money/news/uae-why-are-so-many-centi-millionaires-relocating-investing-in-dubai-abu-dhabi/ar-AA1CRTxp