Abu Dhabi has been named one of the top cities for the ultra wealthy
Turns out, when the world's wealthiest are looking for their next address, Abu Dhabi is high on the wishlist.
New research from Savills has ranked Abu Dhabi as one of the top two global cities for high-net-worth individuals (HNWIs) to live, work and yes – play.
With its tax-free lifestyle, year-round sunshine, glittering cultural institutions, luxury real estate and the all-important sense of safety, Abu Dhabi has emerged as a magnet for millionaires and billionaires alike.
According to the report, more than 6,700 ultra-wealthy individuals made the move to the UAE last year, many from the UK, where taxes can gobble up as much as 45 percent of earnings.
In comparison? The UAE offers a tempting buffet of no capital gains tax, no inheritance tax and generous investment-friendly policies. Add a 10-year golden visa and a tech-savvy, forward-looking economy to the mix and you've got yourself a luxury-lifestyle jackpot.
While Dubai took the top spot in the rankings thanks to its high-profile tax perks, Abu Dhabi isn't far behind – beating out heavy-hitters like Singapore, Zurich, Auckland and major US cities.
What gives the UAE capital an edge? It's not just the money talk. Savvy HNWIs are now choosing cities based on quality of life, climate, safety and culture, not just tax breaks.
Here's what else is fuelling the millionaire migration:
A strong real estate market
Access to world-class healthcare and education
A stable, geopolitically neutral location in turbulent times
A rich cultural calendar packed with opera, art and Formula 1 thrills
With bold ambitions and a booming economy, Abu Dhabi isn't just a destination for wealth – it's a destination of choice. Whether you're drawn by art on Saadiyat, tech in Hub71, or a villa on the Corniche, the message is clear: the good life is calling.
Paul Tostevin, Director at Savills said: 'Against an increasingly changeable geopolitical and economic backdrop, global wealth flows are evolving, as HNWIs and businesses adapt their decisions on where to locate.
'Traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals, and will continue to play a major role, but a sense of place, and a high quality of living, are progressively the deciding factor when making location decisions.'
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