Dubai, Abu Dhabi take top spots in Savills latest index tracking where global HNWIs choose to locate
The trifecta of a fluid geopolitical and economic environment; changing government policies, taxes and incentives; and quality-of-life factors, is increasingly influencing where high net worth individuals (HNWIs) and footloose companies choose to locate, says Savills.
The global real estate consultancy has launched the Savills Dynamic Wealth Indices to identify the cities that are performing well at attracting and developing wealth and investment from individuals and businesses – and highlights some key factors shaping their location decisions.
Savills says that personal tax incentives, existing high concentrations of HNWIs, and a good quality of life put the cities of Dubai and Abu Dhabi of the United Arab Emirates in the top two positions, followed by Singapore, Zurich and Auckland to make up the top five preferred locations for individuals looking to relocate.
Meanwhile, Singapore, Seoul, New York, London and Abu Dhabi take the top five places for corporate relocations based on their corporate tax and business environments, volumes of foreign direct investment, and economies and knowledge bases.
This means that Abu Dhabi has ranked in the top 5 for both, individuals and corporates looking to relocate, highlighting its range of benefits.
Commenting on the UAE capital's performance, Rachael Kennerley, Director of Research at Savills Middle East says, 'Abu Dhabi's sovereign wealth has notably attracted connected family offices and global corporates. In turn, this has stimulated office demand – with new businesses requiring space – and the luxury residential market. Arguably, the push of fiscal policies of other countries has heightened the UAE's pull.'
The UAE is a particularly attractive option for HNWIs who bring their companies with them – it has a dynamic economy that's diversifying away from oil and attracting growing sums of corporate and sovereign wealth investment.
This has in turn boosted real estate transaction volumes and values. Prime residential capital values in Dubai rose by 6.8% in 2024, with prime office values growing by 7% in Q4 alone. In 2024, the residential sector recorded unprecedented transaction volumes, with a 47% year on-year increase. Of this, over 4,600 units priced above AED 10 million were transacted during the year, marking a 23% year on-year increase.
'Against an increasingly changeable geopolitical and economic backdrop, global wealth flows are evolving, as HNWIs and businesses adapt their decisions on where to locate, explains Paul Tostevin, Director of Savills World Research. '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.'
Savills says that six of the top 12 locations feature in both the corporate and individual Dynamic Wealth Indices – highlighting how business and personal priorities can often overlap as businesses want to locate in destinations that can provide the necessary talent to sustain them, following skilled workers who tend to prioritise a better quality of life. While lifestyle factors appeal chiefly to the individual, the knock-on effects of creating talent clusters – or HNWIs bringing their businesses with them when they relocate - make them a magnet for corporate wealth, too.
Read the complete findings of the study here: Savills Dynamic Wealth Indices
For further information, please contact:
Savills press office:
siddhi.sainani@savills.me
sahrish.munir@savills.me
www.savills.me
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Filipino Times
14 hours ago
- Filipino Times
Unisat Ajman rolls out big offers for Philippine Independence Day and long weekend
In celebration of Philippine Independence Day and the much-anticipated long weekend, Unisat Ajman shops are unveiling a major sale packed with unbeatable deals on popular beverages and well-loved brands by the Filipinos. Shops open daily from 9 AM to 1 AM, Unisat has become a trusted shopping destination for the Filipino community in the UAE, thanks to its spacious store, no tax, and free parking, offering both convenience and value in one place. This limited-time promotion brings a taste of home closer to kabayans with exclusive discounts on well-known party favorites and classic Filipino brands. Check out some of the fantastic deals you can take advantage of: Emperador Light Spanish Beverage 1L – AED 17 Fundador Super Special Beverage 1L – AED 20 Ginebra Premium Gin 75 cl – AED 15 GSM Mojito 1L – AED 15 GSM Frasco Hari 1L – AED 15 Primera Light Beverage 1L – AED 15 San Miguel Pale Pilsen Can 50 cl – 4 for AED 10 / AED 60 per case San Miguel Light Can 33 cl – 5 pcs for AED 10 / AED 48 per case San Miguel Light Bottle 33 cl – 5 pcs for AED 10 / AED 48 per case Fundador 1L – AED 35 Jack Daniels McLaren 70 cl – AED 55 Chivas Regal 1L – AED 99 Jim Beam 1L – AED 45 Whether you're planning a celebration with friends or simply want to enjoy your favorites at home, Unisat Ajman has you covered, from classic Filipino favorites to premium international labels. With these limited-time offers, there's no better time to drop by and stock up. The store boasts a wide selection of beverages at unbeatable prices, making it the perfect destination for value and variety you won't want to miss. For more information, call Unisat Emirates: 056 119 9527 / Unisat Lucky: 056 119 9518 / Unisat Al Zahra: 056 119 9517 and follow @unisatajman on social media. Make your celebrations special with unbeatable offers — only at Unisat Ajman!
Arabian Post
a day ago
- Arabian Post
Dubai Property Market Surges Past AED 66 Billion Mark
Arabian Post Staff -Dubai Dubai's real estate sector demonstrated remarkable momentum last month, with property transactions reaching a record AED 66.8 billion , reflecting a substantial 44% increase compared to the previous year. This surge highlights a growing population and robust demand across various market segments, driven by both primary and secondary sales. The primary ready property segment emerged as a key growth area, experiencing a fourfold increase in sales value to AED 17.9 billion in May 2025. This sharp rise signals strong confidence among buyers seeking completed units, particularly in sought-after developments across Dubai's key residential hubs. The secondary ready market also recorded significant gains, with sales amounting to AED 24 billion, up 21% year-on-year, underscoring ongoing interest in resale properties. ADVERTISEMENT Combined, the value of primary ready and off-plan transactions soared by 65% to AED 37 billion, while secondary sales posted a 23% rise, reaching AED 29 billion. These figures set new benchmarks for Dubai's real estate market, reinforcing its status as a vibrant and attractive destination for investors and end-users alike. Market analysts point to several factors fueling this upward trajectory. Dubai's population continues to expand rapidly, buoyed by relaxed visa policies and a growing expatriate community. This demographic shift is driving demand for residential properties across the emirate, particularly in areas offering integrated lifestyle amenities and proximity to business districts. Infrastructure developments and government initiatives aimed at enhancing the city's appeal remain key contributors to market confidence. Projects such as the Dubai Metro expansion, new business zones, and cultural hubs are attracting both domestic and international buyers. The real estate sector's performance also benefits from Dubai's position as a global trade and tourism hub, which sustains demand in the rental and resale markets. Within the primary ready segment, the quadrupling of sales reflects a broader trend where buyers prefer completed properties over off-plan purchases, reducing exposure to construction delays and market fluctuations. This preference is particularly pronounced among end-users seeking immediate occupancy. Developers have responded by accelerating delivery schedules and introducing competitive pricing strategies to capture this demand. Off-plan sales maintain a strong presence, contributing significantly to the overall primary market value. The willingness of buyers to commit to projects still under construction suggests continued optimism about Dubai's long-term growth prospects. Developers are increasingly targeting affluent buyers with luxury offerings and integrated communities that blend residential, retail, and recreational spaces. The secondary market's 23% growth highlights the liquidity and resilience of Dubai's property resale sector. Investors and homeowners alike are capitalising on rising property values, with many opting to upgrade or diversify their portfolios. This active resale market provides a vital avenue for market participants seeking flexible entry and exit points. Data also reveals that demand is diversifying geographically. While prime locations such as Downtown Dubai, Dubai Marina, and Palm Jumeirah remain highly sought after, emerging areas like Dubai South and Mohammed bin Rashid City are gaining traction. These developments offer competitive pricing and extensive amenities, appealing to both investors and residents aiming for value and quality of life. Real estate experts caution, however, that sustainability remains a crucial consideration amid rapid growth. Affordability challenges and potential oversupply in certain segments could temper future gains if not managed carefully. Nonetheless, current market dynamics suggest a healthy balance between supply and demand, supported by Dubai's strategic economic vision.
Khaleej Times
a day ago
- Khaleej Times
UAE emerging as world's new wealth, investment hub; here's why
The UAE is fast establishing itself as a leading global wealth hub and a magnet for high-net-worth individuals (HNWIs), thanks to its business-friendly environment, robust regulatory framework, and political stability. The latest report by Capgemini Research Institute said that UAE along with Singapore, Hong Kong and Saudi Arabia have established themselves as prime alternatives, utilising advantageous tax policies, strong financial ecosystems, and political stability to draw global wealth.' The study noted global diversification is also a key strategy for next-gen high-net-worth individuals (HNWIs), who seek investment opportunities in traditional wealth hubs of London, Switzerland, and New York, therefore, emerging wealth hubs such as UAE, Singapore, Hong Kong, and Saudi Arabia are very quickly becoming attractive destinations. In the post-pandemic period, the UAE has seen record millionaires migration from around the world. According to Henley & Partners, the UAE attracted 7,200 millionaires from around the world in 2024, 4,700 in 2023 and 5,200 in 2022, attracted by zero income tax, safety and security, high returns on property investments and world-class quality of life. This is in addition to the 6,500 tech millionaires that the emirate housed in the first half of 2024. With a population of just over 10 million, the UAE is the world's 14th largest wealth market, housing 130,500 high-net-worth individuals or millionaires. UAE a wealth management hub The Middle East is also emerging as a formidable contender in global wealth management and the UAE and Saudi Arabia are capitalising on this trend as well, moving quickly to draft regulations that support international investors. 'In an increasingly uncertain world, high net worth individuals no longer question whether to keep their wealth in Switzerland, Singapore, UAE or Saudi Arabia. Instead, they embrace a multi-jurisdictional approach, distributing their assets across various financial centres to mitigate risks and maximise opportunities. Wealth management firms are evolving their strategies to provide clients with a unified view of their diverse investments,' said Capgemini Research Institute's study — Sail the great wealth transfer, setting a course to win next-gen HNWIs. The UAE's net wealth is growing faster than the regional and global average, reaching $2.9 trillion in 2023, growing by 10 per cent from the previous year, versus 8 per cent growth in. the Middle East and Africa region, according to Boston Consulting Group (BCG) annual global wealth report, Global Wealth Report 2024. Meanwhile, global financial wealth rose 7 per cent in 2023, following a decline of 4 per cent in 2022. Over the next five years, an estimated $92 trillion of financial wealth will be created globally. In the UAE, around 81 per cent of financial wealth is investable, which is expected to climb to 83 per cent by 2028, offering wealth managers massive opportunity. Influx of wealth managers To capitalise on the growing opportunities, local and foreign wealth management firms are further strengthening their teams while many new firms have established their presence in the UAE by relocating their offices in Dubai International Financial Centre (DIFC) and ADGM in Abu Dhabi over the last few years. As the Middle East, Africa, and South Asia's leading financial hub, DIFC oversees $450 billion (Dh1.65 trillion) in private wealth. More importantly, the free zone has access to $3 trillion in private wealth within an hour's flight, thanks to Dubai's strategic location. Last year, BlackRock, the world's largest asset manager with $11.5 trillion, was granted a commercial licence to operate in Abu Dhabi. Similarly, Rothschild & Co, a global wealth and management firm with over $100 billion in assets under management — expanded its business in Dubai last year with a new office to cater to the growing number of affluent population in the emirate. ADGM in Abu Dhabi granted licence to trillion-dollar asset management firms PGIM and New York Stock Exchange-listed Prudential Financial and Nuveen. During the first quarter of 2025, ADGM reported that assets under management grew 33 per cent compared to the same period in 2024. At the end of Q1 2025, 119 asset and fund managers managed a total of 184 funds out of ADGM. Next-gen millionaires seek high returns Capgemini Research Institute revealed that 88 per cent of relationship managers say that next-gen millionaires are 'more interested in alternatives than baby boomers.' While baby boomers focus most often on wealth preservation, next-gen HNWIs are predominantly risk takers, favouring higher growth asset classes such as private equity and cryptocurrency. 'With next-gen clients expected to switch relationship managers post-wealth transfer, factors like advisor age, digital experience, and relevance of the overall value proposition are key. To align with the evolving needs of younger and globally mobile investors, wealth management firms must modernize client engagement through artificial intelligence-driven tools, digital channels and tailored solutions,' Eric Mellor, wealth management specialist at Temenos UAE said. Industry executives suggest that many family offices especially led by second and third generations are now investing in cryptocurrency businesses, viewing them not as speculative gambles but as structured, strategic asset classes.
