Latest news with #DynamicWealthIndices
Al Etihad
14-04-2025
- Business
- Al Etihad
Abu Dhabi, Dubai top cities for rich individuals, dynamic companies choosing to relocate: report
15 Apr 2025 00:34 ALLAN JACOB (ABU DHABI)Abu Dhabi and Dubai figure prominently among the top five cities attracting both high net worth individuals (HNWIs) and companies seeking to relocate, with economic stability, good quality of life and tax incentives being the major attractions. The country's safe haven status clinches it for rich individuals and dynamic companies, according to real estate consultancy and Abu Dhabi are the top two choices for individuals seeking to relocate, while Abu Dhabi bags the fifth position for corporates moving places. Singapore, Zurich and Auckland follow Dubai and Abu Dhabi for individual relocations, the real estate consultancy said in its Dynamic Wealth Indices report. Only Singapore, Seoul, New York, and London are ahead of Abu Dhabi among companies moving why are these rich individuals and companies moving base? According to the survey, the UAE remains an oasis of calm, more so amid recent global economic disruptions and geopolitical economic environment in the UAE is robust, with effective government policies, few taxes and other incentives. Quality-of-life factors are "increasingly influencing where high net worth individuals and footloose companies choose to locate," Savills said."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," said Rachael Kennerley, Director of Research at Savills Middle means that Abu Dhabi has ranked in the top 5 for both, individuals and corporates looking to relocate, highlighting its range of benefits."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," a company statement 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," said 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."Real estate is booming in both Abu Dhabi and Dubai. 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 Dh10 million were transacted during the year, marking a 23% year on-year increase. Savills said 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.
Khaleej Times
14-04-2025
- Business
- Khaleej Times
UAE: Why are so many centi-millionaires relocating, investing in Dubai, Abu Dhabi?
Dubai and Abu Dhabi have taken the top spots for attracting and developing wealth for millionaires as well as where millionaires are looking to relocate, according to a new study released on Monday. Launched by global real estate consultancy Savills, the research found that Dubai topped the list as it 'combines financial incentives with a good climate and quality of life.' Dubai now boasts 81,200 resident millionaires, including 237 centi-millionaires and 20 billionaires, Henley & Partners' latest study released this month revealed. The emirate is also the biggest climber in the top 50 over the past year, moving from 21st to 18th place. The study noted that Dubai and Abu Dhabi (where 75 residents are centi-millionaires) are projected to see their centi-millionaire populations more than double over the next 10 years. Other cities that made to the top 12 list for attracting high net worth individuals (HNWI) are Singapore, Zurich, Auckland, Boston, New York, San Jose, Seattle, Miami, Dallas and San Francisco, according to Savills Dynamic Wealth Indices. Savills noted that Abu Dhabi and Dubai are a particularly attractive option for HNWIs who bring their companies with them. These areas have a dynamic economy that's diversifying away from oil and attracting growing sums of corporate and sovereign wealth investment. This has boosted real estate transaction volumes and values as prime residential capital values in Dubai rose by 6.8 per cent in 2024. Interestingly, the newly launched index revealed that Dubai and Abu Dhabi are also among the top 12 cities for corporates for attracting and developing business wealth and investment. Abu Dhabi has been ranked 5th while Dubai has been placed at 11th in the index. This means that Abu Dhabi has ranked in the top 5 for both, individuals and corporates looking to relocate, highlighting its range of benefits. '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,' said Rachael Kennerley, director of research at Savills Middle East. It added that fluid geopolitical and economic environment; changing government policies, taxes and incentives; and quality-of-life factors, are increasingly influencing where high net-worth individuals (HNWIs) and footloose companies choose 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,' said Paul Tostevin, director of Savills World Research.`
