Latest news with #LouisHarding
Hi Dubai
6 days ago
- Business
- Hi Dubai
Dubai Real Estate Attracts Global Investors Amid US Tariffs, Says Betterhomes Report
Dubai's property market is emerging as a global safe haven for investors amid rising US tariffs on steel and aluminum, according to a new white paper released by Betterhomes. The report, titled Will Trump's Tariffs Impact UAE Real Estate?, outlines how recent US trade measures are reshaping investor sentiment. While the tariffs are primarily aimed at industrial sectors, their ripple effects are being felt across global markets—including real estate. Betterhomes notes a surge in interest from US and Chinese investors, with inquiries up by over 40% and website traffic from those countries jumping 60%. 'Investors are looking for stability, and Dubai is offering that,' said Louis Harding, CEO of Betterhomes. 'We've seen a clear shift since the tariffs were introduced.' The findings align with previous research showing Dubai as a magnet for global wealth. The city now leads in attracting relocating millionaires, highlighting its rising status as a destination for luxury living and strategic investment. Despite global uncertainty, the UAE's economic outlook remains strong. A growing population, robust oil production, a record-breaking 19 million tourist arrivals in 2024, and over 3,500 ongoing infrastructure and real estate projects are fueling confidence. Dubai also plays a significant role in global trade, exporting 350,000 tonnes of aluminum to the US last year, especially for use in key sectors like aerospace and construction. Looking ahead, the emirate's Real Estate Strategy 2033 and national plans to double foreign investment to $65 billion signal a long-term vision. With targets to boost housing supply and increase homeownership to 33%, Dubai is positioning itself as more than just a luxury hotspot—it's aiming to become a central hub in the global property market. News Source: Betterhomes
Al Etihad
15-05-2025
- Business
- Al Etihad
UAE could welcome 7,100 new millionaires in 2025
16 May 2025 00:15 KHALED AL KHAWALDEH (ABU DHABI)The UAE is increasingly becoming the destination of choice of the world's millionaires, thanks to the combination of political stability, tax advantages, safety, and quality of life it offers, a new report has found. This year, the country has the potential to welcome over 7,100 high-net-worth individuals, according to global wealth migration 2025 Millionaire Migration Report by Henley & Partners and Betterhomes forecasts that the UAE could see the largest net inflow of millionaires globally, ahead of the US, Canada, Singapore, and to the report, this projected influx builds on the UAE's already impressive position as the 14th largest wealth market in the world, home to 130,500 millionaires as of December 2024 - a number that has nearly doubled over the past Dubai remains a standout for its flagship luxury real estate and business migration, the report highlights that this trend is part of a broader national strategy to attract long-term capital and talent across the Emirates."Forecasts for 2025 suggest that approximately 142,000 high-net-worth individuals are expected to move internationally," the report said."If even 5% of this cohort were to choose Dubai, the emirate would welcome an estimated 7,100 new millionaires. At a conservative estimate, this would represent an inflow exceeding $7.1 billion."The report details the diverse origins of the anticipated 7,100 new millionaires, citing inflows from East Asia, Europe, South America, and the Middle East. Entrepreneurs from China and Vietnam are also reportedly seeking more stable investment environments. Investors from Turkey and Argentina are also expected to be looking to shield their assets from economic and currency volatility. The report goes so far as to say that even wealth holders from the UK and the US are increasingly viewing the UAE as a haven for capital preservation."These new arrivals are not mere spectators," the report said."They are institution builders, family office founders, and long-term strategists. They bring with them enterprises, teams, and a forward-looking mindset."According to the report, the inflows from wealth migration will drive growth in real estate, financial services, technology, healthcare, and clean energy. According to Louis Harding, CEO of Betterhomes, this shift is seeing the UAE's property market increasingly being shaped by long-term capital rather than speculative investors. "We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence," Harding said.
Business Recorder
15-05-2025
- Business
- Business Recorder
Dubai marked as premier destination for global wealth migration
Currently home to over 81,000 millionaires, Dubai is emerging a 'strategic base for high-net-worth individuals seeking long-term security, capital preservation, and global mobility', according to a new report, 'Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth' by emirate-based property consultancy Better Homes. 'Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital,' Louis Harding, CEO of Betterhomes was quoted as saying in the report. 'We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence. As millionaire migration accelerates, the city's property sector will continue to evolve from a cyclical opportunity into a structural asset class. Dubai is not only a magnet for capital, it is becoming the benchmark for global residential investment.' Dubai is also set to more than double its centi-millionaire population by 2035, according to the recent 'World's Wealthiest Cities Report 2025', compiled by Henley & Partners and New World Wealth. The report added how the city witnessed a staggering 102% growth in millionaire residents over the past decade – placing it among the world's most dynamic and elite wealth hubs. Dubai's centi-millionaire population set to double by 2035 Dubai's prominence as a global wealth anchor This shift, according to Better Homes, reflects more than a property trend; it signals a structural recalibration of global wealth flows. 'As legacy cities like London, San Francisco, Hong Kong, and Paris grapple with rising taxes and growing instability, Dubai offers rare clarity: low tax, luxury lifestyle, and a robust infrastructure,' added the report. Dubai is fast standing out as a wealth stronghold due to policies are designed to attract, not restrict, enabling individuals to safeguard their wealth, plan their legacies, and influence global markets from a secure base. As of December 2024, the UAE was ranked as the 14th largest wealth market globally, with 130,500 dollar millionaires, reflecting a 98% surge over the past decade, added the report. Wealth origins The origins of this capital migration are as diverse as they are strategic. Those arriving from East Asia include Chinese entrepreneurs establishing offshore holdings in response to domestic policy shifts. Others are Vietnamese investors diversifying against rising political and economic uncertainty. From Turkey and Argentina come wealthy individuals seeking refuge from currency depreciation and systemic volatility. Even within established markets, such as the United Kingdom or the United States, Dubai is increasingly perceived as a pragmatic choice for capital preservation and growth. Rising taxation, inflationary measures are all driving this wealth migration. 'Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital,' added Harding. 'We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence.' Earlier this year, Dubai's luxury residential market achieved a new record for $10 million-plus home sales, according to recent data collated by Knight Frank, the global real estate consultancy. A recent report by Knight Frank's latest Destination Dubai report also singled out Dubai as a hub for international HNWIs interested in purchasing a home in the city with a net worth in excess of $15 million. Looking ahead As tariffs impact economies worldwide, latest forecasts highlight a stark contrast between the Euro Area and the UAE, underscoring the UAE's strategic positioning as a premier destination for investment and relocation. In sharp contrast to Europe, the UAE is expecting GDP growth at 4% in 2025, reaching 5% in 2026 and stabilising at 4.7% in 2027, all while maintaining consistent inflation at just 2% throughout. This combination of robust growth and inflation stability cements the UAE's position as a prime hub for wealth migration and economic expansion.
Arabian Business
15-05-2025
- Business
- Arabian Business
Dubai emerges as premier destination for global millionaire migration: Report
Dubai has transformed from a temporary destination to a permanent home for the world's wealthy, with millionaire migration reaching unprecedented levels, a new research reveals. The UAE now ranks as the 14 th largest wealth market globally, housing 130,500 dollar millionaires—reflecting a 98 per cent surge over the past decade, according to the Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth report by Betterhomes. ' Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital. We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence,' Louis Harding, the CEO of Betterhomes said. Dubai to welcome 7,100 new millionaires in 2025, bringing $7.1 billion 2024 marked a significant peak in global millionaire migration, with over 134,000 individuals possessing at least $1 million in liquid investable assets relocating across borders. Forecasts for 2025 suggest this figure will rise to approximately 142,000. If even 5 per cent of these millionaires choose Dubai, the emirate would welcome an estimated 7,100 new millionaires, representing a potential inflow exceeding $7.1 billion (AED26 billion)—equivalent to nearly half of Dubai's total foreign direct investment for 2024. Chinese wealth leads exodus to Dubai as UAE economy projects 5% growth The capital influx comes from diverse origins: East Asia, including Chinese entrepreneurs establishing offshore holdings Vietnamese investors diversifying against uncertainty Turkish and Argentinian wealth seeking refuge from currency depreciation British and American individuals pursuing capital preservation and growth Dubai has secured its position through a combination of factors whilst legacy cities struggle: Favourable tax regime and political stability World-class infrastructure and safety Strategic location providing access to global markets Strong economic growth projections The UAE demonstrates exceptional economic resilience, with GDP growth expected at 4 per cent in 2025, reaching 5 per cent in 2026 and stabilising at 4.7 per cent in 2027, while maintaining consistent inflation at just 2 per cent. In contrast, the Euro Area is projected to grow at a modest 0.8 per cent in 2025, inching up to 0.9 per cent in 2026 and 1.1 per cent in 2027. Dubai home to 237 centi-millionaires as global wealth seeks safe haven Despite a four-and-a-half-year boom, the city's luxury property prices have yet to reach their 2014 peak. Unlike previous cycles driven by speculation, current growth stems from genuine end-user demand. Year-to-date, villas and townhouses have recorded AED53.3 billion in sales, a 50 per cent year-on-year increase. Palm Jumeirah leads with 35 transactions totalling AED1.4 billion, followed by Emirates Hills with 19 deals valued at AED1.3 billion. Dubai has redefined property acquisition by intertwining real estate with identity, curating branded ecosystems that resonate with high-net-worth individuals. For two consecutive years, Dubai has led the global market in sales of homes priced above $10 million, outpacing traditional hubs such as London and New York. Industry experts note that Dubai is not simply attracting wealth but embedding itself within the infrastructure of global affluence, representing a structural realignment rather than a speculative bubble.
Gulf Business
15-05-2025
- Business
- Gulf Business
6,700 millionaires relocated to the UAE in 2024, reports reveals
Image: Dubai Media Office/ For illustrative purposes Dubai is poised to attract a major surge of international wealth in 2025, potentially reshaping its role in the global financial system, according to a new report by real estate brokerage Betterhomes. Titled Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth, the In 2024, 6,700 millionaires relocated to the UAE. With 142,000 millionaires expected to migrate globally in 2025, Betterhomes projects that if just five per cent choose Dubai, the emirate could gain around 7,100 new millionaires — bringing with them approximately $7.1bn (Dhs26bn) in capital. That figure would represent nearly half of Dubai's total foreign direct investment in 2024. HNWIs looking to 'anchor' themselves in Dubai, UAE: Betterhomes CEO 'Dubai's real estate market is no longer driven by speculation, but by strategic, long-term capital,' said Louis Harding, CEO of Betterhomes. 'We are seeing global wealth not just arrive, but anchor itself here, in branded residences, legacy properties, and high-quality developments built for permanence.' The report identifies key global 'push' factors influencing millionaire migration, including increasing wealth taxes, political instability, and tightening immigration policies. These are contrasted with Dubai's appeal as a tax-efficient, safe, and globally connected lifestyle hub. Betterhomes suggests the evolution of Dubai's property market into a 'structural asset class,' with HNWI investment increasingly focused on long-term residential value rather than short-term market cycles. As the emirate continues to draw the world's wealthy, Dubai's role as a global benchmark for residential investment is expected to grow.
