Latest news with #highnetworth
Khaleej Times
13 hours ago
- Business
- Khaleej Times
Why millionaires are migrating to Dubai and what it signals
Amid intensifying global scrutiny of wealth and rising tax pressures, Dubai is emerging as a strategic base for high-net-worth individuals seeking long-term security, capital preservation, and global mobility, a new report says. Betterhomes' latest mini-paper, Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth, shows that in less than ten hours, residents can easily connect with major cities worldwide, whether it's for business or leisure, highlighting Dubai's strategic location and seamless access to global markets. 'Far from being a transient luxury hub, the city is becoming a permanent home for the world's elite, drawn not only by its favourable tax regime and political stability but also by its infrastructure, safety, and unmatched global access,' the report says. This shift 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. In a world increasingly challenging wealth creation, Dubai stands out as a stronghold for the financially free, where wealth is not only respected but celebrated. Here, 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, data shows. A historic migration surge Betterhomes anticipates a substantial surge of international wealth flowing into Dubai in 2025. This influx is projected to significantly reshape Dubai's standing within the global financial system. 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. Early forecasts for 2025 suggest this figure will rise further, with approximately 142,000 high networth individuals expected to move internationally in search of security, stability, and opportunity. If even 5% of this cohort were to choose Dubai, the emirate would welcome an estimated 7,100 new millionaires, Betterhomes estimates. These are not transient tourists, but capitalised entrants arriving with substantial liquidity. At a conservative estimate, this would represent an inflow exceeding $7.1 billion (Dh26 billion), equivalent to nearly half of Dubai's total foreign direct investment for 2024. In a market defined by momentum and investor confidence, such capital inflows serve as both signal and catalyst. Diverse origins of wealth migration The origins of this capital migration are as diverse as they are strategic. Some arrive from East Asia, including 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, analysts say. These new arrivals are not mere spectators; they are institution builders, family office founders, and long-term strategists. They bring with them enterprises, teams, and a forward-looking mindset. Their presence underscores a growing recognition of Dubai not simply as a taxefficient jurisdiction, but as a platform for legacy, influence, and sustained wealth creation. '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. 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,' said Louis Harding, CEO of Betterhomes.
Travel Daily News
2 days ago
- Business
- Travel Daily News
Capri by private jet: A seamless journey to the island of elegance
Capri is not a place you stumble upon. It is a destination you seek with intention. When you choose to travel by private jet, you honor that intention from the very beginning. Capri is not simply a destination. It is an atmosphere, a mood, a world unto itself. Draped in myth and Mediterranean sunlight, the island has captivated emperors, artists, and modern tastemakers for generations. With its dramatic cliffs, azure grottos, and the understated glamour that flows through every piazza and villa, Capri is the kind of place that asks for your full attention. And for high-net-worth travelers, that begins with how you arrive. There is no airport on Capri. Commercial flights do not land here. The island's charm is partly owed to its isolation, which has preserved its exclusivity over the years. The typical route involves flying into Naples or Rome, followed by a car journey and a ferry crossing. For those seeking a more refined and time-efficient alternative, private jet charter offers a much more elegant solution. Private jets can land at Naples International Airport or Salerno Costa d'Amalfi Airport, both of which are within reach of Capri's coastline. From there, Platinum Jets coordinates a seamless onward transfer whether by private yacht, high-speed tender, or helicopter directly to the island. This level of care turns a fragmented journey into a curated experience. As a trusted private jet charter broker, Platinum Jets offers access to a global fleet of aircraft suited for every type of traveler. Whether you are flying in from London, Zurich, or New York, they can arrange the ideal aircraft and routing to suit your schedule. Their Instant Quote feature allows you to explore options and pricing in real time, ensuring your itinerary is organized with speed and clarity. The moment you leave the airport behind, the transition begins. You glide across the Bay of Naples with Vesuvius in the distance, or soar above the Amalfi Coast by helicopter. Either way, the stress of traditional travel disappears. Your arrival in Capri feels cinematic because it is. Once on the island, the experience only deepens. Mornings might begin with an espresso in the Piazzetta, followed by a private boat tour to the Blue Grotto or a leisurely afternoon shopping in boutiques tucked along Via Camerelle. Capri's luxury lies not in excess, but in its ability to offer beauty and stillness in equal measure. Evenings bring quiet glamour, whether at a family-run trattoria in Anacapri or a sea-view terrace at a five-star hotel. With Platinum Jets handling the logistics, your focus remains on what matters. Their service extends beyond the aircraft, including ground transportation, multilingual concierge support, and custom inflight experiences. For travelers accustomed to seamless luxury, this level of planning is not a perk. It is an expectation. Capri is not a place you stumble upon. It is a destination you seek with intention. When you choose to travel by private jet, you honor that intention from the very beginning. And with Platinum Jets as your private jet charter broker, every detail of the journey reflects the beauty of where you are going.
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai property prices could drop up to 15% as they hit peak, report says
Dubai's property prices have reached their peak in the current cycle. A correction is expected soon with prices likely to drop not more than 15 per cent, according to a new study released on Thursday. According to global ratings agency Fitch, the emirate will see a massive increase in new supply, growing at 16 per cent during 2025 and 2027, surpassing population growth of around 5 per cent. 'Under our base case, we expect that prices either have already reached their maximum level in the current cycle or will reach that level in 2025. The correction, which we expect in the second half of 2025 or 2026 should not exceed 15 per cent, especially if there are more delays in project completion,' said analysts at Fitch Ratings. 'This will also translate to an easing of pre-sale models offered by developers to investors to 50 per cent payment plans during construction, compared to a current average of 70 per cent. The payment plan has a significant impact on an investor's ability to acquire a new property,' Fitch's analysts said in the latest report on the emirate's real estate market. Dubai's property market has had an exceptional rally over the past four years, driven by demand from foreign investors, high-net-worth individuals and professionals flocking to the UAE over the years. Fitch data showed that prices of residential units increased by about 60 per cent between 2022 and the first quarter of 25 with demand underpinned by immigration in the post-pandemic years coupled with the improved attractiveness of the Dubai property market for investors in the healthy economic environment. Record supply The handover of new units will lead to a record increase in supply. Fitch estimated an average 16 per cent increase in supply in 2025-2027, exceeding forecast population growth of around 5 per cent. Following a record number of new property projects in 2023-2024, about 250,000 units are expected to be released. 'The spike in deliveries is expected in 2026, when about 120,000 units are planned for handover, compared to only 30,000 in 2024 and 90,000 in 2025,' said Fitch analysts. Dubai's population is on track to reach 4 million this year as it hit 3.948 million on May 29. According to Dubai Statistics Centre data, the emirate's population grew 51,295 to 3.914 million at the end of March 2025.
Arabian Business
7 days ago
- Business
- Arabian Business
Dubai real estate market set for boost in brand partnerships after Trump visit
US President Donald Trump's recent visit to the UAE will trigger renewed international investor attention to the country's economic fundamentals and investment landscape, especially in the real estate sector, influencing capital allocation decisions by institutional and wealthy investors globally, industry watchers said. The country's upshot visibility post the high-profile visit can generate tangible market movement with heightened interest from American and international high-net-worth individuals, besides attracting re-engagement from investors previously monitoring the market, they said. With Trump's brand deeply associated with luxury real estate, Dubai – and the wider UAE market – could also see an acceleration of brand collaborations and joint venture conversations, industry players said. 'Increased international spotlight on Dubai in the wake of President Trump's visit will draw renewed attention to the city's high-end property sector,' Farooq Syed, CEO of Springfield Properties, a leading industry player, told Arabian Business. 'Dubai's value proposition – already high with its lifestyle, tax efficiency, and investor-friendly regulations – will get a bumper booster with moments like this – [Trump's visit] – and will contribute to renewed momentum in the premium segment,' he said. Market players said any indication of engagement with Dubai's real estate market – whether through meetings, interest in expansion, or alignment with developers – further supports the emirate's position within the tier-one global property landscape. 'For global investors, the optics of such a visit – particularly when linked to business, real estate, or strategic engagement – serve as an indicator of confidence in the region's long-term trajectory,' an industry executive said. Dubai's global investment appeal Sector experts said Dubai, already established as a global destination for capital and luxury real estate, is expected to benefit in a big way from high-profile external validations such as the Trump visit that reinforces its positioning. For international investors, the Trump visit will reinforce the perception of the UAE as a stable geopolitical environment, a destination open to global partnerships and a platform for long-term private sector participation in regional growth, they said. Syed said several key signals emerge from the US President's recent visit that are relevant to investors evaluating market exposure in the Gulf. 'Global validation of the UAE's investment climate, increased international spotlight on Dubai and a perceived association with the Trump brand – with his flagship business being a Tier 1 global real estate player – are among the key signals that emerge from the high-profile visit that will have major market impact,' he said. 'Trump's presence, through the dual lens of a US President and an internationally recognised business figure, underscores the strength of the UAE's macroeconomic narrative,' the Springfield Properties' chief executive said. Industry watchers said investors often view high-profile engagement of this nature as validation of the country's political stability, regulatory transparency and economic resilience. Trump visit boosts UAE Industry experts said President Trump's engagement with the UAE may be read as a signal of alignment with the country's broader strategic positioning. The visit could also have ripple effects on Dubai's real estate market, as high-level visibility often results in immediate interest in the luxury segment, they said. Industry players said the Trump visit is expected to soon kick off re-engagement from investors who were previously monitoring the market. The market could also see acceleration of brand collaborations and joint venture conversations, they said. Dubai and the UAE markets continue to demonstrate comparable infrastructure and development standards, access to global capital, and competitive yields, particularly in the luxury and branded residence segments. The recent high-profile visit of the US President will lend significant political confidence and soft power to the Gulf country and its markets, with Trump wielding influence across conservative and business-focused investor networks, experts said. Syed, however, said that for the country's real estate sector, the deeper effects of the visit will be typically multi-phased for the real estate, seeing a surge in inbound inquiries for premium and branded real estate in the short-term. 'In the medium-term, it could see growth in international partnerships and co-development interest, while in the long-term, it will lead to a strengthened global narrative around Dubai as a resilient, future-ready investment hub,' he said.
The Herald
24-05-2025
- Business
- The Herald
Two vacant erven sold for a combined R170m in Clifton
Two vacant erven in one of the country's most exclusive addresses have sold for a combined R170m in Cape Town. The plots, a combined space of 2,700m2, are in Nettleton Road, Clifton. While the erven have planning permission for nine apartments, the multinational entity which purchased them plans to build one 'expansive trophy property to crown Nettleton Road', said Annette Hepburn of Pam Golding Properties, who secured the sale. 'This is one of a few remaining vacant sites in this highly sought-after address, where properties rarely become available and when they do, opulent, completed residences can be acquired for upwards of R150m,' said Hepburn. 'Nettleton Road is the most exclusive of all streets in the country, with a limited number of residential properties, large luxurious, iconic homes which offer all the elements desired by high-net-worth individuals — an unparalleled lifestyle, exclusivity, privacy and rarity, and above all, the spectacular views.' The street is home to captains of industry and luxurious designer homes. The combined sale price of the erven included VAT. TimesLIVE
