Latest news with #highnetworthindividuals
Khaleej Times
9 hours ago
- Business
- Khaleej Times
Dubai's quarterly residential realty deals top 50,000 for the first time
Dubai's residential property market surged to unprecedented levels in the second quarter of 2025, driven by a potent mix of investor confidence, population growth, and a steady influx of high-net-worth individuals, data shows. According to the latest report by Savills, the emirate recorded over 50,000 residential transactions — a 21 per cent year-on-year increase and the highest quarterly volume ever. Apartments continued to dominate the landscape, accounting for 80 per cent of all transactions, while off-plan sales remained the cornerstone of market activity, representing 70 per cent of deals. This marks a steady rise from 68 per cent in 2024 and 55 per cent in 2023, underscoring the growing appeal of new developments. Zone 6, which includes areas along the Al Khail corridor such as Jumeirah Village Circle (JVC), Dubailand, and Damac Hills 2, emerged as the most active region, contributing 53 per cent of total transactions. Nearly half of all new residential launches were concentrated in this zone, with major projects like Parkwood by Emaar and Timez by Danube leading the charge. The ready market also showed resilience, with over 15,000 transactions in completed properties. Apartments made up 83 per cent of these sales, reflecting a continued shift toward more affordable and available housing options. Meanwhile, villa and townhouse transactions held steady at around 10,000 per quarter. Supply surged in response to demand, with 20,000 units launched in Q2 alone — a 66 per cent increase compared to the same period last year. Apartments dominated new launches, comprising 91 per cent of the total, while future supply is expected to expand with masterplan developments like Jumeirah Golf Estates Phase 2 and Jebel Ali Racecourse. Dubai's prime residential segment also saw remarkable growth, with over 2,500 properties transacted above Dh10 million — double the volume from Q2 2024. Villas led the premium market, accounting for 76 per cent of high-value transactions, with off-plan deals making up 80 per cent of this segment. The Oasis, Palm Jebel Ali, and Acres were among the top-performing villa communities. Approximately 6,000 units were added to the city's residential stock during the quarter, bringing the H1 volume to 13,500. In addition, approximately 20,000 residential units are slated for completion in H2 2025, underscoring the strength of Dubai's supply pipeline. Government initiatives continue to bolster the market. The launch of the Dh20.6 billion Dubai Metro Blue Line in May 2025 promises enhanced connectivity across key districts by 2029. Additionally, the Dubai Land Department introduced a First Time Buyer Scheme, offering incentives such as preferential pricing and flexible payment plans to encourage homeownership. Capital values remained strong, with villas appreciating by 4 per cent overall and prime communities seeing gains of up to 10 per cent. Apartment values held steady year-on-year, supported by luxury launches and sustained demand. Looking ahead, Dubai is poised to attract nearly 9,800 millionaires in 2025, according to Henley & Partners, reinforcing its status as a global hub for wealth and investment. Savills Dynamic Wealth Index placed Dubai as the top global city for attracting and developing individual wealth, driven by the strong quality of life proposition, low tax environment and strength of the Golden Visa programme. Despite potential global economic headwinds, the city's political stability, business-friendly environment, and strategic vision continue to position its residential market for sustained growth. 'The emirate's political stability, competitive regulatory landscape, and business friendly ecosystem are expected to support ongoing population and investment inflows,' the report, authored by Andrew Cummings, Head of Residential Agency Middle East and Rachael Kennerley, Director - Research at Savills, said.
Zawya
6 days ago
- Business
- Zawya
RAK ICC strengthens foundations regime with 2025 legislative enhancements
Ras Al Khaimah, UAE: Ras Al Khaimah International Corporate Centre (RAK ICC) has announced significant amendments to its Foundations Regulations 2019, which took effect on 31 July 2025. The changes represent one of the most substantial updates to the regime since its introduction, reinforcing the UAE's position as a competitive jurisdiction for wealth structuring and long-term asset protection. RAK ICC Foundations are widely recognized for their flexibility, confidentiality, and legal robustness, making them a preferred choice for high-net-worth individuals, entrepreneurs, and family offices, both within the UAE and internationally. These structures are commonly used for succession planning, family governance, and consolidating diverse assets under a single legal entity. The 2025 amendments introduce stronger legal safeguards and improved governance measures which include: Firewall Provisions – Stronger protection from foreign judgments conflicting with RAK ICC Regulations. Three-Year Statute of Limitations – Limits challenges to establishment or asset transfers to three years. Cause of Action Provisions – Creditor fraud claims are limited to the specific asset involved and only if rendering the founder insolvent. Duress and Officer Protections – Nullifies actions taken under foreign legal coercion, preserving internal governance autonomy of a foundation. Strengthened Arbitration Framework – Disputes can be resolved privately with court-level powers. Private Trustee Foundation Provisions – Clarifies asset segregation and fiduciary integrity for property held in trust by a foundation. Assets held within RAK ICC Foundation will now benefit from enhanced firewall provisions, ensuring that foreign judgments conflicting with UAE law cannot be enforced against them. A new three-year limitation period has been established for challenging the formation of a foundation or the transfer of assets into it, providing greater certainty for founders and beneficiaries. The reforms also tighten creditor protection rules by requiring proof of insolvency in fraudulent transfer claims, with liability capped at the value of the disputed asset to prevent overreach into unrelated holdings. In addition, the updated regulations address governance integrity and operational resilience. Officers of a foundation who receive foreign orders inconsistent with RAK ICC law are obligated to disregard them, thereby safeguarding the autonomy of the foundation's decision-making. The framework now explicitly confirms that assets held in trust by a foundation are legally distinct and separate from foundation property, ensuring clear asset segregation. Dispute resolution has also been strengthened, with arbitration provisions expanded to grant tribunals court-like powers, enabling disputes to be resolved efficiently, confidentially, and in line with international best practices. These changes are part of RAK ICC's broader strategy to maintain a forward-looking legal and regulatory environment that meets global standards while catering to the specific needs of its client base. They reflect the jurisdiction's commitment to supporting sophisticated wealth planning strategies that balance control, privacy, and long-term security. By enhancing its Foundations regime, RAK ICC is cementing its position in the UAE as a trusted partner for those seeking secure, adaptable, and internationally compliant solutions for wealth preservation and intergenerational planning. About RAK ICC Ras Al Khaimah International Corporate Centre (RAK ICC) is a corporate registry based in Ras Al Khaimah, United Arab Emirates. The organisation provides international business companies and foundations, typically used for private and business structuring, asset consolidation, and succession planning. To date, RAK ICC has incorporated thousands of international companies and supports multi-billion dirhams in structured assets. It serves high-net-worth individuals, entrepreneurs, and businesses seeking flexible and secure solutions for long-term business and wealth management. For media enquiries, contact us at: Email: info@ Website:
Forbes
24-07-2025
- Business
- Forbes
The Changing Dynamics Of Investment Migration And Global Mobility
Ahsan Khaliq is the CEO and founder of Saad Ahsan Residency and Citizenship, a pioneer and leading name in the investment migration world. Countries are increasingly tightening migration policies to manage mass immigration. As nations such as Canada, the U.K. and the U.S. have enforced stricter immigration frameworks, entrepreneurs from countries with a weak passport and limited travel freedom may experience global mobility challenges. The ability to attend international business meetings, exhibitions or trade shows in any part of the world is critical for business growth. Still, some developed countries attract foreign direct investment by offering mobility solutions to high-net-worth individuals, and some are updating their frameworks to better align with their national priorities. This highlights the importance of entrepreneurs and investors keeping up with changes in migration and citizenship-by-investment (CBI) policies to ensure they're making informed choices. Global Mobility Trends In 2025 Some European countries attract non-European Union investors through what's known as "golden visa" programs by offering residence, employment and business opportunities. However, some current global political scenarios are prompting European governments to reshape immigration-by-investment programs. Hungary, for example, restored its golden visa program in 2024 after ending the program in 2017. Under the new program, visa recipients can apply for a residence permit, according to Reuters. To mitigate real estate speculation, Hungarian authorities only offer two investment streams—investment fund or monetary donation—and prohibit the direct purchase of real estate, the International Bar Association said. Or, consider Portugal, which ended its golden visa real estate investment option and revised the program so foreign investors seeking residency can contribute to investment funds instead. Further, Spain ended its residency program for non-EU investors to end real estate market speculation, while Greece has made reforms to its residence-by-investment program, including increasing the investment threshold for real estate in some areas. But in a turn for global investors, the European Court of Justice ruled Malta's golden passport program was contrary to law. Malta was the last country in Europe to offer a citizenship investment scheme, Reuters reported. "Current EU legislation does not, however, regulate conditions for granting residence permits, which several member states offer in return for investments," Reuters also said. Caribbean countries often rely on CBI programs to generate revenue to fund public benefit projects and build resilience to natural disasters. But after security concerns were raised by the European Union in 2023, Caribbean CBI programs went through reforms. The Caribbean countries offering CBI programs—including Dominica, Antigua and Barbuda, Grenada, Saint Kitts and Nevis, and later Saint Lucia—signed a memorandum of agreement to establish the conditions "under which they will cooperate and share information regarding their Citizenship by Investment Programs ... to enhance the integrity, security, and efficiency of these programs," the memorandum said. These reforms aim to ensure compliance, improve due diligence and focus on information sharing among the countries. The countries also agreed to set a minimum investment threshold of $200,000. In my view, this evolving partnership reflects a strong working relationship and shared willingness among CBI countries to adopt a sustainable immigration framework. Following the 2024 U.S. election, some Americans started looking into second passports and relocation to other countries. Business Insider reported that some people were "concerned about Trump's promise to raise tariffs, and how that could impact the economy and the U.S. dollar." The Trump administration has raised tariffs on many imports, especially from China, and in the first five months of 2025, the federal government had already collected $68.9 billion in tariffs and excise taxes, NPR reported. The U.S. is also seeing significant changes in the immigration environment. Further, President Trump has proposed establishing a "Gold Card" that would allow foreigners to live and work in the U.S. for $5 million. Changes In Border Management And Security In The EU Beyond changes to residency- and citizenship-by-investment programs, we're also seeing broader changes to how some countries are handling entry requirements for travelers. For example, to ensure efficient border management and security, the EU is preparing to launch two new systems: the European Travel Information and Authorization System (ETIAS) and Entry/Exit System (EES). ETIAS: This is a travel authorization for citizens of countries and territories that aren't required to have a visa to enter Europe and Cyprus. Thirty European countries require the ETIAS. You must apply for an ETIAS travel authorization, and once at the border, you'll have to provide your passport and any other relevant documentation to ensure you meet entry requirements. This system is set to go live in the last quarter of 2026, according to the EU's ETIAS website. EES: The EES is an automated IT system that's "expected to start" in October of this year. It will register non-EU nationals traveling to Europe each time they cross the borders of certain European countries. (A complete list can be found on the EU's EES webpage.) The EES system will record facial image, fingerprints and travel document data, whereas the ETIAS collects no biometric data. Considerations For Entrepreneurs Investment migration focuses on global opportunities in terms of business and mobility for high-net-worth individuals (HNWIs). The goals of these individuals vary from region to region. Some may prioritize relocation, others may pursue business opportunities, while some value enhanced mobility solutions. Business leaders considering relocation must remember that this process requires strategic planning, investment, settling the family in a new location and other factors. Make sure you calculate the cost of relocation vs. the potential perks, such as integration into a new community, time to migrate, the impact it could have on your professional and personal life, and what the return could be on your investment. Finally, ensure you're following the country's most up-to-date visa requirements, and consider whether the country you're considering will help ensure you're well-integrated into local society and can provide a sustainable environment to grow. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Arabian Business
14-07-2025
- Business
- Arabian Business
Dubai jumps five places to become seventh most expensive city in the world
Dubai has moved up five places to No. 7 as the most expensive city in the world in Julius Baer's Global Wealth and Lifestyle Report for 2025. The report by the Swiss private banking group called Dubai a 'firm challenger' to the traditional bastions of wealth such as London, Monaco and Zurich. The report noted the number of high-net-worth individuals shifting to the emirate, lured by tax incentives and the lifestyle. 'The momentum of millionaires relocating to Dubai, which began during the pandemic, is predicted to continue,' the report added. Global Luxury Costs: Trends and Shifts Singapore remained the most expensive city in the world for the third year running, followed by London and Hong Kong. Monaco was fourth in the list, Zurich fifth, and Shanghai dropped two places to sixth. New York, Paris, and Milan rounded up the top 10, taking up the eighth to tenth spots. For the first time since the survey began in 2020, prices tracked by a basket of luxury goods fell 2 per cent, which Julius Baer described as 'quite exceptional' since historically, high-end consumer prices have risen twice as fast as average consumer prices. Asia Pacific (APAC) countries dominated the list. However, the region saw only slight price decreases of 1 per cent on average across the region, making it the most stable of all the surveyed regions this year. While Singapore and Hong Kong were first and third, Bangkok and Tokyo made the largest leaps, each climbing six places to 11 th and 17 th, respectively. Manila fell to 23rd despite a 7.5 per cent rise in average local currency prices. Mumbai, India's financial capital, moved to No. 20 globally. Despite India's position as a rising economic powerhouse, Mumbai remained relatively affordable for most services, particularly hospitality and travel. It was jointly ranked the most expensive for a treadmill, but the cheapest across the board for LASIK. Christian Gattiker, head of research, Julius Baer, commented: 'In light of ongoing uncertainty, trade tensions, and tariffs, our findings represent the final moment 'before' the current situation. Next year's report will likely provide a fascinating 'after' perspective.' The report showed that hotel suites prices rose 10.3 per cent in Singapore, and fell 26.1 per cent in Hong Kong. London rose on the back of a 26.6 per cent jump in the price of private education after legislative changes and a 29.7 per cent gain in business class flights, but its appeal as a center for wealth had a 'rather turbulent ride' over the past year with the abolition of non-domiciled residency status, which has helped cities such as Dubai, Milan, and Zurich. Julius Baer's Lifestyle Index ranks 25 cities by analysing residential property, cars, business class flights, school, degustation dinners and other luxuries. The bank surveyed high-net-worth individuals with bankable household assets of US$1 million or more from February to March 2025.
