{"id":46069,"date":"2017-03-02T00:04:00","date_gmt":"2017-03-01T17:04:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=46069"},"modified":"2017-03-01T23:48:01","modified_gmt":"2017-03-01T16:48:01","slug":"dubai-a-magnet-for-the-worlds-wealthy-says-knight-frank","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-a-magnet-for-the-worlds-wealthy-says-knight-frank\/","title":{"rendered":"Dubai a magnet for the world's wealthy, says Knight Frank"},"content":{"rendered":"


\nKnight Frank’s 2017 Wealth Report has ranked Dubai fourth in the world on its list of cities with the biggest inflow of high net-worth individuals (HNWIs). Dubai attracted about 2,000 of these very affluent people in 2015 – growing the local wealthy population by about 5 per cent, the report said. The Australian cities of Sydney and Melbourne led the global inflow list.The Knight Frank report, released today by the property consultancy, also highlighted the Middle East’s rapid growth in the number of ultra high net-worth individuals (UHNWIs), generally defined as those with investible assets of more than US$30 million. It said the number of UHNWIs in the region grew by 48 per cent between 2006 and 2016 and now numbers 7,370, with a combined wealth of $810 billion.Some 1,510 of those are based in the UAE – a number that the report said has grown by 70 per cent over the past 10 years, and is forecast to rise by another 60 per cent by 2026. The UAE has the seventh fastest-growing population of ultra high net-worths.Meanwhile Dubai placed 16th on Knight Frank’s City Wealth Index, which scores cities worldwide based on four criteria – current wealth, future wealth, investment and connectivity. Kate Everett-Allen, a partner in Knight Frank’s residential research team in London, said Dubai scored highly in connectivity.”Dubai is now a truly global hub – two-thirds of the world can be reached within eight hours’ flying time from Dubai,” said Ms Everett-Allen.”Add to this the favourable climate, lifestyle, ease of doing business and favourable taxation [and] it’s easy to see why Dubai remains an attractive proposition for the global elite.”Despite the growing number of wealthy people, the general economic climate in the region has meant that demand for luxury property in the UAE’s two main cities is well below other parts of the world. Of 100 global cities featuring in the report, Abu Dhabi was placed 72nd as prices dropped by 2 per cent in the 12 months to June 2016 and Dubai finished 87th, with prices declining by 4 per cent. Knight Frank said that despite the decline, more recent figures from Reidin have suggested that prime and general residential prices in Dubai have remained flat since August 2016. “This leads us to believe the residential market is reaching its cyclical trough,” it said. The company also expects the number of properties sold in the city to increase this year, and Ms Everett-Allen said that there is still demand at the top end of the market for “well designed high-specification homes”. In its 2017 property forecast, Core Savills said that an increasing focus on affordable homes could lead to a shortage of prime residential stock. The percentage of prime units due to be delivered in 2017 is set to fall to 19 per cent – down from over 30 per cent last year. “We anticipate this higher representation of mainstream stock to cast steady upwards pressure on the sales prices for prime well-maintained existing units in the short to mid-term,” Core Savills said.A report published by the research consultancy Wealth-X in January placed Dubai and Abu Dhabi on a list of the top 50 cities worldwide that were cited by \u00adUHNWIs as targets for their property investments. Dubai ranked 36th, Abu Dhabi 50th. mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai a magnet for the world’s wealthy, says Knight Frank<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Knight Frank’s 2017 Wealth Report has ranked Dubai fourth in the world on its list...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-46069","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bZ3","jetpack-related-posts":[{"id":171408,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainland-chinas-ultra-wealthy-numbers-rise-as-hong-kong-tipped-for-faster-growth\/","url_meta":{"origin":46069,"position":0},"title":"Mainland China\u2019s ultra-wealthy numbers rise as Hong Kong tipped for faster growth","date":"April 23, 2026","format":false,"excerpt":"\r Mainland China\u2019s population of ultra-high-net-worth individuals (UHNWIs) \u2013 those with assets exceeding US$30 million \u2013 has grown by 23 per cent over the past five years to 121,677, and is projected to expand a further 18.8 per cent to 144,602 by 2031, according to Knight Frank. Despite that growth,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46123,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-second-most-favoured-destination-for-asian-uhnwis-to-own-homes\/","url_meta":{"origin":46069,"position":1},"title":"Singapore is second most favoured destination for Asian UHNWIs to own homes","date":"March 2, 2017","format":false,"excerpt":"\r \u00a0 Singapore has been ranked by Asian ultra-high-net-worth individuals (UHNWIs) as the second most preferred destination to acquire a residential property overseas after the UK, revealed Knight Frank\u2019s latest Wealth Report. This comes as concerns over currency, security, healthcare and education constitute important drivers of the global housing market,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":124761,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rich-and-under-40-growing-rank-of-multimillionaires-bodes-well-for-digital-ownership-of-property-knight-frank-report-says\/","url_meta":{"origin":46069,"position":2},"title":"Rich and under 40: growing rank of multimillionaires bodes well for digital ownership of property, Knight Frank report says","date":"March 1, 2022","format":false,"excerpt":"\r The number of multimillionaires in Hong Kong expanded last year at a faster clip than the global average, a trend that is likely to support demand for tokenisation and digital ownership of property, according to a Knight Frank survey.The pool of so-called ultra high-net-worth individuals (UHNWIs) in the city\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-usd1-million-can-buy-you-in-singapore\/","url_meta":{"origin":46069,"position":3},"title":"What USD1 million can buy you in Singapore","date":"March 2, 2016","format":false,"excerpt":"\r Not a lot of living space Aerial view of Luxury yacht in Keppel Bay at Singapore For USD1 million, you can purchase 452 sqft of prime real estate in Singapore (or a small studio apartment), making it the world\u2019s seventh most expensive place to buy luxury property, noted findings\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8207,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/1-million-buys-you-452-sq-ft-in-singapore\/","url_meta":{"origin":46069,"position":4},"title":"$1 million buys you 452 sq ft in Singapore","date":"March 2, 2016","format":false,"excerpt":"\r Aerial view of luxury apartments in Keppel Bay, Singapore. For US$1 million (S$1.4 million), you can purchase 452 sq ft of prime real estate in Singapore (or a small studio apartment), making it the world\u2019s seventh most expensive place to buy luxury property, noted findings from Knight Frank\u2019s Wealth\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":166436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/family-businesses-in-dubai-difc-and-emirates-nbd-sign-strategic-partnership-to-support-uhnwis\/","url_meta":{"origin":46069,"position":5},"title":"Family businesses in Dubai: DIFC and Emirates NBD sign strategic partnership to support UHNWIs","date":"December 3, 2025","format":false,"excerpt":"\r DIFC and Emirates NBD sign deal to enhance governance, succession planning and wealth preservation for Dubai UHNWIs The post Family businesses in Dubai: DIFC and Emirates NBD sign strategic partnership to support UHNWIs appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/12\/Dubai-Emirates-NBD-DIFC-family-business-1000x663-1.jpg?fit=1000%2C663&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46069"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=46069"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=46069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=46069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=46069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}