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According to data from Knight Frank, a global real estate consultancy, Dubai not only enjoys favor among HNWIs but also directs their attention towards other UAE cities such as Abu Dhabi and Sharjah.

The attractiveness of Dubai's real estate market stems from several factors. Firstly, its high return on investment captures the attention of global investors. Compared to other major cities, Dubai's real estate investments can yield significant appreciation in a relatively short period, particularly in the luxury and high-end residential sectors. Secondly, Dubai's relatively lower property prices and excellent infrastructure development contribute to its competitive edge in the global real estate market. The city not only offers high-quality commercial facilities and cultural activities but also ensures resident safety and convenience, attracting HNWIs and families from around the world.

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Reported by Gulf News, in recent years, thousands of millionaires from the UK, Africa, Asia, and other regions have found their new homes in Dubai. According to Henley & Partners, Dubai is home to over 72,500 millionaires with assets exceeding USD 1 million, 212 multi-millionaires with properties exceeding USD 100 million, and 15 billionaires. These figures clearly demonstrate Dubai's popularity among the global HNWI community and its key position in global wealth management and real estate investment.

Faisal Durrani, Partner and Head of Research for the Middle East and North Africa at Knight Frank, highlighted: "Dubai remains the destination of choice for global HNWIs. The city has reinforced its position as the most active market for properties valued above USD 10 million, with millionaires drawn to Dubai's lifestyle." Durrani further noted that the average budget of ultra-high net worth individuals considering purchasing property in Dubai is impressively high, indicating strong demand in the high-end property sector.

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Data from Knight Frank and Reidin shows that the high-end residential market in Dubai maintained strong transaction volumes in the first quarter of 2024. Approximately 105 residences valued above USD 10 million were sold, primarily concentrated in areas such as Palm Jumeirah, Jumeirah Bay Island, Business Bay, Al Wasl, and Jumeirah Islands. Additionally, 12 ultra-luxury residences valued above USD 25 million were transacted, underscoring the vibrancy and growth potential of Dubai's high-end real estate market.

Ramjee Iyer, Chairman and Managing Director of Acube Developments, pointed out that as Dubai continues to attract new residents, the demand for appreciating properties continues to rise. Market trends indicate that Dubai's appeal as a secure, dynamic, and business-friendly city is strengthening, putting upward pressure on rental prices. It is expected that rental prices will gradually stabilize in the future.