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Dubai, the shining city, has once again become the focus of global UHNWIs. According to reports from The National UAE, UHNWIs globally plan to invest $4.4 billion in Dubai properties this year, marking a 76% increase from the same period last year. Behind this substantial influx of funds into the Dubai real estate market lies the continuous favor of global billionaires for luxury homes in this city and their confidence in its potential.

The latest report from Knight Frank, a globally renowned real estate consultancy, indicates that the average amount UHNWIs in the Gulf region plan to invest in Dubai is $3.1 million, while the global average investment of ultra-high net worth individuals reaches $36.5 million. This data not only reflects the favor of billionaires for the Dubai property market but also underscores their confidence in the future development of this city.

Dubai remains the ideal destination for UHNWIs. Faisal Durrani, Partner and Head of Research in the Middle East at Knight Frank, stated, "Interest in investing in Dubai remains incredibly high." He pointed out that as personal wealth levels grow, interest in investing in Dubai continues to rise. Particularly among billionaires with net assets exceeding $15 million, 78% expressed a desire to own a luxury home in this emirate.

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The attractiveness of Dubai's real estate market continues to rise. From Dubai Marina to Business Bay, from Jumeirah Palm Island to Dubai Canal, these communities have become the preferred places for UHNWIs to purchase properties. They see the investment potential in Dubai, using real estate as part of their diversified portfolio strategy, as well as a second home or vacation residence.

Moreover, Dubai's real estate market has shown strong growth momentum. Knight Frank pointed out that Dubai's luxury real estate market set a record last year, with sales of homes valued at over $10 million almost doubling to $7.6 billion, surpassing London and New York. As of the first quarter of 2024, prices of luxury residential properties valued at over $10 million in Dubai have increased by 18.2% year-on-year, with an overall price increase of 20%.

For UHNWIs, they tend to prefer purchasing ready-made properties. The report shows that 56% of respondents expressed interest in purchasing existing or newly built properties, while only 14% are interested in off-plan properties.

In addition to Dubai, Abu Dhabi is also attracting attention. Global UHNWIs plan to invest $408 million in Abu Dhabi properties this year, demonstrating continued interest in the real estate market in the region. With increasing buyer demand, Abu Dhabi is also continuously launching new projects, such as the Nouran Living project located on Saadiyat Island.