HNWIs prefer Dubai to Paris and Los Angeles

20.06.2017

Higher ROI in Dubai property keeps attracting more global millionaires to Dubai.

New World Wealth, a global welfare research company, ranked Dubai among world’s most popular global cities for multimillionaires (high net worth individuals with a capital of more than USD 10 million) to buy a second home in.

In its latest report on wealth migration in 2017, New World Wealth noted that the number of HNWIs among Dubai property owners increased by five percent in two years, and currently stands at 8,600 people, while a number of homeowners with a capital of USD 1 million in Dubai is 2,400 people.

According to this figures, Dubai is ranked ahead of such popular global cities as Paris, Zurich, Los Angeles, Rio de Janeiro and Sydney. However, London, New York, Hong Kong and Singapore still outstrip the emirate on this wealth ranking ladder.

But only a few cities in the world can compete with Dubai in real estate investment gains. Rizvan Sadjan, an Indian billionaire and a Head of the Danube Group, in his recent interview has emphasized that one can hardly expect to get a 8% -10% guaranteed return on real estate investments in such a short terms in any other global city except Dubai.

“If you want to invest in any property in Dubai, even if you don’t want to stay in the city, even if you just want to invest, you will get at least 8% to 10% of the. The prices may go down, but minimum you will get 8% to 10% as rental income, which is very, very good compared to any property in the world", Sajan said.

Sadjan has also pointed out the exceptional security and transparency of investments and real estate transactions in Dubai, as well as a fairly quick payback: “You don’t have to worry about somebody taking away your property, some legal litigation. It’s all very clean, very transparent, where you can blindly trust an investor in Dubai.”

Real estate projects by Danube currently include a number of units in such Dubai areas as Al Furjan, Studio City and Business Bay with apartments, townhouses and offices priced from AED1000 to AED1,400 per square foot.

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