Why the world’s wealthy are moving to Dubai and Abu Dhabi

Dubai and Abu Dhabi have emerged as the world’s most attractive cities for high-net-worth individuals (HNWIs) to relocate to, according to new research from real estate consultancy Savills.

The ranking, part of Savills’ newly launched Dynamic Wealth Indices, reflects growing global demand for cities that offer a blend of economic stability, tax advantages, and quality of life. The UAE’s two largest cities lead the index for individual relocations, followed by Singapore, Zurich, and Auckland.

Savills attributes the UAE’s appeal to its favorable personal tax environment, high concentration of wealthy residents, and strong lifestyle offering. “Abu Dhabi’s sovereign wealth has notably attracted connected family offices and global corporates,” said Rachael Kennerley, Director of Research at Savills Middle East. “In turn, this has stimulated office demand and the luxury residential market.”

The UAE is also a standout in the corporate relocation index, with Abu Dhabi ranking among the top five cities globally, alongside Singapore, Seoul, New York, and London. These rankings were based on business-friendly factors such as corporate tax policy, foreign direct investment, and economic strength.

According to Savills, this dual performance highlights how the UAE is increasingly positioned as a destination for both personal and corporate wealth. “The push of fiscal policies in other countries has heightened the UAE’s pull,” Kennerley added.

Wealth drives real estate surge

The influx of wealthy individuals and businesses has had a visible impact on the UAE’s real estate market. In 2024, Dubai’s prime residential capital values rose by 6.8%, while prime office space values jumped by 7% in Q4 alone. Total residential transactions hit a record high, up 47% year-on-year, with over 4,600 units priced above AED 10 million ($2.72 million) sold — a 23% increase from the previous year.

Paul Tostevin, Director of Savills World Research, said global wealth flows are evolving in response to shifting geopolitical and economic conditions. “Traditional drivers like tax incentives and innovation hubs still matter, but increasingly, a high quality of life is the deciding factor,” he said.

Savills notes that six of the top 12 cities in the Dynamic Wealth Indices feature in both individual and corporate categories, showing that personal and business priorities are increasingly aligned. Cities that attract skilled individuals — often drawn by lifestyle and opportunity — are also drawing the companies that rely on them.

In this context, the UAE’s proactive economic diversification, tax-friendly regime, and infrastructure investments are proving to be more than just attractive — they’re strategic.