Dubai and Abu Dhabi lead the top five preferred global locations for high-net-worth individuals (HNWIs) looking to relocate, driven by personal tax incentives and a good quality of life, global real estate consultancy Savills has found.
Singapore, Zurich and Auckland round up the remaining top five cities for individuals to move to, according to the Savills Dynamic Wealth Index.
The UAE capital also ranked among the top five places for corporate relocations based on corporate tax and business environments, volumes of foreign direct investment, and economies and knowledge bases, the consultancy found. Abu Dhabi came fifth, below Singapore, Seoul, New York and London.
“Alongside proactive UAE government initiatives designed to attract wealth and businesses, policy shifts in other countries are prompting relocations,” Rachael Kennerley, director of research at Savills Middle East, told The National.
“For example, [investment migration advisory firm] Henley & Partners reported net outflow of 10,800 HNWIs from the UK in 2024. It’s a balance of push factors abroad and pull factors within the UAE.”
The number of millionaires living in Dubai has doubled in the past decade, making it one of the world’s fastest growing wealth hubs, a recent report found.
The World’s Wealthiest Cities Report 2025, prepared by New World Wealth for Henley & Partners, also shows a shake-up of the traditional order, with millionaires leaving London in their thousands. Their departure comes alongside changes to the tax status of non-doms – people who live in Britain but whose permanent home for tax purposes is outside the UK.
Dubai now has 81,200 millionaires, 237 centimillionaires, whose wealth is in the hundreds of millions, and 20 billionaires, according to the data published on April 9, which is for 2024, in US dollars. The previous year, there were 72,500 millionaires, 212 centimillionaires and 15 billionaires.
In the past decade, there has been a 102 per cent increase in the number of millionaires in Dubai. Only the Chinese cities of Shenzhen and Hangzhou have recorded higher growth, of 142 per cent and 108 per cent, respectively.
The UAE attracts more migrating millionaires than any other country, according to previous data from Henley & Partners. Almost twice as many millionaires moved to the UAE last year than to the next most popular country, the US.
“Against an increasingly changeable geopolitical and economic backdrop, global wealth flows are evolving, as HNWIs and businesses adapt their decisions on where to locate,” said Paul Tostevin, director of Savills World Research.
“Traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals, and will continue to play a major role, but a sense of place and a high quality of living are progressively the deciding factor when making location decisions.”
For corporates, Abu Dhabi and Dubai feature among the top 12 cities globally, driven by strong business environments, low taxation and rising levels of FDI, according to Savills.
The country's golden visa programme, which has expanded residency options, a good lifestyle offering, excellent health care and education, safety, and a strategic location and connectivity, have also enhanced its appeal, Ms Kennerley said.
“Technology remains the biggest driver of new wealth,” she added. "Attracting and growing a thriving tech ecosystem will further strengthen the UAE’s competitiveness and appeal to the next generation of global investors and entrepreneurs."
The country’s projected economic growth, at 4.5 per cent for 2025, is also a key driver.
“While prime residential prices in Dubai and Abu Dhabi have seen strong growth, they still represent good value compared to other global cities,” Ms Kennerley pointed out.
“On a price per square foot basis, Dubai remains more affordable than cities such as London, New York and Hong Kong. Despite leading global rankings in terms of price growth, prime property in Dubai continues to offer relatively attractive entry points for HNWIs.”
Six of the top 12 locations feature in both the corporate and individual dynamic wealth indexes. Businesses want to be in places that can provide the necessary talent to sustain them, following skilled workers who tend to prioritise a better quality of life, Savills said.
“Abu Dhabi’s sovereign wealth has attracted connected family offices and global corporates,” Ms Kennerley said. "In turn, this has stimulated office demand and the luxury residential market."
COMPANY%20PROFILE
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Squads
Sri Lanka Tharanga (c), Mathews, Dickwella (wk), Gunathilaka, Mendis, Kapugedera, Siriwardana, Pushpakumara, Dananjaya, Sandakan, Perera, Hasaranga, Malinga, Chameera, Fernando.
India Kohli (c), Dhawan, Rohit, Rahul, Pandey, Rahane, Jadhav, Dhoni (wk), Pandya, Axar, Kuldeep, Chahal, Bumrah, Bhuvneshwar, Thakur.
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The biog
Hobby: Playing piano and drawing patterns
Best book: Awaken the Giant Within by Tony Robbins
Food of choice: Sushi
Favourite colour: Orange
Analysis
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
