Dubai: Over 200 residents own assets of more than $100 million

The centi-millionaires, also known as ultra-high-net-worth individuals, have investable assets worth more than $100 million. A Henley Global Citizens Report previously predicted that 4,000 millionaires would relocate to the United Arab Emirates in 2022.
In the past, a Henley Global Citizens Report predicted that 4,000 millionaires would move to the United Arab Emirates in 2022.
Published: by Waheed Abbas Sun, 15 January 2023, 5:33 p.m. Dubai has been ranked among the top 20 cities in the world and is home to more than 200 cent-millionaires.

The emirate, ranked 18th among top cities, is home to 202 super-wealthy or centi-millionaires, according to a Henley & Partners study.

The ultra-high-net-worth individuals, or centi-millionaires, have investable assets worth more than $100 million in their pockets.

Due to its successful response to the Covivirus-19 pandemic, Dubai has attracted a large number of millionaires, many of whom have made the emirate their primary or second home.

In 2022, according to a Henley Global Citizens Report, 4,000 millionaires would move to the United Arab Emirates, surpassing major nations like Australia, Singapore, Israel, Switzerland, the United States, Canada, New Zealand, the United Kingdom, India, and others.

According to a study by Henley & Partners, the UAE will outpace Vietnam, India, and Mauritius as one of the fastest-growing markets, growing at a rate of 52% between 2022 and 2032.

The San Francisco Bay Area, London, Los Angeles, Beijing, Shanghai, Geneva, Chicago, Singapore, and Houston round out the top 10 cities with the highest proportion of centi-millionaires.

Sources: Henley & Partners, KT Research Cities with millionaires in the city New York 737 San Francisco 623 London 406 Los Angeles 393 Beijing 363 Shanghai 350 Geneva 345 Chicago 340 Singapore 336 Houston 314 There were 25,490 millionaires worldwide, with the United States accounting for 38%, followed by China, India, the United Kingdom, Germany, Switzerland, Japan, Canada, Australia, and Russia.

According to Dmitry Kaminskiy, general partner at Deep Knowledge Group, international financial centers like New York, London, and Dubai typically have the highest concentrations of centi-millionaires worldwide.

According to Kaminskiy, “age-friendly cities are perceived to be attractive destinations for people seeking to live comfortably during their retirement years,” but “longevity valleys will become the ultimate destination for centi-millionaires, regardless of their stage of life,” in the next few years.

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