Dubai: 10 most popular areas where millionaires are buying properties revealed

Dubai: 10 most popular areas where millionaires are buying properties revealed

Downtown, Palm Jumeirah and Dubai Hills Estate are the three most popular areas among millionaires to buy properties in Dubai, according to Knight Frank.

“The world’s wealthy have been actively targeting Dubai’s most luxurious homes, which tend to be located in the city’s most expensive districts. It is, therefore, no surprise to see Downtown (37 per cent) and Palm Jumeirah (30 per cent) emerging as the top target neighbourhoods for our survey respondents,” the global real estate consultancy said in its inaugural Destination Dubai 2023 report.

The study surveyed 183 high-net-worth individuals (HNWIs) across the UK, North America, Switzerland, France, Italy, Saudi Arabia and India, with each having a net worth of over $3 million, excluding their main home, or primary residence. Together, this group own 851 homes around the world, and has a combined net worth of $3.2 billion.

Moreover, Business Bay, Emirates Hills, Dubai Marina, Dubai Canal, Jumeirah Gold Estate, Jumeirah Bay Island and Mohammed bin Rashid City have emerged among the top 10 most popular neighbourhoods where millionaires are buying homes to live in, and enjoy the safe and luxurious life offered by the emirate.

In June 2022, the Henley Global Citizens Report projected that 4,000 millionaires would migrate to the