Global HNWI prepared to spend US$ 2.8mln on Abu Dhabi real estate

Global HNWI prepared to spend US$ 2.8mln on Abu Dhabi real estate

Exclusive Findings from Knight Frank’s 2023 Destination Dubai report

ABU DHABI & Ras Al Khaimah, UAE: According to leading global property consultancy, Knight Frank, Abu Dhabi has transformed itself into a global tourist and investment hotspot, repositioning itself over the last 15-20 years as a complimentary cultural and entertainment hub to Dubai.

In Knight Frank’s Destination Dubai flagship report, the emirate emerged as the second most popular real estate investment destination for global HNWI, behind Dubai, with 21% naming the Emirati capital as their most preferred property acquisition destination in the UAE, behind Dubai (67%) and ahead of third placed Ras Al Khaimah (5%).

Abu Dhabi's magnetism owes much to a blend of its cultural landmarks and world-class infrastructures, including Yas Island, Abu Dhabi Global Market, and Saadiyat Island. Its reputation is further bolstered by world-class museums such as the Louvre and the upcoming Guggenheim and Zayed museums. HNWI around the world report being positively influenced by these developments, making Abu Dhabi an even more attractive place to purchase property. Amongst East Asian HNWI, this figure rises to 70%.

Faisal Durrani, Head of Middle East Research says: “Abu Dhabi as a destination has been slowly rising in global prominence, particularly as large-scale cultural and