UAE’s growing base of super-rich residents want Dh100m homes, jets, yachts

UAE’s growing base of super-rich residents want Dh100m homes, jets, yachts

Dubai: The UAE has always been the shopping capital for the Middle East – but these days, ‘shoppers’ are as likely to pick up a private jet or a luxury yacht in the UAE. To go along with the Dh100 million to Dh600 million homes that are being snapped up with regularity. The UAE’s resident base of the super-rich has seen a significant increase since 2021 – “Along with their Rolls-Royces, Bentleys and Ferraris to fill their garages, these individuals need their boats and jets,” said an estate agent specializing in luxury properties. “This is seen in the number of enquiries still coming in for homes by the water, or where possible near marinas with ample space to park their yachts. “These days, a Dh100 million home sale is seen as a regular deal – the ‘new normal’ is having developers coming up with Dh200 million plus homes and easily finding a buyer to take possession when the homes are ready in 2-3 years.” It is then natural that their buying would extend to other categories – jets and yachts, being just two – and that’s exactly what businesses are trying to provide. The trend of a growing resident base