In its 2024 Private Wealth Migration report, the firm suggested that the influx of millionaires from India, the wider Middle East, Russia, Africa, the UK and Europe meant the UAE was expected to attract nearly twice as many millionaires as its nearest rival, the US. Dubai is now the busiest market globally for residential property worth more than $10 million, according to real estate consultancy Knight Frank. “Over the last 50 years, Dubai has built up such a reputation as a global hub for luxury … and the global wealthy, they’ve been actively targeting the most expensive homes in Dubai,” said Faisal Durrani, head researcher at Knight Frank Middle East.
