Dubai and Abu Dhabi have emerged as the top two destinations attracting high net worth individuals (HNWIs) and companies, according to the Savills Dynamic Wealth Indices. A fluid geopolitical and economic environment; changing government policies, taxes and incentives; and quality-of-life factors are increasingly influencing where high net worth individuals and footloose companies choose to locate.
Savills says that personal tax incentives, existing high concentrations of high net worth individuals, and a good quality of life put the cities of Dubai and Abu Dhabi of the United Arab Emirates in the top two positions, followed by Singapore, Zurich and Auckland to make up the top five preferred locations for individuals looking to relocate.
Abu Dhabi among top 5 locations for individuals and corporations
The global real estate consultancy has launched the Savills Dynamic Wealth Indices to identify the cities that are performing well at attracting and developing wealth and investment from individuals and businesses and to highlight some key factors shaping their location decisions.
Singapore, Seoul, New York, London and Abu Dhabi take the top five places for corporate relocations based on their corporate tax and business environments, volumes of foreign direct investment and economies and knowledge bases. This means that Abu Dhabi has ranked in the top 5 for both individuals and corporations looking to relocate, highlighting its range of benefits.
“Abu Dhabi’s sovereign wealth has notably attracted connected family offices and global corporates. In turn, this has stimulated office demand – with new businesses requiring space – and the luxury residential market. Arguably, the push of fiscal policies of other countries has heightened the UAE’s pull,” stated Rachael Kennerley, director of research at Savills Middle East.
HNWI relocation drives Dubai property market growth
The UAE is a particularly attractive option for high net worth individuals who bring their companies with them. It has a dynamic economy that’s diversifying away from oil and attracting growing sums of corporate and sovereign wealth investment.
This has, in turn, boosted real estate transaction volumes and values. Prime residential capital values in Dubai rose by 6.8 percent in 2024, with prime office values growing by 7 percent in Q4 alone. In 2024, the residential sector recorded unprecedented transaction volumes, with a 47 percent year-on-year increase. Of these, over 4,600 units priced above AED10 million were transacted during the year, marking a 23 percent year-on-year increase.
“Against an increasingly changeable geopolitical and economic backdrop, global wealth flows are evolving, as high net worth individuals and businesses adapt their decisions on where to locate,” explained Paul Tostevin, director of Savills World Research.
Tostevin added that traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals, and will continue to play a major role, but a sense of place, and a high quality of living, are progressively the deciding factor when making location decisions.
Read: Dubai, Abu Dhabi achieve top rankings in 2025 smart city index
Corporate and individual priorities overlap
Savills says that six of the top 12 locations feature in both the corporate and individual Dynamic Wealth Indices – highlighting how business and personal priorities can often overlap as businesses want to locate in destinations that can provide the necessary talent to sustain them, following skilled workers who tend to prioritize a better quality of life.
“Cities with a favorable tax regime, strong knowledge and tech base, and stable economic fundamentals attract the best businesses. This, in turn, draws talent and high net worth individuals who seek to capitalize on these incentives and innovations,” stated Ruben Koh, senior director, head, international residential sales, Savills Singapore.
While lifestyle factors appeal chiefly to the individual, the knock-on effects of creating talent clusters – or high net worth individuals bringing their businesses with them when they relocate – make them a magnet for corporate wealth, too.
