A recent study projects that between 2024 and 2040, there will be a more than 150% increase in the number of centi-millionaires expected to relocate to the United Arab Emirates (UAE), with Dubai, Abu Dhabi, and Sharjah experiencing the biggest increases.
The Centi-millionaire Report 2024, released by Henley and Partners and New World Wealth, states that there are 212 centi-millionaires living in Dubai, which is ranked 15th out of the top 50 cities, and 68 centi-millionaires living in Abu Dhabi, which is ranked 50th.
There will be a notable surge in the number of these incredibly wealthy individuals moving to Sharjah, which is already home to eleven centi-millionaires, during the same period.
Those with liquid investable assets worth at least $100 million (Dh367 million) are considered centi-millionaires.
Dubai and Abu Dhabi are the only other Arab cities to appear in the top 50.
Since the pandemic, the United Arab Emirates (UAE) has attracted a large influx of high-net-worth individuals (HNWIs) and millionaires due to its excellent healthcare system, esteemed universities, low income tax, strong air connectivity, ease of doing business, and high levels of safety and security.
Interestingly, Henley and Partners’ list of the 20 most expensive cities for centi-millionaires did not include any cities in the United Arab Emirates.
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