AMEINAH ALZEYOUDI (ABU DHABI)
Abu Dhabi and Dubai have emerged as an attractive option for centi-millionaires, a term used to describe individuals with liquid investable assets of $100 million or more, according to the Centi-Millionaire Report 2024 published by British wealth and investment migration advisors Henley & Partners with data from New World Wealth, a global wealth intelligence firm based in South Africa.
Abu Dhabi and Dubai are the only Arab cities that made it to the Top 50 Cities for centi-millionaires.
With 212 centi-millionaires, Dubai ranked 15 on the list while Abu Dhabi came in 50th with 68 centi-millionaires, according to the report.
Meanwhile, Sharjah with 11 centi-millionaires, was listed on Cities to Watch list for wealth hubs for companies operating in the luxury goods, wealth management, and hi-tech spaces.
The report indicated a significant growth in the number of ultra-rich individuals in Dubai and Abu Dhabi by more than 150 percent until 2024.
This growth comes within the framework of global economic transformations, as Asian and Middle Eastern cities witness a remarkable boom in their attractiveness to these individuals.
The US and China remain the two main forces in attracting the wealthy globally.
Abu Dhabi tops the list of cities to watch in the World’s Richest Cities 2024 report, with a 75 percent growth in millionaires between 2013 and 2023.