Staff Writer: Khaleej Times
October 18, 2023
With money not being an object and a penchant for travel, centi-millionaires tend to own multiple properties they use throughout the year, and certain cities attract them in high numbers during the peak holiday seasons, depending on whether they are seeking sunshine or the slopes.
According to Henley & Partners’ seasonal cities data released recently, Dubai is among the world’s top 10 cities where centi-millionaires – people who hold $100 million in investable assets – own their second home. Ranked 6th globally, more than 500 centi-millionaires own a second home in the emirate.
Major cities such as New York, Los Angeles, and London, which are all high up on the list of where centi-millionaires have second homes, see their populations expand the most.
New York’s centi-millionaires swelled from 775 to over 1,200 at peak times, while Los Angeles’ rose from 504 to over 950, and London’s more than doubled from 388 to over 800.
“Dubai, is meticulously tailored to lure centi-millionaires and highlight the city’s ambition to become a premier global hub for the world’s financial elite,” says Philippe Amarante, managing partner at Henley and Partners and the head of the firm’s Dubai and Pakistan offices.