NFAPost,Dubai: As the allure of Dubai for millionaires and investors continues to ascend, Amity Mortgages, a leading financial institution in the UAE, delves into the myriad factors propelling the city’s status as a global hub for wealth and opportunity.
In a statement, Mr. Haider Qureshi, Managing Director of Amity Mortgages, remarked, “Dubai’s unprecedented growth and stability make it an irresistible magnet for investors worldwide. Its blend of economic promise, safety, and innovation sets a new standard for global prosperity.”
Dubai’s appeal as a premier destination for High Net Worth Individuals (HNWIs) has been underscored by its recognition as the top spot globally, attracting 5200 HNWIs in 2022 alone, according to New World Wealth. This influx of wealth highlights Dubai’s reputation as a premier wealth management destination offering diverse investment opportunities.
The city’s population explosion, surging from 1.6 million in 2008 to over 3.6 million by 2023, reflects its rapid development and cosmopolitan appeal. Dubai’s global acclaim was further solidified by its recognition as the No.1 global destination in the Tripadvisor Travellers’ Choice Best of the Best Destinations Awards 2024, marking the third consecutive year of securing the top spot.
Moreover, Dubai’s commitment to safety and security has solidified its position as one of the safest countries globally, fostering a conducive environment for residents and investors alike.
The real estate market in Dubai has emerged as a beacon of growth and prosperity, witnessing a staggering 20% increase in property transactions in the first quarter of 2024. Additionally, remarkably low mortgage rates, as low as 4% for residents and approximately 5.5% for foreign investors, amplify the attractiveness of Dubai’s real estate market.
With financing transactions exceeding cash purchases and mortgages outperforming the market’s overall growth, Dubai’s rapid ascension as a hub for millionaires and investors underscores its unique blend of economic promise, safety, and global interconnectedness.
