• Dubai is now home to 206 centi-millionaires and 15 billionaires

Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, cites another milestone for Dubai’s property sector with 176 high-end property units valued at a total of AED 3.1 billion sold during the first half of 2023. Over the last year or so, we have witnessed 219 homes sold for the same price range, making Dubai the fourth most active city in the world for ultra-luxury real estate, according to data from global real estate consultancy Knight Frank.

The city continues to solidify its top spot and improve on its positioning of having the largest population of wealth residing in the Middle East. Recent data indicates that there are 68,400 millionaires, 206 centi-millionaires (individuals with a net worth of at least AED 367 million), and 15 billionaires, highlighting a 62% increase in the number of UHNWIs (ultra-high-net-worth individuals) from 2012 to 2022. Across the Middle East, UNHWI growth is expected to surge 24 percent over the next five years with Dubai being a primary catalyst. In turn, the supply and delivery of luxury residential units will also see a notable uptick.

Knight Frank also reported that 9,717 UHNWIs are currently based in the Middle East and this figure is expected to reach over 12,000 by 2026, with the majority of these individuals heading to Dubai as their primary residential option and contributing to not only the city’s property sector but also its overall economy.

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, commented: “Dubai has continued to push the boundaries of what people can expect when they come here from all over the world. The city provides expats with both top luxury units and strong investment opportunities for a comfortable and safe lifestyle, while also ensuring a good return on investment for their money. As the city continues to cement itself as the top destination in the Middle East and a preferred destination for the world’s highly-affluent, we are no longer looking at millionaires entering the market; our attention has now also shifted to focus on centi-millionaires and billionaires who are looking to invest in luxury villas and penthouses in high-end areas, such as Palm Jumeirah and Emirates Hills. The city’s commitment to constant growth and security will continue attracting the world’s richest to come and invest here regardless of the price.” 

Through its team of multilingual, international and experienced consultants, Unique Properties has been contributing to the growth of the sector by offering a range of services through both its off-plan projects, as well as a vast number of properties for sale and leasing. In 2022, Unique Properties contributed 2% to the total “off-plan” sales volume of Dubai and around 1% to the overall real estate sales in Dubai.

About Unique Properties:

Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. It is one of the most reputable and multi-award-winning real estate companies in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2022, Unique Properties contributed 2% to the total “off-plan” sales volume of Dubai and around 1% to the overall real estate sales in Dubai. Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients. Learn more about Unique Properties at https://www.uniqueproperties.ae/en/

For all media inquiries contact:
Aaron Illathu | Karim Geadah | Jinaan Hameer | Dushane Solomon
Atteline
E-mail: uniqueproperties@atteline.com