According to a recent report by Henley & Partners, approximately 4,300 Indian millionaires are projected to relocate to the UAE in 2023, with Dubai standing out as their preferred destination. This migration trend signifies Dubai’s increasing appeal compared to traditional hubs like Australia, Singapore, and the US, particularly due to its vibrant property market and favorable business environment.
In 2022, Indian investments in Dubai’s real estate surged to 16 billion dirhams, nearly doubling from the previous year. This substantial influx highlights the confidence affluent Indians have in Dubai’s property sector, driven by attractive returns and strategic location benefits. Notably, 40% of Dubai’s homebuyers in 2022 were Indian nationals, predominantly from regions such as Delhi-NCR, Ahmedabad, Surat, Hyderabad, and Punjab. This influx is not just limited to property investments; an increasing number of wealthy Indians are also establishing family offices in Dubai, London, and Singapore. These offices serve as strategic bases to diversify investments, protect wealth, and facilitate global business expansion.
Dubai’s appeal is further bolstered by the expansion of the Golden Visa program, which offers long-term residency benefits to professionals, researchers, and investors. This program has attracted a diverse pool of talent and wealth, enhancing Dubai’s reputation as a global business and financial hub. The city’s advanced infrastructure, world-class amenities, and tax-friendly policies make it an attractive destination for both personal and professional endeavors.
Source: India Today