Report reveals Dubai’s ultra-rich homeowners are young and self-made

Out of the total, 1.4% own private jets and 0.7% own yachts

by Tanvir Awan
Dubai weeklong real estate transactions hit Dhs8.6 billion

Do you know who the richest homeowners in Dubai are? According to a latest report from Altrata Dubai’s 830 richest homeowners are mainly self-made men and are also among the youngest in this group.

Compared to Los Angeles and Monaco, the ultra-wealthy homeowners in Dubai are predominantly male and younger.

Additionally, they mainly own primary residences. Dubai’s group of 830 ultra-high net worth individuals (UNHWs) is the smallest among the three cities, and 91% of them are men. Among the total, 66.7% are primary residents, while 33.3% own secondary homes.

As for their source of wealth, 60.9% of Dubai’s ultra-wealthy homeowners are self-made, and 36.2% have a mix of inherited and self-made wealth. Only 2.9% rely solely on inheritance.

Out of the total, 1.4% own private jets and 0.7% own yachts.

Secondary homeowners in Dubai

The United Kingdom, France and Switzerland are the top three countries of origin for Dubai’s ultra-wealthy individuals who own secondary homes.

Dubai’s ultra-wealthy homeowners primarily come from the banking and finance industry, followed by industrial conglomerates, business and consumer services, construction and engineering, and manufacturing industries, in that sequence.

Among the hobbies and interests of Dubai’s ultra-wealthy homeowners, technology is prominent, ranking behind sports and public speaking, and it is unique compared to the other two cities. Additionally, they enjoy traveling and engaging in philanthropy.

“While banking and finance is the most common (as it is in Los Angeles and Monaco), there is a much larger representation in industrial conglomerates, construction and manufacturing than in the other two cities,” said Altrata.


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