Wealthy Investors Aim to Invest $800 Million in Abu Dhabi and Ras Al Khaimah Residences

Wealthy Investors Aim to Invest $800 Million in Abu Dhabi and Ras Al Khaimah Residences

By Staff Writer, 13 June 2024

High-net-worth individuals (HNWIs) are gearing up to invest close to $800 million in residential properties in Abu Dhabi and Ras Al Khaimah. According to a new report by Knight Frank, these affluent buyers are eyeing $796.8 million worth of real estate, with $408.3 million allocated for Abu Dhabi and $388.5 million for Ras Al Khaimah.

The data comes from a survey of 317 HNWIs, including 217 global respondents and 100 from the Gulf Cooperation Council (GCC) region. Together, these individuals boast a combined net worth of $5.4 billion and own 1,149 homes worldwide.

Faisal Durrani, Partner and Head of Research for MENA at Knight Frank, highlighted that 40% of the HNWIs are looking to invest in Abu Dhabi primarily for investment purposes. Additionally, 8% intend to purchase a primary residence, and 15% are considering buying a second home in the emirate. The growing interest in Abu Dhabi is partly attributed to the emirate’s "Visit Abu Dhabi" campaign.

Source: Cleofe Maceda / Zawya

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