High Net-Worth

High Net-Worth millionaires to invest $409M in Abu Dhabi and $388M in RAK Property market

As per the latest research revealed by Knight Frank, high net worth individuals from across the world are ready to spend a whopping amount of $796.8 Million on residential real estate in the two areas. Those interested in Abu Dhabi are ready to spend $409M and those interested in RAK (Ras Al Khaimah) are ready to spend $388M in the property markets.

This report is entirely based upon a survey conducted on 317 High net worth individuals. Out of the total 317 HNWI’s (High net worth individuals), 217 are from across the world and the remaining 100 are the ones who are based in the GCC (Gulf Cooperation Council) region. The joint net worth of the surveyed respondents is around $5.4 billion and own 1,149 homes across the globe. These 2 destinations are the favourite hot spots for the property buyers or investors in the UAE capital.

According to reports released by Knight Frank, “Even though, Abu Dhabi is not an investment hub for the international buyers, it is a renowned location for the High-net-worth individuals to purchase property.”

It was also discovered that, “Ras Al Khaimah (RAK) (2%) is the fourth most likely property investment destination in the country for HNWIs from across the globe, trailing only with Dubai (67%), Abu Dhabi (23%), and Sharjah (5%).

Source: The post High Net-worth individuals to spend $796.8 Million on Abu Dhabi and RAK Property Markets appeared on zawya.com

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