Wealth Managers Move to Dubai and Bring Demand
    Area GuideSeptember 17, 20243 min read

    Wealth Managers Move to Dubai and Bring Demand

    Banks, wealth managers and advisers are expanding their Dubai teams. How the growth of the wealth industry is influencing housing and office demand.

    Regional Director, MENA

    20-year veteran of Dubai's property market. Ahmed was instrumental in the development of Palm Jumeirah and Downtown Dubai's residential strategy.

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    Dubai's financial sector is expanding rapidly. International banks, wealth managers, hedge funds and advisory firms are opening or expanding offices in the city, particularly in DIFC. This growth brings highly paid professionals who need homes, and it reinforces Dubai's status as a global wealth hub.

    Why the wealth industry is growing

    • Clients: wealthy individuals relocating to Dubai.
    • Regulation: DIFC's international legal and regulatory framework.
    • Time zone: a bridge between Asian and European markets.
    • Lifestyle: attractive for professionals and their families.

    Effects on housing

    Financial professionals seek prime apartments near DIFC and Downtown, as well as family villas in communities such as Dubai Hills, Jumeirah and the Palm.

    Effects on offices

    Demand for prime office space in DIFC and surrounding areas is very strong, with limited availability.

    Rental market

    High-earning tenants support rents for quality apartments and villas in central locations.

    Considerations for investors

    Properties near financial districts with quality finishes and good management are well positioned for this demand.

    Housing for senior professionals

    Senior financial professionals relocating to Dubai often have specific housing requirements. Many want to be within a short commute of DIFC, which makes Downtown, Business Bay, City Walk, Jumeirah and Za'abeel attractive. Families may prefer villas in Dubai Hills, Jumeirah or the Palm, with good schools nearby. Security, privacy and quality finishes are priorities, and many prefer ready homes that require little work. Some companies provide housing allowances that set budgets for rental homes. Landlords with high-quality, well-located properties can benefit from this demand, particularly if they offer flexible lease terms and responsive management. Investors should consider proximity to financial districts when targeting this tenant group.

    Our view

    The growth of the wealth industry is a strong support for prime housing demand. We help investors position for it and professionals find suitable homes.

    Financial sectorDIFCDemand