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Residential property values in top UAE markets down in 2020
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Buyers to benefit as 80% of UAE property market to remain at 2020 price levels: Knight Frank
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Dubai: COVID-19 did have an impact on the UAE’s super-wealthy, shrinking the size of their assets and the funds they could invest. Much the same happened in Qatar – but Saudi Arabia was the exception and actually recorded an increase in the ranks of those who had assets of those with $30 million and more.
These are according to the latest findings by the UK-based real estate consultancy Knight Frank in its annual
The Wealth Report, which released on Wednesday (February 24).
So, last year, there 1,305 ‘ultra-high networth individuals’ (UHNWIs) in the UAE, which Knight Frank defines as those who hold $30 million plus in assets or funds they can deploy in picking up new ones. But that’s against 2019’s tally of 1,663 individuals who had that kind of wealth.
RIYADH: The number of ultra-high-net-worth individuals (UHNWIs) those with $30 million or more in Saudi Arabia surged 227 percent over the last five years, the fastest growth rate in the world. According to The Wealth Report by real estate consultancy firm Knight Frank, the number of UHNWIs worldwide will increase by 27 percent in the next five years to 663,483, with the
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