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Centi-millionaires in Dubai, Abu Dhabi and Riyadh to surge by 150%

Dubai, Abu Dhabi and Riyadh are now some of the world’s super-rich hotspots to watch, with their centi-millionaire communities poised for explosive growth, according to a new report.

The number of residents who have liquid investable assets of $100 million or more is forecast to more than double or grow by more than 150% in the three Gulf cities over the next 16 years (to 2040), migration advisors Henley & Partners said in its Centi-Millionaire Report 2024.

Dubai, with its 212 centi-millionaire population, currently ranks 15th in Henley’s top 50 Cities for Centi-Millionaires, while Abu Dhabi ranks 50th with its super-rich population totalling 68. Riyadh ranks 51st, just behind the UAE capital, with its centi-millionaire community of 67 individuals.

The three GCC cities, along with Asia’s Hangzhou, Shenzhen, Taipei and Bengaluru, are considered the “centi city hotspots” to watch, the report said.

“[These cities are] forecast to enjoy growth of over 150% in their centi-populations over the next 16 years,” the report said.

“Several Asian and Middle Eastern cities are poised for explosive growth… Emerging markets are also set to make their mark.”