Dubai's real estate experts are shifting their attention from millionaires to billionaires, as they concentrate on high-net-worth individuals.

Dubai is witnessing a surge in the sales of ultra-luxurious properties, captivating the interest of exceptionally affluent investors. According to Unique Properties analysis, the first half of the year saw a notable transaction of 176 high-end homes in Dubai's ultra-luxury property segment, totaling AED 3.1 billion ($845 million).

Notably, the premium price range has witnessed the sale of 219 homes within the last year, further solidifying Dubai's status as a prominent player in the global ultra-luxury real estate market. In a report by Knight Frank, a renowned global real estate consultancy, Dubai stands as the fourth most vibrant city globally in terms of ultra-luxury real estate activity.

The city's allure continues to grow, beckoning investors from all corners of the world. Notably, Dubai houses the largest concentration of wealth in the Middle East, boasting a significant population of high-net-worth individuals (HNWIs). Current statistics reveal 68,400 millionaires and 206 centi-millionaires (individuals with a net worth exceeding AED 367 million or $100 million). Additionally, Dubai boasts a remarkable count of 15 billionaires. These figures collectively underline a remarkable 62 percent surge in the number of ultra-high-net-worth individuals (UHNWIs) from 2012 to 2022.

Anticipated growth across the Middle East projects a remarkable 24 percent increase in UHNWIs over the upcoming five years. Consequently, this growth will translate into an upswing in the availability and delivery of luxury residential units. Knight Frank's research indicates that the Middle East currently hosts 9,717 UHNWIs, a number projected to exceed 12,000 by 2026. Most of these affluent individuals are expected to choose Dubai as their primary residence, thereby significantly contributing not only to the city's real estate sector but also to its overall economic dynamics.

Arash Jalili, Founder and CEO of Unique Properties, noted, "Dubai has consistently redefined the benchmarks for global expectations. The city offers expatriates access to supreme luxury properties along with compelling investment prospects for a secure and comfortable lifestyle, ensuring lucrative returns on investment."

Jalili emphasized the shift in focus from millionaires to centi-millionaires and billionaires who now demonstrate interest in investing in opulent villas and penthouses in exclusive locales like Palm Jumeirah and Emirates Hills. Dubai's unwavering commitment to continuous growth and security remains instrumental in attracting the world's wealthiest individuals, fostering a thriving investment environment irrespective of price considerations.