What To Know
- This trend is offsetting the crystallisation trend and is resulting in a significant rise in the setting up of foundations and entities associated with well-known family businesses and personalities at the DIFC.
- It is a repository and source which delivers the opportunities and skills at the dual end of UHNWIs and HNWIs required to plan and protect their.
- It is due to this that more and more family offices are being drawn to Dubai and which is setting the foundation for DIFC to become the representative of Central Family Office in the region.
The family offices are becoming popular within a short period, and they contribute to the real estate sector in Dubai based on high-net-worth client solutions. This trend is offsetting the crystallisation trend and is resulting in a significant rise in the setting up of foundations and entities associated with well-known family businesses and personalities at the DIFC.
Speaking on the development, Sachin Kumar Singh, Business Head and Managing Partner at Foremen Fiefdom, a real estate service company based in Dubai stated that: “Appointments of family offices in Dubai are evidencing the acknowledgment on individualized wealth management solutions for successful and prosperity seeking families. It is a repository and source which delivers the opportunities and skills at the dual end of UHNWIs and HNWIs required to plan and protect their
Increased wealth is also shown to drive real estate investments.
The validity of dubai as a city for the rich is underpinned by the World’s Wealthiest Cities And Countrie sReport 2023 which proposed Dubai with about 68,500 HNWIs, 206 centi-millionaires and fifteen billionaires; few of them. The UAE’s favourable climate to business, political stability, and hunger for diversification only serves to strengthen its position as the regional hub for family businesses and investment, especially in the property sector.
According to figures available through this research, DIFC holds approximately 440 registered foundations and over 600 effective connections related to influential family businesses and individuals. It is due to this that more and more family offices are being drawn to Dubai and which is setting the foundation for DIFC to become the representative of Central Family Office in the region.
As a result of increasing focus on climate change and other myriad challenges, there is a growing trend towards the construction of climate-resilient real estate developments.
Following the disasters, particularly extreme weather variations, the real estate firms in Dubai are gradually starting to embrace climate-change responsive architecture in their structures, specifically housing. Singh continued emphasizing on these measures by saying, “This is to ‘climate-proof’ investments in this sector.
Related news:
Eid Al Adha Blessings: Meet UAE’s First Newborns on Eid Bringing Joy to Families
Brand Dubai Launches Guide for Family-Friendly Summer Adventures as Part of #DubaiDestinations Campaign
Top 10 Family-Friendly Restaurants in Dubai: Dining for All Ages
5 Exciting Mega-Projects Set to Transform Dubai’s Skyline
