According to a report by Knight Frank, a global real estate firm, Dubai is among the top five cities for businesses men and entrepreneurs as well as families that are relocating.
Major lifestyle factors are key to influencing people’s decisions when relocating or moving according to the Global Lifestyle Review. These factors include cost of living, infrastructure, entertainment, education etc.
While Hong Kong and London led the way, Dubai was the fourth choice for entrepreneurs, alongside Geneva, Sydney and Vienna.
According to Dana Salbak, head of research and associate partner at Knight Frank, Dubai owed political and economic stability as well as its ability to provide luxury lifestyles for high ranking individuals.
“It’s natural to see clients motivated and drawn to [Dubai] ,” she said. “This is of course in addition to the tax-free environment and wide-spread of free zones, which facilitates business and trading activities.”
Dubai also came in fifth for relocating families, tied with Hong Kong, Vienna and Geneva.
“Dubai caters to nearly all family priorities so it comes as no surprise that it’s highly favorable,” said Salbak. “It provides good international-grade education systems, created communities for like-minded people to interact (such as Alserkal Avenue for arts and culture), and offers a variety of family-friendly activities, most of which can be enjoyed with 365 days of sunshine. This is in addition to personal security and safety.”
Knight Frank is a UK based company with offices all over the Middle East including Dubai and Bahrain.