Dubai still attracts the ultra-rich: Report

Dubai has ranked eighth among cities most important for ultra-high-net-worth individuals.

The property market may be cooling off, but Dubai still ranks among the top 10 "important cities" this year for "ultra-high-net-worth individuals" (UHNI). Topping the list just issued by Knight Frank in its latest Wealth Report are London, New York and Hong Kong. Dubai is in the eighth spot.

Gulf News reported that Dubai is ahead of Beijing and Zurich but comes behind Singapore, Shanghai, Miami and Paris as the choice cities of the uber-rich (Knight Frank defines this as anyone who has $30 million (Dh110 million) worth of assets). Dubai is believed to have seen a 5% increase in its UHNI population in 2014.

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