Why Are The Ultra-Wealthy Choosing Dubai For Their Second Homes?

by Jeff DonlanWhy are so many billionaires buying a second home in Dubai?Dubai has not so quietly crept up to number five on the list of cities where the super wealthy acquire residential properties. That means the dessert oasis is beating out cities such as Paris, Miami, and Sydney.Dubai, the largest city in the United Arab Emirates, now enjoys 8,600 multi-millionaire residents.Although the city is known for luxurious high-rises, there is a tremendous wage gap between Dubai’s locals and foreign workers from India, Nepal, and Pakistan. Many of these migrant workers live in congested, unsanitary areas, or work in labor camps tucked in the shadow of the city’s unmistakable skyline.The ultra-rich also pour their money into second homes in more obvious cities like London, New York and Hong Kong. But Dubai is becoming a huge attraction. Because lower taxes? City of the future? We’d have to ask the billionaires. 
The post Why Are The Ultra-Wealthy Choosing Dubai For Their Second Homes? appeared first on Vocativ.