According to a new report by Wealth-X and Sotheby’s International Realty, ultra high-net-worth (UHNW) individuals are spending millions of dirhams on Dubai’s luxury properties because it offers excellent value for their money.

Dubai has everything an ultra-wealthy investor may desire, including year-round sunshine, world-class shopping, international sporting events and cosmopolitan lifestyle, but many of its properties can be acquired for approximately $834 (Dh3,000) per square foot, more than three times lower than the average price of an apartment in London.

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