Beverly Hills of Dubai – level 3
20-12-2023 07:00
In Emirates Hills, dubbed the Beverly Hills of Dubai, wealthy Indians are now outpacing China’s affluent in contributing to global wealth flows.
The district attracts Indian businessmen with its opulent mansions, exemplified by a 2,400-square-meter villa belonging to the founder of Dano Group, a prominent real estate developer. Despite Dano’s establishment in the UAE three decades ago, the family’s increasing prosperity is largely fueled by wealth from India, with rich Indian citizens constituting a significant portion of the firm’s clientele.
The UAE’s alluring combination of easy visa policies, low taxes, and geographical proximity positions it as the primary overseas beneficiary of India’s rising wealth, making it the anticipated top destination for migrating high-net-worth Indians.
Difficult words: affluent (wealthy), opulent (luxurious), alluring (attractive or fascinating), beneficiary (a person or group that receives money or other benefits as a result of something else).
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Which factors make the UAE an attractive destination for high-net-worth Indians, and how does this impact the country's economy?
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