Dubai's Beverly Hills, The Go-To Destination For Rich Indians. Here's Why
NDTV
For years, China's rich have dominated global wealth flows but Dubai now offers one of the earliest signs yet of the potential impact India's new millionaires and affluent families can have overseas.
Adel Sajan is witnessing one of the biggest booms his firm has ever seen, as a flood of wealthy Indians snap up $250,000 apartments in the luxury Dubai skyscrapers built by his family.
His family's own home is a 26,000-square-foot villa in Emirates Hills - a gated residential neighbourhood often dubbed the Beverly Hills of Dubai. "I think every second house is an Indian house over here," the 34-year-old managing director of Danube group said in an interview at his mansion, where the marbled living room is the size of a mini soccer field and the glass-walled garage shows off more than 15 cars, from Bentleys to Range Rovers and Lamborghinis.
The Sajans aren't new money, but the family's growing wealth and business are now being fueled heavily by money flooding in from the subcontinent. Indians make up 32 per cent of the firm's customers in the UAE, and they are contributing to some of the largest gains for Danube since Adel's father founded it in the United Arab Emirates three decades ago.
