The Wealth Report 2018COMMISSIONED BY Lord Andrew Hay EDITORAndrew ShirleyGLOBAL HEAD OF RESEARCHLiam Bailey WRITTEN BY Knight Frank ResearchRESEARCHGráinne Gilmore Anthony Duggan Kate Everett-Allen William Matthews Sophia King Tom Bill Flora HarleyDavid Ji CHIEF ECONOMISTJames Roberts CREATIVE HEAD OF PUBLICATIONSChristopher Agius GROUP PUBLICATIONS MANAGERKate Mowatt HEAD OF CORPORATE COMMUNICATIONSAlice Mitchell PRINTED BY Optichrome ALL KNIGHT FRANK CONTACTS:firstname.familyname@knightfrank Defnitions UHNWIUltra-high-net-worth individual –someone with a net worth of over US$30 million excluding their primary residence HNWIHigh-net-worth individual – someonewith a net worth of over US$1 millionexcluding their primary residencePRIME PROPERTYThe most desirable and mostexpensive property in a given location,generally defined as the top 5% of eachmarket by value. Prime markets often have a significant internationalbias in terms of buyer profile SUB-EDITORLouise Bell, Sunny Creative PHOTOGRAPHYPortraits of Lord Andrew Hay and Liam Bailey by John WrightPortraits of Niall Ferguson by Tom Barnes and Anders Birger COVERRadoslav ZilinskyILLUSTRATIONSStanley Chow SHOUT Stephan Schmitz DATA VISUALISATIONS Nicholas Rapp NOW AVAILABLEViewThe Wealth Reportand properties from around the world on your device today knightfrank/wealthreport Important noticeThe Wealth Report( Knight Frank LLP 2018) is produced for general interest only; it is not defnitive and is not intended to give advice. It must not be relied upon in any way. Although we believe that high standards have been used in the preparation of the information, analysis and views presented inThe Wealth Report , no responsibility or liability whatsoever can be accepted by Knight Frank for the contents. We make no express or implied warranty or guarantee of the accuracy of any of the contents. 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SENIOR PARTNER AND GROUP CHAIRMANAlistair Elliott+44 20 7861 1141alistair.elliott@knightfrankGLOBAL WEALTH ADVISORY Paddy Dring+44 20 7861 1061paddy.dring@knightfrank Rory Penn+44 20 7629 8171rory.penn@knightfrankThomas van Straubenzee+44 20 7629 8171thomas.vanstraubenzee@knightfrank COMMERCIAL PROPERTY ENQUIRIESDeborah Watt+44 20 7861 1678deborah.watt@knightfrank GLOBAL PROPERTY SERVICESLord Andrew HayResidential+44 20 7861 1071andrew.hay@knightfrankAndrew SimCapital Markets+44 20 7861 1193andrew.sim@knightfrank William Beardmore-GrayOccupier Services & Commercial Agency+44 20 7861 1308william.beardmore-gray@knightfrankRupert JohnsonValuation & Advisory+44 20 7861 1284rupert.johnson@knightfrank Global and local insight The Wealth Reportprovides a platform for Knight Frank to examineand assess the global trends that matter to our clients. Behind thismacro picture, our research teams produce a wide range of local marketreports and sector analysis to help our clients identify and understandthe residential and investment opportunities available to them. Leading this process isThe Wealth ReportCity Series, the frst ofwhich was published in 2017 and focused on Melbourne. This year,the second in the series looks at Dubai, providing a comprehensiveoverview of economic, property market and lifestyle trends. The Dubai Edition covers: The impact of the Bureau International des Expositions’ decisionto award the World Expo 2020 to Dubai, making it the frst cityin the Middle East to receive this accoladeCurrent residential market trends – having experienced headwinds in recent years, market performance is moving ina positive direction with annual price growth outstripping regional peers in the 12 months to December 2017Dubai’s expanding role as a hub location for Asia, the MiddleEast and AfricaQuality of life and business rankings – and their impact onproperty market performance.This invaluable guide for anyone considering investing in Dubai isavailable to download at knightfrank To fnd out more about our future plans forThe Wealth ReportCitySeries, contact fora.harley@knightfrank 1 | KNIGHTFRANK THE WEALTH REPORT Welcome to The Wealth Report I n last year’s “Welcome”, I commented that the world appearedto be at a crossroads. Fast forward 12 months, and we arestill waiting for strong global leadership to determine thedirection of travel.The range of events creating political turmoil is more diversethan ever: high-stakes verbal sparring between North Korea andthe US; the EU’s need to help Spain navigate the Catalonian crisisand balance the growing East-West schism over migration; foodsecurity concerns; and ongoing unrest in the Middle East, tomention but a few.Set against this backdrop, the health of the global economysurprised many in 2017 – and is likely to continue to provide moregood news this year. Yet despite positive economic fundamentalsunderpinning many of our markets, reading through this editionofThe Wealth Report 。。。。。。