The global real estate advisor through the Resilient Cities Index tested cities’ ability to stand firm or adapt the technological, demographic, and leadership disruption facing global real estate today and in 10 years’ time.
More importantly, the study rated that Abu Dhabi and Dubai will remain the most resilient cities event 10 years later until 2028.
Data showed that Abu Dhabi and Dubai are – and will remain – among the top 30 most resilient cities. The UAE capital is currently rated 22nd most resilient city globally and it will retain that ranking till 2028. It was rated 25th a decade ago.
The managing director of Wealth Monitor, Arshad Khan, said one key thing for any country is to keep up with the competition and clearly the UAE is good at adapting and embracing modern technologies and innovative approaches.
He applauded the UAE’s leadership’s for bringing the country at par with the world’s best cities and countries in socio-economic status.
The study may indicate that investors interested for long-term returns should look to Middle Eastern, Indian and second-tier Chinese cities, as the markets that are likely to grow in spite of global disruption in the next decades, but today remain relatively unmoved.
The report specifically pointed Riyadh and Jeddah as among the eight “challenger cities” that will step up in the ranking in the next decade. The top four most resilient cities today are New York, Tokyo, London, and Los Angeles and will remain so in 2028 according to Savills.
Simon Hope, head of global capital markets at Savills said, “The list of the world’s top global cities may feel like it’s almost set in stone, but, as is becoming apparent, disruption is on the menu and we are set to see some sweeping changes to the way society functions and how businesses operate in the next 10 years”.