Billionaire Roman Abramovich is looking for a new home in Dubai, Bloomberg reported citing sources. According to him, the businessman is looking for housing on the artificial island of Palm Jumeirah, which is shaped like a palm tree. The UAE is attracting wealthy Russians as one of the few states that have not announced sanctions against them, the agency notes.
Russian billionaire Roman Abramovich is looking for a new home in Dubai, writes Bloomberg, citing informed sources. According to them, the businessman became interested in housing on the artificial island of Palm Jumeirah on the coast of the Persian Gulf, which is shaped like a palm tree. The coastline of the island is dotted with luxurious residences, the agency notes.
One of Abramovich’s private jets was spotted in Dubai in March, Bloomberg notes, citing data from the ADS-B Exchange portal, which tracks aircraft movements. However, it is not known whether the businessman himself was on board the business jet.
Abramovich’s representative, in response to a request from Forbes, said that the businessman is not buying a house in Dubai.
Recently, Dubai has been attracting more and more wealthy Russians, and new states regularly join the sanctions against them, writes Bloomberg. Personal restrictions against Abramovich were previously announced by the European Union and the United Kingdom, but not by the United Arab Emirates. The kingdom even abstained in the UN Security Council vote on a US-led resolution condemning Russia’s “special operation”* in Ukraine, the agency recalls.
“There is an old saying in Dubai: ‘When the region is doing well, we are doing well, but when there is a crisis, we are doing very well,’ Chirag Shah, founder of consulting company 1 International FinCentre Associates, told Bloomberg, who previously was the chief strategist and business development officer for the Dubai Financial Free Zone.
The agency notes that more and more Russians are now interested in real estate in Dubai. Their demand for real estate in Dubai has increased by 40% since the beginning of March compared to the same period in February, wrote Kommersant, citing Golden Brown Group data. According to Kalinka Group, the number of transactions of Russian citizens in Dubai grew by 70% year-on-year.
