Top UAE hotspots for African billionaires

At a Glance

African elites favor Dubai’s Palm Jumeirah, Emirates Hills, and Downtown for exclusive villas, beach access, and proximity to luxury retail and business hubs.
UAE tax advantages and elite infrastructure make it a top choice for African billionaires seeking to establish family offices and diversify global investment portfolios.
From Abu Dhabi to Ajman, African tycoons are expanding beyond Dubai into emerging luxury enclaves like Saadiyat Island and Al Zorah for privacy and investment appeal.

The United Arab Emirates—especially Dubai—has emerged as a top destination for Africa’s wealthiest, drawn by its luxury lifestyle, tax advantages, world-class infrastructure, and strategic location.

Over the past decade, African billionaires and high-net-worth individuals have deepened their presence in the UAE through investments in luxury real estate, hospitality, and private capital.

Dubai Hills Estate stands out for its serene golf-course setting and access to elite schools, favored by Nigerian and South African elites.

Palm Jumeirah, famed for its beachfront mansions, and Downtown Dubai, anchored by the Burj Khalifa, are also top choices. Emirates Hills, dubbed Dubai’s “Beverly Hills,” offers unmatched exclusivity and has attracted a surge of African tycoons.

Other elite enclaves include Business Bay, Jumeirah Bay Island, Dubai Marina, Al Barari, Jumeirah Golf Estates, and Abu Dhabi’s Saadiyat Island—an emerging hub beyond Dubai.

These addresses offer more than prestige—they serve as strategic bases for African billionaires building global business empires from the Middle East.

Here are 10 prime UAE hotspots where African billionaires live, invest, and operate as chronicled by Shore Africa:

1. Palm Jumeirah, Dubai

An iconic man-made island known for its luxury villas and apartments.
Notable figures include:
Atiku Abubakar: Nigeria’s former Vice President, is linked to a three-bedroom flat valued at approximately $1.23 million in the Palm Tower, Palm Jumeirah.
Attahiru Bafarawa: The former Governor of Sokoto State, Nigeria, has a real estate asset located in Palm Jumeirah, valued at around $750,112.

Isabel dos Santos: Once Africa’s richest woman, Angolan businesswoman Isabel dos Santos has been based in Dubai since 2017 and owns property on Jumeirah Beach, in proximity to Palm Jumeirah.

Yasseen Mansour: An Egyptian billionaire and part owner of the Mansour Group, Yasseen Mansour is involved in real estate through Palm Hills Developments.

Suleiman Shahbal: Kenyan businessman and politician Suleiman Shahbal, founder of GulfCap Group of Companies, has significant business interests in the Gulf region.

2. Emirates Hills, Dubai

Emirates Hills, often dubbed the “Beverly Hills of Dubai,” is a prestigious gated community known for its opulent villas and elite residents. Among its notable inhabitants are several African billionaires and high-net-worth individuals who have established homes, businesses, or investments in this exclusive enclave. This gated community offers bespoke mansions and is home to several high-net-worth individuals, including African business magnates.

Sunil Vaswani (Indian-born Nigerian Billionaire), Chairman of the Stallion Group, Sunil Vaswani is a Nigerian billionaire with a significant presence in Emirates Hills. His mansion boasts luxurious amenities, including an indoor aviary, nightclub, and casino.

Femi Otedola: Nigerian billionaire businessman and philanthropist, Femi Otedola has diversified investments spanning energy, shipping, and real estate. He owns properties in Dubai, including in Emirates Hills, reflecting his international investment footprint.

Priven Reddy (South Africa) South African entrepreneur Priven Reddy, founder of multiple tech companies, has established his base in Dubai.

3. Jumeirah Bay Island, Dubai

Jumeirah Bay Island, often dubbed “Billionaires Island,” has emerged as a premier destination for ultra-high-net-worth individuals, including several prominent African billionaires. It has attracted African elites like Angolan billionaire Isabel dos Santos has been based in Dubai since 2017 and owns property on Jumeirah Beach

4. Downtown Dubai

Home to the Burj Khalifa and Dubai Mall, this area is a hub for luxury living and business, with properties owned by affluent Africans seeking urban sophistication. Several prominent African billionaires and politically connected individuals have established residences, businesses, or family offices in Downtown Dubai, drawn by the city’s favorable tax regime, luxury real estate offerings, and strategic location. Here are some notable figures:

Aliko Dangote (Nigeria) Africa’s richest man, Aliko Dangote, is establishing a family office in Dubai to diversify his investments beyond the continent. His daughter, Halima Dangote, relocated to Dubai in 2024 to oversee the office, which operates from a property the family has owned for 17 years.

Femi Otedola (Nigeria) Nigerian billionaire Femi Otedola owns properties in Dubai, among other global cities. His investments span various sectors, including energy, shipping, and real estate.

Teodoro Nguema Obiang Mangue (Equatorial Guinea) The son of Equatorial Guinea’s president, Teodoro Obiang, owns a villa in Dubai valued at €3.6 million. His uncle, Candido Nsue Okomo, also holds properties worth €14.5 million in the emirate.

5. Dubai Hills Estate

A master-planned community featuring upscale villas and golf courses, appealing to African investors desiring a blend of luxury and tranquility.

6. Business Bay, Dubai

A central business district with high-rise offices and residences, attracting African entrepreneurs and investors for its commercial opportunities.

7. Dubai International Financial Centre (DIFC)

A leading financial hub offering a conducive environment for African businesses and investors to operate within the UAE.

8. Al Zorah, Ajman

A luxury development featuring beachfront properties and a championship golf course, appealing to African investors seeking exclusivity outside Dubai.