Dubai and Abu Dhabi ranked among the world’s top 10 locations for attracting and retaining the next generation of wealthy individuals, according to a new index from property consultancy Savills.

The two UAE cities were among only four locations across Europe, the Middle East and Africa (EMEA) to feature in the top 10 of the Savills Next Generation Wealth Hubs Index, part of its Spotlight on Wealth Trends report.

The index analysed more than 100 destinations, focusing on high-net-worth individuals under 40 who have recently made or inherited their wealth.

It assessed four broad categories: business, governance and connectivity; wealth clusters and local environment; wealth management and taxation; and lifestyle.

New York topped the rankings, followed by Miami, London, San Francisco and Los Angeles. Singapore ranked sixth, making it the highest-placed Asia Pacific location. London led the EMEA rankings, with the region accounting for 16 of the global top 30.

“An estimated $84tn is expected to transfer between generations over the next two decades,” said Kelcie Sellers, associate director at Savills World Research.

“As this wealth passes to a younger, more globally mobile and digitally connected generation, priorities are evolving, with lifestyle, education, wellness, and personal values increasingly influencing where they choose to live, invest and establish their business.”

Dubai and Abu Dhabi offer favourable tax environments

Savills said Dubai and Abu Dhabi combined favourable tax environments, business-friendly policies and infrastructure investment with luxury offerings.

Dubai’s entrepreneurial ecosystem, international connectivity and lifestyle continued to attract talent and capital, while Abu Dhabi’s growing financial centre, rising number of family offices and expanding economic opportunities strengthened its appeal, the report said.

“Dubai and Abu Dhabi’s place in the global top 10 reflects how the UAE’s proposition has evolved to meet the priorities of the next generation of wealth,” said Rachael Kennerley, director of research at Savills Middle East.

Across the GCC, succession planning was becoming more prominent, with families placing greater emphasis on governance, involving the next generation and deploying capital within the region over the long term, she said.

Sporting events also contributed to the cities’ lifestyle appeal. Among the locations analysed, Dubai and London hosted the highest number of prestige sporting events each year, including major golf tournaments and ATP tennis, according to Savills. Abu Dhabi hosted Formula 1 and major golf events.

The report said changing preferences around wellness, privacy, education and global connectivity were supporting demand for branded residences, wellness-led developments and turnkey properties that enable internationally mobile buyers to move between homes and jurisdictions.

Read: Abu Dhabi, Dubai among top emerging data centre markets, reveals report

UAE telecom operator du has launched what it describes as the world’s first commercial end-to-end U6GHz connectivity service, using commercially available customer premises equipment (CPE) on its live 5G+ network.

The deployment uses 350 MHz of contiguous spectrum in the 6775–7125 MHz band, connecting the network to customer equipment such as internet routers used in homes and businesses, a WAM report said.

Read-New boost for entrepreneurs in UAE: du brings digital-first connectivity to ‘SME in a Box’

U6GHz is expected to provide additional capacity for enhanced mobile broadband, next-generation fixed wireless access (FWA), cloud-based artificial intelligence applications and immersive digital services. The technology could also support growing connectivity demands across businesses and industries.

du points to next phase of network development

Saleem Alblooshi, chief technology officer at du, said the commercial service would open up opportunities for consumers, businesses and emerging digital applications.

“Today, we are bringing U6GHz into the hands of customers through a fully integrated commercial service, and unlocking new opportunities for consumers, businesses and emerging digital applications,” Alblooshi said.

He also credited the Telecommunications and Digital Government Regulatory Authority (TDRA) with supporting the rollout through its spectrum strategy and backing for next-generation technologies.

“This achievement reflects our commitment to turning innovation into customer value while reinforcing the UAE’s leadership in advanced connectivity,” he said.

Technology lays groundwork for 6G

The launch moves U6GHz beyond network testing and into a commercial deployment connecting infrastructure with customer equipment. It also provides a potential pathway for operators to expand capacity as demand for data-intensive services increases.

du said the development would support the evolution from 5G-Advanced, also known as 5G+, towards future 6G networks.

The rollout aligns with the UAE’s ambitions to strengthen its position in next-generation connectivity and expand its digital infrastructure to support artificial intelligence and wider digital transformation.

The company did not disclose further details on customer availability, pricing or plans for expanding the service.

Dubai’s Global Village will open its doors for Season 31 on Wednesday, October 14, at 6pm, introducing new attractions, entertainment and dining experiences as the destination builds on its 30-year legacy.

Running until May 2027 under the theme A More Wonderful World, the new season will feature 29 pavilions representing more than 90 cultures, over 3,500 shopping outlets, more than 250 dining options and over 200 attractions.

The Dubai Holding Entertainment destination will also host 40,000 shows throughout the season, featuring music, dance, acrobatics and family entertainment.

Fernando Eiroa, chief executive officer of Dubai Holding Entertainment, said: “Global Village holds a special place in people’s lives because of the connections they make here, with their own roots, with other cultures and the people they visit alongside. It has become a much-loved tradition for families and friends, reflecting the welcoming, multicultural spirit of the UAE.”

He added: “As we open Season 31, we are delighted to welcome guests back to the tastes, traditions and experiences they love, while giving them new opportunities to explore and discover together.

Above all, we want every guest to feel that they belong and to leave with memories that stay with them long after their visit and inspire them to return.”

Global Village Season 31 opening celebrations

The opening evening will feature a special programme of celebrations, beginning with a choir performance followed by the Parade of the World, showcasing cultures from across the globe.

Visitors can also expect Global Village’s signature confetti shower at the Gate of the World, alongside entertainment and photo opportunities.

A highlight of the opening celebrations will be a drone show featuring 600 drones, marking the start of the new season with an aerial display.

New attractions and cultural experiences

Season 31 introduces refreshed experiences at the Sri Lanka Pavilion and the Russia and Azerbaijan pavilion, while the Syria and Kuwait pavilions will feature renewed façades.

A redesigned Season 31 Passport and a new Kids Passport will allow visitors to collect stamps as they explore the destination’s cultural pavilions.

Among the major attractions is Tokyo Rush, a new roller coaster scheduled to debut later in the season, featuring sharp turns, high-speed action and a loop.

Returning attractions include Dragon Kingdom, The Horror Hotel, Secrets of the Lost City and Exo Planet City.

The Festival Wheel will also return with refreshed carts, offering panoramic views of the destination, while the Gardens of the World has been updated for the new season.

New restaurants and dining options

Global Village is expanding its food and beverage offering with several new restaurants and cafés.

New additions at Restaurant Plaza include Trabzon Turkish Restaurant, Robo Al Sham, Hawawshi Al Rabie and Chicking.

The dining destination, located next to Carnaval and overlooking the Falcon Stage, combines restaurants with live entertainment.

New cafés include Vinci Dolci, Emir Bey Gourmet and Uzungol Café, while Dessert District returns with a refreshed façade and an expanded selection of sweet treats.

The additions form part of Global Village’s wider dining offering, which comprises more than 250 options spanning international street food, restaurants and cafés.

Global Village announces new entertainment shows

The destination will present 40,000 shows during Season 31, including new productions and returning favourites.

Among the new attractions is Fast Live 2: The Police Strike Back, a stunt show featuring high-energy action and driving manoeuvres.

New productions Bollywood Idol and Bank Heist will also join the entertainment programme, alongside the returning show Slam.

For younger visitors, characters from Care Bears and PJ Masks will return to the Kids Theatre.

Parking and guest facilities upgraded

Global Village has also introduced several improvements to its parking, ticketing and visitor facilities.

These include a new VIP parking self-payment system, enhanced directional signage and expanded ticketing capacity at Happiness Gate to improve visitor flow.

Additional family washrooms, including accessible facilities for People of Determination, have also been introduced.

Other improvements include bilingual signage at the Gate of the World, upgraded lighting at Cultural Gate and a refreshed theme for the Sharjah tunnel.

A new WhatsApp chatbot will provide visitors with access to information and assistance throughout their visit.

Global Village Season 31 timings and tickets

Global Village will operate from 4pm to midnight from Sunday to Wednesday, and from 4pm to 1am from Thursday to Saturday and on public holidays.

The opening day on October 14 will begin at 6pm.

Tuesdays will continue to be reserved exclusively for families and ladies, except on public holidays.

Tickets are available through the official Global Village website, mobile app and ticket counters at all gates.

Season 31 will run until May 2027, bringing together international cultural experiences, retail, dining and entertainment as Global Village continues to develop its position within Dubai’s tourism and leisure sector.

An Air India flight travelling from Frankfurt to New Delhi was diverted to Jaipur on Wednesday, October 14, following a reported hijacking alert, triggering an emergency response by Indian aviation and security authorities.

Flight AI2030, operated by a Boeing 787-9 Dreamliner, landed safely at Jaipur International Airport at approximately 9.35am local time, with all 306 passengers reported safe, according to airport officials cited by The Indian Express.

The aircraft was subsequently moved to a designated isolation bay, where security personnel began inspecting the plane, screening passengers and examining luggage.

What triggered the Air India hijack alert?

According to preliminary reports, the aircraft’s pilot briefly transmitted transponder code 7500, internationally recognised as a signal indicating unlawful interference with an aircraft, including a possible hijacking.

The alert was reportedly transmitted while the aircraft was operating within the Mumbai Flight Information Region and was received by air traffic control, prompting the diversion to Jaipur.

However, preliminary indications suggest that the hijack alert may have been transmitted accidentally.

Jaipur airport head Charan Singh said the signal might have been issued by mistake, although an investigation was underway to establish the circumstances surrounding the incident.

Security agencies launch investigation

Following the emergency landing, personnel from the Central Industrial Security Force (CISF), local police and the Bomb Detection and Disposal Squad were deployed to inspect the aircraft and passengers’ belongings.

India’s Anti-Terrorism Squad was also involved in the security response, while the National Security Guard was reportedly placed on standby in New Delhi.

Initial reports had suggested that the diversion followed a bomb threat. However, an airport official subsequently told Hindustan Times that the alert concerned a suspected hijacking rather than a confirmed bomb threat.

The precise circumstances surrounding the alert remain under investigation, and authorities have not confirmed that an actual hijacking attempt occurred.

Passengers evacuated safely

All passengers and crew members were safely deplaned under security supervision and moved to a designated holding area at the airport terminal.

Airport authorities said the situation was under control and that arrangements would be made to transport passengers to their destinations in accordance with standard operating procedures.

According to NDTV, passengers were being offered complimentary rescheduling options or full refunds in the event of cancellations.

Air India had not issued a detailed public statement explaining the cause of the alert at the time of reporting.

The incident highlights the stringent security protocols governing international aviation, where the transmission of an emergency transponder code can trigger immediate coordination between air traffic control, airport operators and national security agencies.

Investigations are continuing to determine whether the alert resulted from a technical issue, human error or a genuine security concern.

Former UAE-based businessman BR Shetty, founder of NMC Healthcare and UAE Exchange, has filed a $15bn lawsuit against India’s state-owned Bank of Baroda and 25 other defendants, alleging their involvement in financial irregularities that contributed to the collapse of his healthcare empire.

The lawsuit, filed in the Bombay High Court, accuses the lender and several current and former officials of facilitating fraudulent transactions, concealing liabilities and pursuing Shetty over personal guarantees that he claims contained forged signatures.

Shetty is seeking $5bn in direct damages, $5bn in consequential damages and a further $5bn for alleged reputational harm. The lawsuit also seeks interest of 18 per cent annually on the first $10bn claimed.

The defendants include Bank of Baroda officials, former NMC executives Prasanth Manghat and Promoth Manghat, and several associated individuals and companies.

Bank of Baroda responds to allegations

Bank of Baroda said on Wednesday, October 14, that it had not been formally served with the lawsuit and could not comment on allegations that had not been tested in court, Rueters stated..

“The Bank has not been served with such a suit and cannot comment on the contents of pleadings which are untested in court,” the lender said in a stock exchange filing.
“If and when the Bank is served, the Bank will defend the suit firmly and take all steps necessary to protect its interests.”

The bank also confirmed that it was pursuing recovery and enforcement proceedings against Shetty in India and the UAE for outstanding dues of approximately INR28bn ($295m), adding that it had obtained several legal decrees against him.

Bank of Baroda shares fell 2.6 per cent on Tuesday following reports of the lawsuit.

Allegations of financial misconduct

According to court filings cited by Indian media, Shetty alleges that Bank of Baroda officials facilitated the diversion of funds through accounts associated with purported suppliers and failed to investigate suspicious transactions.

The lawsuit claims the bank ignored more than 100 internal anti-money laundering alerts and processed transactions involving allegedly forged signatures and unauthorised instructions.
Shetty also alleges that certain bank officials helped conceal corporate borrowings from auditors and permitted transactions that misrepresented the financial position of NMC group companies.

The allegations have not been established by a court.

NMC Health’s $6.6bn debt crisis

The legal action marks another development in the fallout from the collapse of NMC Health, once the UAE’s largest private healthcare provider and a constituent of London’s FTSE 100 index.

Founded by Shetty, the healthcare group entered administration in April 2020 after financial irregularities and previously undisclosed borrowings came to light.

According to Reuters, its debt was subsequently estimated at approximately $6.6bn, significantly higher than earlier reported figures of $2.1bn.

The collapse triggered investigations, creditor claims and legal proceedings across multiple jurisdictions, including the UAE, UK and India.