With the release of a latest report on the distribution of wealth, Dubai has vaulted into the ranks of the richest cities in the world, and takes the 4th spot in the EMEA region for urban centers by wealth.
A City of High-Net-Worth Residents
According to the report from the MCB group, Stewards investment group and the New World Wealth, by June 2025, Dubai had 86,000 millionaires, 251 centi millionaires (people with more than a 100 million of investable assets) and 23 of the world millionaires. The residents invest a whopping 1.1 Trillion dollars (4 trillion dhs) in Dubai, but a large portion of this wealth is not accumulated locally but is spread across foreign financial institutions.
Millionaire Population: Major EMEA Cities
| City | Number of Millionaires |
|---|---|
| London | 212,000 |
| Paris | 163,000 |
| Milan | 121,000 |
| Dubai | 86,000 |
On Track to Top the Rankings
According to modern day analysts, Dubai is on the path to earning the title of richest city in the world by 2040 if they keep to their plans. New World Wealth’s Head of Research, Andrew Amoils, laid out Dubai’s trajectory noting that more and more investors are shifting their focus toward the city. Dubai has also ascended the ranks in levels of importance for global financial markets.
Reasons For The Success Of Dubai
As mentioned by industry leaders, the success of Dubai does not depend on oil alone. The city has purposefully set up its business-Iocations to be as safe as possible. The city has a set of positive offerings, such as:
- low corporate tax
- soaring property rates
- high investment in the healthcare, education, and technology infrastructure
- global-linking ports and airports
- a good reputation for being a safe place to live during geopolitically turbulant times
that are difficult to find in any competing city. “Dubai acts as a bridge between established economies and fast-growing emerging markets,” said Thierry Hebraud, CEO of MCB. Bilal Adam, CEO of Steards Investment, believes that such potential provides Dubai with the ability to attract high value investment from different parts of the world.
WEALTH CAREERS The Transformation Of Dubai
A record wealth has also contributed to a dramatic shift in the population growth of Dubai. For the first time in its history, the population of Dubai has crossed the figure of 4 million, signifying not only immigration but also the city’s ability to attract and retain global talent.
Growing Family Offices
The spike in family offices in Dubai is a signal of the intention to establish family offices in every corner of the world. Investment offices managing money for families with a super high net worth are referred to as family offices. There are over 250 family offices in the UAE most of which are a result of the Covid 19 pandemic and are run by individuals of great wealth from:
- Africa
- India
- Russia
- UK
- Middle East
These offices as seen svlasted are only feasible for centi-millionaires and billionaires which proves how much wealth is pouring in to the emirate.
The Other Side of the Story
It’s important to note that Dubai is not only textually appealing. There is a growing focus on family offices which assist in high net worth mobility. The pace of which Dubai is dominating is a luxurious blend of rest and regulation which is loved by HNW individuals. The aspiration to obtain the title of wealth capital in that area of the world in the next 20 years is within reach provided the recent trends are maintained and protected.
