Dubai ranks 4th wealthiest city in EMEA with $1.1 trillion wealth
Home to 86,000 millionaires, the emirate’s liquid wealth reaches Dh4 trillion
DUBAI – A booming economy, global investor inflows and a rising population have positioned Dubai as the fourth wealthiest city across Europe, the Middle East and Africa (EMEA), according to a new report.
The emirate is now home to 86,000 millionaires, 251 centi-millionaires and 23 billionaires as of June 2025. Dubai’s total liquid investable wealth stands at approximately $1.1 trillion (Dh4 trillion). Experts predict that if current trends continue, the emirate could surpass London, Paris and Milan to become EMEA’s wealthiest city by 2040.
What’s driving Dubai’s rise?
Several factors underpin Dubai’s climb in global wealth rankings. The report The Rise of Dubai – by MCB Group, Stewards Investment Capital and New World Wealth – highlights its status as a safe haven, tax advantages, strong foreign direct investment inflows, and an increasingly diversified economy spanning real estate, finance, technology, tourism, healthcare and media.
Property prices have soared in affluent districts, now averaging more than $12,000 per square metre, comparable to Milan and Cannes. Meanwhile, Emirates Airline offers direct access to global financial centres, reinforcing Dubai’s role as a strategic base for high-net-worth individuals.
According to Andrew Amoils, head of research at New World Wealth, many wealthy residents continue to invest globally while residing in Dubai, drawn by its lifestyle, international schools, healthcare and leisure opportunities.
How fast is wealth growing?
Over the past decade, Dubai’s total investable wealth has grown by 110 per cent, placing it among the world’s five fastest-growing wealth hubs. More than 35,000 high-net-worth individuals have relocated to the UAE in the past ten years alone, with many choosing Dubai as their preferred base.
The emirate is also becoming a technology powerhouse, now home to 6,700 tech millionaires and five tech billionaires, with numbers expected to double within a decade. Dubai’s competitive tax structure, combined with its appeal for entrepreneurs in crypto, fintech and software, is accelerating this trend.
Where does new wealth flow?
Dubai has also emerged as the fastest-growing family office hub worldwide, with at least 250 established in the city as of mid-2025. Most were founded after Covid-19 by ultra-wealthy individuals from Africa, India, Russia, the UK, the Middle East and CIS states.
These family offices often manage not only investments but also properties, cars, travel and even personal administration for centi-millionaires and billionaires.
Alongside wealth creation, Dubai’s population reached a historic milestone of 4 million in August 2025, more than doubling since 2011. This surge reflects its growing appeal to professionals, investors, retirees and digital nomads seeking both opportunity and quality of life.