Dubai Doubles Millionaire Numbers, Strengthens Global Wealth Position

Over the past decade, Dubai has undergone a remarkable transformation, evolving into one of the world’s leading destinations for high-net-worth individuals (HNWIs). According to the Henley & Partners World’s Wealthiest Cities Report 2025, Dubai has witnessed a staggering 102% increase in its population of HNWIs, bringing the total to 81,200. This places the Emirate as the sixth-fastest-growing wealth hub globally, trailing only Shenzhen, Scottsdale, Bengaluru, West Palm Beach, and Hangzhou.

Dubai’s ascent in the ranks of global wealth centers has been nothing short of extraordinary. The city has quickly become a magnet for affluent individuals seeking both business opportunities and an enviable lifestyle. The dramatic surge in its ultra-wealthy population has made Dubai a key player in the global wealth landscape, and this trend shows no signs of slowing down.

Dubai: A Haven for the Ultra-Wealthy

Dubai’s transformation is not limited to the increase in millionaires alone. The city now hosts 237 centi-millionaires, individuals with investable assets exceeding $100 million, alongside 20 billionaires. Projections indicate that both Dubai and Abu Dhabi will see their ultra-wealthy populations more than double over the next decade, further cementing the UAE's position as a major global wealth hub.

Abu Dhabi, which currently has 75 centi-millionaires, is also experiencing a similar trend. The growth of the ultra-wealthy population in both cities is linked to several factors that make the UAE a prime location for those looking to preserve and grow their wealth.

Factors Driving Dubai’s Appeal

There are several key drivers behind Dubai’s appeal to the ultra-wealthy, each of which is contributing to the city’s economic expansion and transformation into a global financial powerhouse:

1. Tax Advantages

One of the most significant factors that attract wealthy individuals to Dubai is its favorable tax environment. The absence of income tax and capital gains tax makes Dubai an extremely appealing destination for those seeking to preserve their wealth. Unlike many other global financial centers, where high taxation is often a concern, Dubai offers a tax-free environment that allows ultra-wealthy residents to optimize their financial portfolios. Additionally, Dubai's business-friendly environment and low corporate tax rates further enhance the city’s attractiveness for high-net-worth entrepreneurs and investors.

2. Residency Programs

Dubai has introduced several residency programs aimed at attracting international talent, entrepreneurs, and investors. The 10-year renewable Golden Visa is one of the most sought-after residency options, offering long-term residency for investors, professionals, and their families. This visa provides the opportunity for expatriates to live and work in Dubai indefinitely, further boosting the city’s appeal as a global destination for the ultra-wealthy. The visa program has been a game-changer for many affluent individuals who seek stability, security, and access to Dubai’s exceptional lifestyle.

3. Strategic Location

Dubai’s strategic location between the East and West has made it an important global business hub. The city’s connectivity through world-class airports and seaports allows for seamless access to key markets across Asia, Europe, Africa, and the Americas. Dubai serves as a natural gateway for trade and investment, making it an ideal base for multinational corporations, financial institutions, and high-net-worth individuals. Moreover, Dubai’s business-friendly regulations and cosmopolitan environment create the perfect setting for those looking to tap into global opportunities.

4. Luxury Lifestyle

Beyond its tax benefits and business advantages, Dubai offers a luxury lifestyle that is unmatched. From its opulent hotels and fine dining to world-class shopping malls and exclusive real estate developments, the city caters to the most discerning tastes. The world-famous Palm Jumeirah, Emirates Hills, and Jumeirah Islands have become prime locations for luxury real estate, offering ultra-wealthy residents privacy, exclusivity, and breathtaking views. The city is also home to numerous luxury retail brands, yacht clubs, private beaches, and five-star resorts, all of which make Dubai a desirable destination for those seeking the finest things in life.

Impact on Dubai’s Real Estate Market

The influx of high-net-worth individuals (HNWIs) has had a profound impact on Dubai’s real estate market. Luxury neighborhoods like Emirates Hills, Jumeirah Islands, and Palm Jumeirah have experienced a surge in property demand, driving significant price appreciation in recent years. Over the past five years, luxury property prices in some of these exclusive areas have risen by up to 85%, reflecting the increased demand from both local and international buyers.

Dubai’s real estate market is becoming increasingly attractive to global investors seeking both a place to live and a lucrative investment opportunity. With property prices continuing to rise, the city is attracting not only end-users but also institutional investors looking to capitalize on the growing demand for high-end properties.

In addition to residential properties, there has been an increasing demand for commercial real estate in Dubai, particularly in sectors such as finance, technology, and retail. As the city strengthens its position as a global business hub, commercial property values are expected to continue their upward trajectory.