Dubai Emerges as Fourth-Wealthiest City in Middle East and Africa
Dubai’s rapid economic growth and rising investor confidence have placed it among the world’s wealthiest cities, now ranking as the fourth-richest city in the Middle East and Africa (EMEA) region—trailing only London, Paris, and Milan.
According to The Rise of Dubai report, released by MCB Group, Stewards Investment Capital, and New World Wealth, the emirate is home to 86,000 millionaires, 251 centi-millionaires, and 23 billionaires as of June 2025. The city’s total liquid investable wealth has reached $1.1 trillion (Dh4 trillion), though a significant share of these assets is still held overseas.
Experts predict that if current trends continue, Dubai could become the wealthiest city in EMEA by 2040. London currently leads with 212,000 millionaires, followed by Paris with 163,000, and Milan with 121,000.
Dubai’s success is credited to its role as a global business hub, with strong regulation, advanced technology, and strategic connectivity. Industry leaders highlight the emirate’s unique investment opportunities, safe-haven reputation, tax-friendly environment, growing property market, high-quality healthcare and education, and sustainable development initiatives.
The city’s prosperity has also fueled population growth, with Dubai surpassing the 4 million population mark last month—the highest in its history.
In addition, the UAE has become the fastest-growing hub for family offices worldwide, with more than 250 now operating in the country, most of which were established post-Covid by ultra-high-net-worth individuals from across the globe.
This growing concentration of wealth underscores Dubai’s rise as a premier global destination for business, investment, and luxury living.
