Dubai has once again cemented its status as a global hub of wealth and opportunity, now ranked as the fourth richest city in the Europe, Middle East, and Africa (EMEA) region.
As per the latest report, the Rise of Dubai, released by MCB Group, Stewards Investment Capital, and New World Wealth, the emirate is now considered to be the home to 86,000 millionaires, 251 centi-millionaires, and 23 billionaires as of June 2025.
Dubai’s Growing Wealth Profile
The study places Dubai behind only London, Paris, and Milan in terms of millionaire numbers. London leads the list with 212,000 millionaires, followed by Paris (163,000) and Milan (121,000). Experts keep on believing that if current growth continues, Dubai could surpass them all and become EMEA’s richest city by 2040.
Currently, Dubai’s residents hold an impressive $1.1 trillion (Dh4 trillion) in investable wealth, though much of this money remains parked in global banks and international markets.
Why Dubai Attracts Wealth
Industry experts point to several reasons behind Dubai’s meteoric rise. The city has earned a reputation as a safe haven for investors, thanks to its political stability, attractive tax environment, and strong regulations. Its booming property market, global connectivity, first-class healthcare, world-class schools, and luxury lifestyle offerings make it a magnet for the wealthy.
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Thierry Hebraud, CEO of MCB, and Bilal Adam, CEO of Stewards Investment Capital, both highlighted Dubai’s unique role as a bridge between established economies and emerging markets, offering investment opportunities that few other cities can match.
A City on the Rise
Dubai’s prosperity has become the reason for rapid population growth. In the last month, the city’s population crossed nearly 4 million, the highest in its history. At the same time, the UAE has emerged as the fastest-growing hub of the world for family offices, with more than 250 now operating in the country.
These offices—typically set up by centi-millionaires and billionaires—have been established largely after the Covid-19 pandemic, getting the attention from ultra-wealthy individuals from Africa, India, Russia, the UK, CIS countries, and the Middle East.
With its blend of safety, opportunity, and luxury, Dubai is no longer just a transit hub but a long-term home for global wealth. If this momentum continues, the emirate could be converted into the richest city in the EMEA region within the time span of two decades.