Dubai and Abu Dhabi have emerged as global leaders in attracting and developing wealth, both for high-net-worth individuals (HNWIs) and corporate investors, according to a new report by international real estate consultancy Savills.
Dubai secured the top spot in Savills’ latest Dynamic Wealth Index, lauded for its combination of financial incentives, favorable climate, and high quality of life. The emirate is now home to 81,200 resident millionaires, including 237 centi-millionaires and 20 billionaires, according to a separate report from Henley & Partners. Notably, Dubai climbed from 21st to 18th in the global rankings over the past year, making it the biggest mover in the top 50.
Abu Dhabi also features prominently in the rankings, with 75 centi-millionaire residents and a strong projection that both emirates will see their ultra-wealthy populations more than double over the next decade.
The Savills report also highlights that Dubai and Abu Dhabi are increasingly attractive destinations not just for wealthy individuals, but also for the businesses they bring. Both cities are benefiting from a rapidly diversifying economy, moving beyond oil and attracting increased corporate and sovereign wealth investment.
“Abu Dhabi’s sovereign wealth has notably attracted connected family offices and global corporates. This has stimulated office demand and boosted the luxury residential market,” said Rachael Kennerley, Director of Research at Savills Middle East. She also noted that tightening fiscal policies in other countries are making the UAE an increasingly appealing option.
Real estate markets are already responding to this influx. Prime residential capital values in Dubai rose by 6.8% in 2024, reflecting heightened demand from affluent buyers and investors.
The newly launched index also evaluates cities based on their appeal to corporates. Abu Dhabi ranked fifth globally, while Dubai placed 11th, underscoring the emirates’ dual appeal to both individuals and businesses seeking relocation.
Other cities featured in the top 12 for attracting HNWIs include Singapore, Zurich, Auckland, Boston, New York, San Jose, Seattle, Miami, Dallas, and San Francisco.
Savills emphasized that traditional drivers of wealth relocation—such as tax policies, government incentives, and access to talent—remain important. However, lifestyle factors are playing an increasingly pivotal role.
“A high quality of life, strong sense of place, and vibrant communities are now often the deciding factors for individuals and companies choosing where to base themselves,” said Paul Tostevin, Director of Savills World Research.
With geopolitical and economic volatility on the rise globally, Dubai and Abu Dhabi appear well-positioned to remain magnets for global wealth, offering a blend of stability, opportunity, and modern living.
