On‑the‑ground allocations are rising, with HNWIs averaging Dh11.4 million per residential acquisition
Dubai’s transformation from a transient luxury stopover to a permanent global wealth capital is accelerating.. Photo: Supplied photo
Dubai’s attraction as a haven for the super-rich continues to grow, with a new millionaire homing in on the emirate every hour, studies show.
With the emirate set to welcome nearly 10,000 new millionaires this year, Dubai’s transformation from a transient luxury stopover to a permanent global wealth capital is accelerating, according to Betterhomes’ latest report, Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth.
As of December 2024, Dubai counts 81,200 resident millionaires, contributing to the UAE’s total of 130,500 dollar millionaires, a remarkable 98 per cent jump in the last decade. With 142,000 millionaires set to migrate globally in 2025, even if just 5 per cent select Dubai, that’s 7,100 new HNWIs and nearly $7.1 billion in fresh investment.
“Dubai has matured into the world’s most compelling plug‑and‑play city for wealth. What’s changed is intent; founders, operators and multi‑generational families are anchoring here, not passing through,” said Louis Harding, CEO at Betterhomes.
Ticket sizes tell the story. On‑the‑ground allocations are rising, with HNWIs averaging Dh11.4 million ($3.1 million) per residential acquisition, and UHNW families committing Dh134 million+ ($36.5 million+) to legacy villas, waterfront compounds, and identity‑rich branded residences. These are end‑user purchases oriented toward permanence, professional services, and inter‑generational planning and not flip culture.
Market depth is broadening. Dubai’s luxury property market continues to set new benchmarks, with year-to-date villa and townhouse sales soaring to Dh147.2 billion ($40 billion), a remarkable 41 per cent jump compared to last year. Ultra-prime communities remain at the heart of this momentum: Palm Jumeirah has witnessed 85 transactions worth Dh3.8 billion ($1 billion), while Emirates Hills saw 30 deals totalling Dh1.9 billion ($517 million). At the very top end of the spectrum, homes priced above Dh35 million ($10 million) amassed Dh9.4 billion ($2.6 billion) in sales over the past six months alone, spanning 146 transactions.
How does Dubai convert flow into stock? Policy clarity and zero personal income tax reduce friction for wealth creators. Safety, modern infrastructure, elite healthcare and education, and a US dollar‑pegged currency support families who plan to stay. The DIFC ecosystem, spanning private banking, trustees, and legal/accounting services, underpins the growth of family offices and capital‑formation vehicles. Together, these features convert mobile inflows into permanent capital.
Louis Harding, CEO at Betterhomes.. Photo: Supplied photo
From status buys to service stacks. Branded living has evolved from a badge to an operating system: concierge, wellness, club networks, and managed rental programs bundled into one address. In a supply‑constrained waterfront and villa market, this service stack is the new gravity.
“This cycle is driven by real users, not leverage,” Harding added. “Global wealth is consolidating in branded ecosystems and legacy neighbourhoods. With policy clarity and quality-of-life premiums compounding, Dubai’s prime market is shifting from cyclical to structural.”
As the global migration supercycle continues, Betterhomes expects sustained depth in prime and super‑prime, a further build‑out of family‑office services, and developers doubling down on concierge‑grade, club‑linked offerings. With supply tight in key sub‑markets, pricing power remains with high‑quality stock.
Legacy hubs face rising tax and policy friction. Dubai offers clarity, speed, and scale, a rare combination for wealth creators who value time to operate, predictable rules, and global reach within one flight hop. The result is a structural recalibration, not a cyclical blip.
Source: Khaleej Times
Published: 19 August 2025
