Dubai is rapidly cementing its status as a global centre for wealth and innovation, drawing an exodus of founders, fund managers, and high-net-worth families from traditional hubs. While Silicon Valley remains an iconic symbol of entrepreneurship, many are now looking to the UAE for its unique combination of lifestyle and leverage.
The city’s growth is underscored by significant wealth migration, with an estimated 6,700 millionaires moving to Dubai in 2024 alone, contributing to a 102% increase in its millionaire population between 2014 and 2024. Projections suggest Dubai could surpass established centres like London and Paris to become the wealthiest urban area in Europe and the Middle East by 2045.
A Synergy of Capital and Ambition
A key factor in Dubai’s appeal is the close alignment between public and private sectors. Emirati sovereign wealth funds, including the Abu Dhabi Investment Authority (ADIA) and Mubadala, actively co-invest and co-strategise with businesses, catalysing growth in a way private capital alone often cannot. These funds manage approximately 40% of the world’s sovereign wealth fund assets, providing immense financial power. This synchronised approach allows projects to advance from concept to reality in a fraction of the time it might take in Europe or the United States, a dynamic that [leads in urban innovation](https://thegulfmagazine.com/from
