UAE to attract more ultra-wealthy, rising from 4,851 to 6,588 by 2031

Dubai: The UAE is set to attract a growing number of ultra-wealthy individuals, with the population of those holding more than $30 million in assets projected to rise from 4,851 in 2026 to 6,588 by 2031, according to the 2026 Wealth Report by Knight Frank.

The forecast places the UAE among the fastest-growing markets for high-net-worth individuals globally, underpinned by its appeal as a business hub and the sustained strength of its real estate sector. Dubai, in particular, ranked second worldwide for growth in prime residential property prices.

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Data from the report points to strong momentum in Dubai’s luxury property market, where prices rose by 25.1 per cent over the past year and by 193.9 per cent over five years. 

The number of transactions exceeding $10 million also climbed sharply, from 113 deals in 2021 to 500 in 2025, reflecting sustained demand for high-end assets.

The report highlights Dubai’s position as a key destination in global wealth migration, attracting investors and high-net-worth individuals seeking stability, connectivity and favourable business conditions, often in preference to more traditional centres such as New York and London. 

Across the Middle East, prime property prices rose by an average of 9.4 per cent in 2025, driven largely by Dubai’s performance.

In parallel, Abu Dhabi has gained traction as an alternative investment destination, drawing international buyers with its financial ecosystem and expanding cultural landscape, including institutions such as the Louvre Abu Dhabi and the planned Guggenheim Abu Dhabi.