The Rise of Dubai

Mauritius’ leading banking and wealth management institution, MCB, and boutique investment advisory firm Stewards Investment Capital have partnered with wealth intelligence group New World Wealth to review Dubai’s remarkable ascent as one of the fastest-growing wealth markets globally. Few cities today reflect high-end wealth as strongly as Dubai, which has overtaken other regional hubs to become the wealthiest city in the Middle East.

According to New World Wealth, Dubai’s total investable wealth has grown by 110% over the past decade, placing it among the top five fastest-growing cities worldwide. As of June 2025, it is home to more than 86,000 millionaires, 251 centi-millionaires and 23 billionaires, ranking as the fourth wealthiest city in the EMEA region. If this trajectory continues, Dubai is on course to surpass London, Paris, and Milan by 2040.

Sebastian Graewert, Senior Executive Officer of MCB DIFC Branch, underlines the Group’s positioning:
“The UAE is now the fastest-growing family office hub in the world. As an advisory office in DIFC, MCB is well placed to guide investors as they diversify portfolios and capture opportunities across Africa’s expanding markets.”

Download the full report