The Dubai International Financial Centre (DIFC) is a global hub for wealth, hosting 120 of the world’s richest families, 206 centi-millionaires, and 15 billionaires. This concentration of affluence has significantly contributed to Dubai’s ranking as the top city in MEASA and one of the top 22 cities globally for wealthy populations. The combined net worths of these families and individuals exceed $1 trillion.
A Hub for Global Wealth
According to the World’s Wealthiest Cities Report 2023, Dubai is home to over 68,500 high-net-worth individuals (HNWIs), defined as those with at least $1 million in liquid assets. This impressive demographic includes 206 centi-millionaires—individuals with a net worth of at least $100 million—and 15 billionaires.
The DIFC boasts over 5,500 active registered companies and a workforce of more than 41,500. Its consistent growth over the past 20 years has established it as the most comprehensive financial center between London and Singapore. This growth includes a record-breaking year in 2023, which has further attracted wealth to the center and the city of Dubai.
To support the future growth and succession planning of family businesses, the DIFC established the world’s first Family Wealth Center. This center has quickly become a vital part of the ecosystem, nurturing prosperity and security for generations.
At a recent exclusive luncheon celebrating the DIFC Family Wealth Center’s achievements, key figures like Essa Kazim, Governor of DIFC, Arif Amiri, CEO of DIFC Authority, and Minister of Economy Abdullah bin Touq Al Marri, highlighted the UAE’s role as a leading destination for business and investment in the region. They emphasized Dubai’s position as a pivotal hub for family wealth and the significant impact of the Family Wealth Center in just one year.
The DIFC continues to enhance its appeal with new initiatives and regulations, including the “Prosperity Across Generations” guide for estate planning, and the DIFC Family Arrangements Regulations. These efforts aim to maximize the economic contributions of family businesses while offering the highest levels of privacy and confidentiality.
Overall, the DIFC provides family businesses with world-class resources, an internationally recognized legal system, and a vibrant community, positioning it as a premier destination for family wealth management and growth.