Dubai’s growing appeal to high-net-worth individuals (HNWI) and ultra-HNWI (UHNWI) is also reflected in its swelling millionaire population, which has nearly doubled since 2014 to exceed 81,000, according to London-based investment migration consultancy Henley & Partners. Together, these trends have cemented the United Arab Emirates’ (UAE) most populous city as a leading destination for mobile global capital.
Transaction volumes in the city-state’s shophouse market have fallen from a peak of 253 deals in 2021 to just 89 in 2025. Could capital leaving the Middle East flow into shophouses here?
For years, Dubai has been one of the world’s most powerful hubs for global wealth. More than 500 homes priced above US$10 million ($12.8 million) were sold in 2025, notes a Knight Frank report early this year, with total transaction value rising 27.7% from 2020 to US$9.05 billion.
