- By Ajeet Kumar
- Fri, 22 Aug 2025 04:29 PM (IST)
- Source:JND
Dubai intresting fatcs: Dubai, home to 3.7 million, has become a magnet for the ultra-wealthy, especially billionaires. Once a desert outpost, it is now adding thousands of millionaires every year. According to a report by AFP, more Westerners are joining the city in quest of a more luxurious life.
A recent report published by Advisory firm Henley & Partners— a firm that mainly works with high-net-worth individuals to secure alternative residences and citizenship— estimates that the UAE will attract an unprecedented 9,800 millionaires this year. The number is more than anywhere else in the world.
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Home to the world's tallest building - the more than half-mile tall Burj Khalifa - Dubai has grown over the last 20 years to become a global business hub. The city expands with ever more ambitious projects, increasing traffic, and rising numbers of expats lured by all Dubai has to offer.
Dubai has a reputation for wanting to do everything bigger and better. But the true charm of the city lies in its unique mosaic of communities, each bringing its own culture, food, and festivities.
Why has Dubai become a hub for the global rich?
1. Although Dubai has strict policies related to crime and other issues, it offers economic and political stability
2. Dubai has an extremely low crime rate
3. It has an easy business mechanism that helps business establishments to secure deals with low government interference
4. Despite being home to the ultra-rich, it offers luxury at a low rate
5. Family can enjoy a better lifestyle with the same amount of money they spent anywhere else
6. The UAE does not levy income tax on individuals.
7. However, it levies a 5 per cent value-added Tax on the purchase of goods and services
8. Safety is definitely a Dubai perk.
9. Dubai is a party town known for its concerts, late nights, and liberal alcohol rules.
10. It boasts a colossal shopping mall complete with an indoor ski slope, the tallest building on Earth.
11. Dubai has iconic Palm Jumeirah — a man-made island lined with luxurious five-star resorts.