The Dubai International Financial Centre (DIFC) has established itself as a global hub trusted by some of the wealthiest families and individuals in the world. By attracting over 120 of the richest families and individuals in the region, whose combined net worth exceeds $1 trillion, the DIFC has solidified Dubai’s position as the leading financial center in the Middle East, Africa, and South Asia, and among the top 22 cities worldwide in terms of ultra-high-net-worth individuals.
According to the 2023 Wealthiest Cities Report, Dubai is home to over 68,500 high-net-worth individuals (those with at least $1 million in liquid assets), 206 centi-millionaires (with $100 million or more), and 15 billionaires.
The DIFC has grown into a prestigious financial hub with a workforce exceeding 41,500 and more than 5,500 active registered companies, supported by 20 years of continuous growth and record achievements in 2023, which further increased wealth inflows into both the center and Dubai.
Last year, the DIFC launched the world’s first Family Wealth Centre, designed to support and develop a thriving ecosystem for global family wealth. The initiative assists family businesses in achieving growth ambitions and planning management succession in Dubai and internationally.
To celebrate the first anniversary of the Family Wealth Centre, H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, H.E. Essa Kazim, Governor of the DIFC, and Aref Amiri, CEO of the DIFC Authority, hosted a private luncheon titled “A Legacy of Excellence”, welcoming leaders and advisors of leading family businesses.
H.E. Abdullah bin Touq Al Marri said:
“The UAE has always been the preferred destination for business and investment in the GCC and the wider MENA region. Similarly, the nation aims to become a regional hub for family businesses. Dubai has firmly established itself as a global hub for family wealth, offering unparalleled growth and preservation opportunities. Within just one year, the Family Wealth Centre has played a pivotal role in supporting this ecosystem, reflecting Dubai’s commitment to fostering growth, prosperity, and security for future generations.”
H.E. Essa Kazim added:
“Dubai and the DIFC have quickly established themselves as a premier destination for family businesses worldwide. The rapid growth and expertise witnessed at the center highlight its central role in shaping the family wealth landscape. As we mark the first anniversary of the Family Wealth Centre, we also reflect proudly on the DIFC’s 20-year pioneering journey and reaffirm our commitment to providing world-class resources to safeguard family legacies across generations.”
Aref Amiri, CEO of the DIFC Authority, said:
“The DIFC’s rise to a global hub for family wealth is driven by its commitment to an integrated ecosystem supporting the overall financial sector. Through transparency, regulation, innovation, and knowledge-building, the DIFC has earned the trust of over 230 banks—including 27 of the world’s top 29—and more than 350 reputable wealth and asset management firms. This momentum continues to attract family offices and related entities seeking the DIFC’s modern lifestyle offerings and world-class Family Wealth Centre services, designed to foster innovation, succession planning, and future prosperity.”
The DIFC currently hosts over 440 registered institutions and 600 active entities affiliated with major family businesses and individuals. In 2023, the center saw an 81% increase in single-family offices and a 12% increase in holding companies year-on-year, reflecting growing interest in family wealth management and the DIFC’s commitment to regulatory transparency and confidentiality.
To support this growth, the DIFC also launched its comprehensive guide: “Prosperity Across Generations: Unlocking the Power of the DIFC for Families”, providing families with expertise on governance, wealth management, succession planning, and real estate planning in Dubai and the DIFC.
