Dubai rises as global magnet for wealth migration: Expert

Dubai is rapidly cementing its status as a global hub for ultrahigh-net-worth individuals (UHNWIs), with a surge in wealth migration fuelling the rise of family offices across the emirate.

- Somshankar Bandyopadhyay [e-mail]

As geopolitical uncertainty and economic shifts reshape global investment behaviour, Dubai's appeal as a safe haven is driving both settlement and strategic financial structuring among the world's wealthiest.

Dr Nannette Hechler-Fayd'herbe, chief investment officer at Lombard Odier, observes a clear uptick in the establishment of family offices in the UAE. "The data speaks for itself," she told Khaleej Times during a recent visit to Dubai. "We're seeing strong growth in the creation and domiciliation of family offices in the region, driven not only by people relocating here but also by the wealth being created locally especially through the development of the non-oil sector."

Family offices are increasingly viewed as essential vehicles for managing multi-generational wealth. Hechler-Fayd'herbe notes that their rise reflects a broader trend toward professionalisation. "Setting up a family office facilitates wealth transfer and reduces reliance on a single founder or patriarch," she explains. "It introduces investment professionals who bring structure, strategy, and efficiency to wealth management."