BEYOND THE BLING: HOW INDIAN WEALTH IS REPURPOSING ITSELF IN DUBAI
Reality TV enthusiasts will be familiar with Dubai Bling, the series that showcases the blingy, sometimes over-the-top lifestyle that the uber wealthy of Dubai enjoy. But when the teaser for Desi Bling, an Indian spin-off to the show, was launched in February, the sheer magnitude of Indian wealth and influence in Dubai came into the spotlight.
Wealth migration to Dubai is not a new concept, but the pace and scale of Indian high-net-worth migration over the past decade has become increasingly significant. The number of High-Net-Worth Individuals (HNWIs) in the UAE has increased by 102% in the past decade. In 2024, 6700 HNWIs moved into the UAE and in 2025, the number was expected to be as high as 9800, according to Henley & Partners1.
As monumental as this sounds, it is also linked with the reforms and global events that have triggered this shift in the past decade. Since 2016, the UAE has introduced business reforms, including 100% foreign ownership of businesses, bankruptcy law reforms, and easier access to long-term residency through the Golden Visa. The Golden Visa has opened up doors not just for the generationally wealthy, but also for high income earners and entrepreneurs.
While zero income tax and inheritance tax may have held the initial appeal for HNWIs, global events have also triggered the exodus. The Covid-19 pandemic revealed the structural deficiencies in other markets. Where global lockdowns brought business to a standstill for months on end, the lockdown lasted a mere three months in Dubai, prompting individuals and businesses to relocate for its business continuity and effective health protocol management.
Within this ecosystem, the Dubai International Financial Centre (DIFC) has emerged as a critical anchor. An English Common Law Framework, robust regulation by the Dubai Financial Services Authority (DFSA), secure and transparent environment with 100% foreign ownership of businesses, all of these have aided the credibility of the DIFC on an international scale so that wealth and businesses are moving from the UK, India, and Russia amongst others. This is evident in the growth of wealth and asset management entities by 22% in the past year2 alone.
This momentum is reinforced by broader market activity: data released by the Dubai Media Office shows that overall real estate transactions in the emirate reached AED 431 billion in H1 2025. Within this landscape, market analysis from Savills indicates continued demand for homes priced above AED 10 million, particularly in established luxury districts such as Palm Jumeirah and Emirates Hills, where limited supply has supported price stability.
Dr Bhaskar Dasgupta, Chairman of APEX Group, posits that real estate is increasingly being treated as a core part of HNWI portfolios and less as a ‘shiny purchase’. “Branded residences and fractional schemes are everywhere, but the trick is to stop thinking of property as an Instagram backdrop and start seeing it as a structured investment”, says Dr Dasgupta.
For Indian investors, the capital flow is also supported by the positioning of such jurisdictions as GIFT City as the gateway for outbound allocation into markets such as Dubai, according to Dr Dasgupta. In this sense, Indian HNWIs are not simply leaving India for Dubai, they are establishing themselves across multiple bases for greater mobility.
Generational shifts are also shaping how capital is deployed. According to Shelein Lakhani, Senior Wealth Advisor at Vault Wealth, younger members of wealthy families are increasingly open to alternative asset classes such as private credit and venture capital, particularly in sectors aligned with technology and sustainability.
Dubai has emerged as a natural base for this shift. The emirate’s push towards economic diversification, coupled with the rapid growth of climate-tech, fintech, health-tech and AI ecosystems, has created a pipeline of opportunities that align with both commercial and social objectives.
Family businesses are also increasingly allocating efforts to sustainable practices, such as Landmark Group’s Circulife, which recycles textile, spearheaded by the Jagtiani family. Another effort is Yusuff Ali family’s Lulu Group’s integration of solar energy into large warehouses and Reverse Vending Machines across retail operations reflect a broader shift towards responsible capital deployment.
As wealth circulates through real estate and increasingly into regulated funds, innovation platforms, and sustainability-focused investments, Indian capital in Dubai is evolving beyond visibility and luxury. What is emerging instead is a more deliberate, long-term approach, one that positions Dubai as a stable base for governance, growth, and generational continuity.
This article is authored by Amandeep Kaur Ahuja.
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Reference
1. https://www.henleyglobal.com/newsroom/press-releases/henley-private-wealth-migration-report-2025