DET and Julius Baer launch strategic alliance to advance Dubai's position as a global hub for private wealth

The Dubai Department of Economy and Tourism (DET) has signed a strategic agreement with Swiss wealth manager Julius Baer (Middle East) Ltd. to mobilise its global network and support the growing interest among international investors, business owners, and family offices in establishing and expanding their presence in Dubai.

The agreement reflects the growing appeal of Dubai among global investors, business owners, family offices, and private clients seeking stability, connectivity, lifestyle advantages, and access to regional and international opportunities. It also reinforces Dubai’s position as one of the world’s leading destinations for private wealth, family offices, business owners, and long-term capital allocation aligned with the objectives of the Dubai Economic Agenda, D33.

Visionary leadership

His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET, said: “Dubai’s sustained growth as a global hub for wealth, and investment reflects visionary leadership, policy stability, and long-term economic planning. As international investors, business owners, family offices, and private clients seek certainty, connectivity, and credibility, Dubai offers a platform that combines regulatory clarity with global access.

Our partnership with Julius Baer strengthens our ability to convert strategic interest into structured establishment and investment outcomes. Even amid shifting global conditions, the city continues to demonstrate resilience, transparency, and strong institutional delivery. We remain focused on enabling responsible capital formation, supporting family offices, business owners, and long-term investment activity, and reinforcing Dubai’s position as a trusted base for international wealth and business growth in line with the Dubai Economic Agenda, D33.”

Rahul Malhotra, Head of Region Emerging Markets, Julius Baer, said: “Dubai has earned its place as one of the world’s leading hubs for wealth management, and that is a view Julius Baer has held, and acted on, for more than two decades.

Our long-standing presence here gives us a depth of market knowledge that allows us to respond confidently to clients when they are assessing where to base their wealth, their businesses, and their families. We are seeing sustained and growing interest in Dubai across our global client base, and while the current regional and international geopolitical environment has introduced an element of complexity for international investors, it has also reinforced Dubai’s position as a destination that offers stability, institutional credibility, and a clear long-term economic direction. Our structural confidence in this market has not wavered, and this partnership with DET is a natural extension of the commitment Julius Baer has demonstrated here from the very beginning.”

Julius Baer’s global network, spanning more than 25 countries and 60 locations, with assets under management amounting to 547 billion Swiss Franc at the end of June 2026, combined with its longstanding presence in Dubai, gives the firm a distinctive ability to connect international private clients with the investment and business opportunities the emirate offers.

Thriving ecosystem

Dubai’s private wealth ecosystem continues to expand. According to the latest reported Dubai International Financial Centre (DIFC) figures, as of year-end 2025, the Centre was home to 1,289 family-related entities, up 61% annually, while DIFC-based families had established 1,115 foundations, up 66% year-on-year. These figures reflect the city’s growing appeal among global investors, business owners, and ultra-high-net-worth individuals. The trend is supported by Dubai’s broader economic fundamentals and investment environment. Dubai has been ranked the world’s number one destination for Greenfield FDI projects for five consecutive years and recorded annual GDP growth of 5.4 percent in 2025, reflecting sustained investor confidence, economic diversification, and its attractiveness as a destination for global capital and business growth.

Dubai continues to build its reputation as a preferred base for global investors, business owners, family offices, and private wealth. Through this agreement, DET is strengthening the channels through which international investors, business owners, family offices, and private clients can better understand Dubai’s long-term economic direction, engage with its investment ecosystem, and assess the emirate as a base for wealth, enterprise, and future growth.