TEMPO.CO, Jakarta - Some of the richest cities in the Middle East have built their fortunes on a potent mix of vast oil reserves, bustling trade corridors, and influential financial hubs. These lucrative landmasses have long been the backbone of the region’s economic momentum, fueling rapid development and shaping the financial landscape with striking ambition and global impact.
10 Richest Cities in the Middle East
As of 2025, Dubai has been named as the richest city in the Middle East by CitizenX, Forbes Middle East, and other sources. Beyond this oil reserve city, other wealthy cosmopolitan hubs are also mentioned, including:
1. Dubai, United Arab Emirates
Upholding the title of Middle East’s richest city, Dubai flaunts its extraordinary wealth, driven by real estate triumph, thriving trade, soaring tourism, aviation success, and financial breakthroughs. Dubai has since witnessed an extraordinary surge in its millionaire population, with a combined assets worth a staggering $925 billion
2. Tel Aviv, Israel
Dubbed the “Startup Nation’s Capital,” Tel Aviv thrives as a dynamic innovation hub, home to over 2,000 startups and major R&D centers for global tech titans like Microsoft, Apple, and Google. Beyond its booming business scene, the city pulses with financial muscle, supported by a remarkable 24,300 millionaire residents. Together, this entrepreneurial spirit and concentrated wealth form the foundation of Israel’s robust economy.
3. Abu Dhabi, United Arab Emirates
Cited as the third-richest city in the Middle East, Abu Dhabi links its solid economic strength to the country’s oil reserves. On a daily basis, these oil-rich stockpiles deposit about 3 million barrels, which remains among the largest sponsors for government initiatives and private wealth. Furthermore, the UAE is credited as a country with one of the world’s largest sovereign wealth funds, further catapulting its affluent reputation.
4. Riyadh, Saudi Arabia
In the past decades, Saudi Arabia’s capital—Riyadh—has seen a pivotal shift toward lavish holdings, now housing about 18,000-20,000 millionaires. This considerable number makes the largest contribution to the country’s entire affluent landscape, which stands at 58,300 millionaires. Among other strategic initiatives behind the giant leap, Riyadh is widely affected by economic reforms under Vision 2030.
5. Doha, Qatar
With approximately 17.5% of Qatari capital households boasting millionaire status, it’s no surprise that Doha ranks prominently among the richest cities in the Middle East. Beyond its elite status, the urban center is a powerhouse in global energy supply, anchored by the world’s third-largest natural gas reserves. For years, the state-run QatarEnergy has been raking in immense profits from its lucrative LNG exports, further fueling the nation's economic dominance.
6. Kuwait City, Kuwait
Renowned for having the world’s strongest currency, Kuwait’s immense wealth is deeply rooted in its powerful oil-driven economy. Notably, the country is home to 217,000 millionaires—an impressive figure for a nation of just 4.5 million people. At the heart of it all, Kuwait City buzzes with economic activity, powered by dominant regional banks, booming real estate, high-end retail, and a thriving construction sector.
7. Istanbul, Turkey
Diversified economic initiatives play a central role in building Istanbul as one of the richest cities in the Middle East. Despite economic volatility over the past decade, Istanbul strategically rebounded through technology and entrepreneurship strides. Today, Turkey’s financial center is home to growing tech startups in gaming and e-commerce.
8. Jeddah, Saudi Arabia
Unlike its neighbors in Saudi Arabia, Jeddah has a deep root in the monarch’s wealthy offspring. Now hosting an estimated 10,000 millionaires, the city emerges as a mainstream gateway for religious tourism, providing transportation and hospitality services. While a large portion of the city’s conglomerates took a bold move towards automobiles and consumer goods, others remain determined in construction projects.
9. Manama, Bahrain
With an exceptional experience as the Gulf’s financial hub since the 1970s, Manama is evidently among the richest cities in the Middle East. The presence of regional banking and financial services centers here—including the Bahrain Financial Harbour and Bahrain World Trade Center—is not to be underestimated.
10. Muscat, Oman
Rounding out the list, Muscat has steadily grown its affluent population, fueled largely by Oman’s rich oil and gas revenues. Beyond energy, the city is tapping into a diverse stream of investments, from expanding port infrastructure and trade networks to developing its rising tourism industry. This balanced economic strategy continues to elevate Muscat’s status as a key player in the region’s financial scene.
From oil-fueled fortunes to innovation-driven success, the richest cities in the Middle East showcase the region's dynamic path toward prosperity. Whether through traditional energy dominance or modern tech revolutions, these urban powerhouses continue to redefine wealth on a global scale.
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