My humble explanation:

Unlike Major participants of major alliances e.g. Lufthansa, BA, United Airlines, Singapore Airlines and many others, The location of DXB is so perfect for an airline that it does not require it to join any alliance. That can also explain the reason why so many airlines have sprung so quickly in the Gulf area. I also believe that a hub anywhere in the Mideast would help an airline grow very quickly.

P.S. This can also explain why Israel has tried very hard to bargain allowing EL AL to overfly Arab neighbors (e.g. a large country like Saudi Arabia) in exchange for other things, in regards to the Palestinian crises. If that happens, Tel Aviv would also become a major hub in the Middle East. EL AL has to take a long route over the Red Sea and then on to the Indian Ocean in order to reach any Asian city.