Family Office

UAE Family Office Says Opening Of Hong Kong Centre Will Proceed – Media

Editorial Staff 5 April 2024

UAE Family Office Says Opening Of Hong Kong Centre Will Proceed – Media

The development comes at a time when Hong Kong has been working to stress its credentials as an attractive place for family offices.

Hong Kong’s hope of building an international reputation as a hub for family offices appeared to have been dented a few days ago after Dubai’s ruling family reportedly delayed the official opening of an office.

However, media reports said that Sheikh Ali Rashed Ali Saeed Al Maktoum, who is related to Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum, said the operation of the office in Hong Kong will proceed as planned.

Sheikh Ali Bin Rashed Al Maktoum" said the the inauguration ceremony of the family office will be postponed until the end of May. Reports quoted a statement from the organisation. 

WealthBriefingAsia has contacted the family office for a statement, and may update this story in due course.

Hong Kong, mindful of the competition for family office business from rival hubs such as Singapore, Dubai and Switzerland, has been rolling out incentives of its own. The city is also planning to recover after the problems of the pandemic lockdowns and tighter political controls over Hong Kong from Beijing since 2020.

"Due to some urgent unexpected private matters, Sheikh Ali Rashed Ali Saeed Al Maktoum from Dubai has decided to postpone the opening ceremony of the family office to the end of May this year, when the Sheikh will visit Hong Kong again," according to the family office’s statement.

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