Hong Kong

Dubai Royal Family Expands Investment Footprint with $500 Million Office in Hong Kong

Sheikh Ali Al Maktoum, a member of the Dubai royal family and nephew to Sheikh Mohammed Bin Rashid Al Maktoum, is reportedly establishing a family office in Hong Kong with an investment capital of up to $500 million.

This move aligns with Hong Kong's initiative to attract international investments and marks one of the significant responses from global investors. The new firm aims to explore investment opportunities across Asia, focusing on sectors such as artificial intelligence, construction, electric vehicles, tourism, and fintech, as stated by Eleanor Mak, the CEO of the firm, during a Bloomberg TV interview. This venture into Hong Kong represents the family office's first expansion outside its home country, and discussions with potential investment targets have already begun, reports Bloomberg.

Sheikh Ali shared his positive impressions of Hong Kong, noting its advanced state and potential for investment and business growth, which he sees as similar to Dubai. This perspective comes as Hong Kong seeks to recover from an economic downturn and the departure of international companies, exacerbated by the pandemic and US-China tensions. Efforts to revitalize the city include offering tax and residency incentives to attract wealthy investors, a strategy that contrasts with Singapore's success in attracting a significant number of family offices.

According to a Deloitte study, Hong Kong hosts over 2,700 single family offices. The city's Chief Executive, John Lee, aims to attract or expand over 200 family offices by the end of 2025, utilizing various campaigns including international delegations. Sheikh Ali's new office in Hong Kong and his participation in the upcoming Wealth for Good summit highlight the city's ongoing appeal to international investors and the potential for enhanced investment ties, particularly with the robust markets of mainland China and Hong Kong.