UAE: Family offices flock to Emirates to tap over Dh2.5 trillion market

UAE: Family offices flock to Emirates to tap over Dh2.5 trillion market

Many hedge funds, crypto companies, venture capital firms have established their presence in the country, thanks to a number of new reforms and legislations

Published: Thu 20 Apr 2023, 7:42 AM

The UAE is increasingly becoming a hub for family offices, with some of the world’s big names setting up offices in the country to tap the market, which is set to reach Dh3.67 trillion in the next few years.

American billionaire investor and hedge fund manager Ray Dalio is among the latest high-profile investors to announce a plan to set up a branch of his office in the UAE capital.

Located in Abu Dhabi Global Market, the new office will have a team of experienced investment professionals to run the family office.

Globally, family offices have become multi-trillion-dollar businesses, with major ones influencing the sector’s power plays. In many cases, these offices have become the de-facto parking mechanism for UHNI’s wealth. An estimated 17,000 family offices worldwide have combined assets of $10 trillion (Dh36.7 trillion). Interestingly, around 25 per cent of these assets are in the real estate sector.

Many hedge funds, crypto companies and venture capital firms have established their presence in the UAE, of late, thanks to a number of new reforms and