The Changing Face of Family Offices: How Are Investments Evolving?

With trillions of dollars in wealth poised to change hands, geopolitical risks and generational change are rewriting how family offices deploy capital. 

In the Middle East, a recent study by Ocorian found that over two-thirds of family offices are seeing the next generation taking a bigger role, and that three-quarters are demonstrating increased risk appetite. Family offices are also increasingly interested in emerging asset classes, with 79% pointing to digital asset exposure as a focus. 

In response to a more complex global environment, families are distributing functions across jurisdictions, notes Zac Lucas, Director of UHNWI Advisory Services at Henley & Partners. “Diversification is no longer simply a question of what they own, but also where their wealth, businesses and interests are located,” he says. 

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Dubai is a key beneficiary of this diversification trend. In 2025, the Dubai International Financial Centre (DIFC) recorded a 61% surge in family-related entities. ASK Private Wealth and Cambridge Associates are among the firms recently expanding their local presence. Leading regional banking group Emirates NBD and BlackRock have announced plans for an investment platform to enhance access to alternatives for wealth clients, while UK-based Stonegate Capital chose Dubai for the recent launch of an AI-first family office.

The emirate also boasts a growing network of private wealth-focused partnerships with institutions like Deutsche Bank and Julius Baer. Increasingly a prime destination for international capital, Dubai is also a global convener of major wealth events, such as the upcoming Bloomberg Invest summit in November that will explore the future of wealth and shifting family office investment landscape.

Dubai’s appeal is based on a combination of factors, from advanced infrastructure and clear regulatory and residency pathways to a highly developed financial services sector. “For family offices, that depth of ecosystem matters,” Lucas says.

Access to alternative investments

Recent policy developments are set to accelerate Dubai’s momentum. DIFC has introduced its Variable Capital Company (VCC) structure that streamlines proprietary investments for family offices, while updates to the regime governing cryptocurrencies will enhance flexibility in a domestic sector that hit US$680 billion in regulated trading volumes last year, according to the emirate’s Virtual Assets Regulatory Authority (VARA).

Adaptive regulatory strategies are specifically targeting the alternative growth markets finding favor with investors. The launch of the Dubai Longevity Authority, for example, increases investor access to a sector forecast to reach $8 trillion globally by 2030.

Venture capital is another clear area of potential. “Government programs to match funds and/or protect capital could further the interest of family offices to invest into the local ecosystem,” notes Philip Bahoshy, CEO of MAGNiTT, a venture-focused data platform.

Connecting global wealth

From established financial centers like Hong Kong and Singapore to fast-growing markets like Turkey, other jurisdictions are also moving to attract private capital. But Lucas cautions against framing these efforts as a global competition.

“Families don’t necessarily need to choose one center at the expense of another,” he explains. “They can use different jurisdictions for different purposes.”

Lucas says the opportunity for family offices in Dubai is twofold: It serves “both as a destination in its own right, and as an important node within a genuinely global family wealth structure.”