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Dubai prince reportedly denies invitation from SG to set up family office

Dubai prince reportedly denies invitation from SG to set up family office

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Dubai prince Sheikh Ali Rashed Ali Saeed Al Maktoum’s private office has reportedly denied the invitation from the Singaporean government to set up a family office in the country. 

It comes as Aaron Shum, founding president, Hong Kong-Middle East Business Chamber claimed that he received a message that the Prime Minister of Singapore had sent someone to discuss with the prince and had invited him to Singapore to meet the prime minister and establish a family office, promising very favorable conditions.

According to the statement seen by MARKETING-INTERACTIVE on the Hong Kong-Middle East Business Chamber’s (香港- 中東經貿協會) website, Shum said he is very concerned about this and hopes that Sheikh Ali can establish his family office in Hong Kong, as it would carry significant symbolic meaning.

Don't miss: Dubai prince’s website unavailable after HK family office postponed

In response, Sheikh Ali’s private office said the information is untrue and represents serious misinformation, according to HK01. They have requested immediate clarification regarding the related reports. The prince is currently busy with several projects in Dubai, it added. 

However, the office didn’t respond on whether the plan to establish a family office in Hong Kong by the end of May will proceed.

MARKETING-INTERACTIVE has reached out to Sheikh Ali’s office for a statement. 

Recently, the website and LinkedIn page of Sheikh Ali ’s private office became unavailable, after he was revealed to have been a singer known as "Alira" and had a fan base in the Philippines. This comes after he earlier postponed opening a US$500 million family office in Hong Kong to May. A check by MARKETING-INTERACTIVE saw that while the website of his private office has returned to normal operations, his LinkedIn page remains unavailable.

Sheikh Ali, who claims to come from Dubai's ruling family, had initially planned to hold a press conference in March to announce the opening of his family office in Hong Kong, with an investment of HK$500 million. However, the press conference was suddenly postponed and rescheduled to the end of May.

According to HK01's report, it has also been revealed that Hang Seng University of Hong Kong (HSUHK), which entered into a memorandum of understanding (MoU) with Sheikh Ali on 26 March 2024 and appointed him as an honorary professor, has amended the related press release. All mentions of Sheikh Ali have been removed. Meanwhile, HSUHK told local media that the MoU and the appointment remain effective. 

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