Dubai prince denies invitation from Singapore to establish family office

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23rd April 2024 – (Hong Kong) The office of Sheikh Ali Al Maktoum, a purported member of the Dubai royal family, clarified misinformation regarding an alleged invitation from the Singaporean government. Reports had surfaced suggesting that the Sheikh was invited to meet with senior officials in Singapore with the prospect of establishing a family office there. However, the Sheikh’s office has categorically denied these claims, labelling them as “serious misinformation.”

The initial reports were brought to light by Aaron Shum Wan-lung, the founding president of the Hong Kong – Middle East Business Chamber. Shum claimed that the Dubai royal family had received an invitation from the Singaporean government. However, when journalists from HK01 approached Sheikh Ali’s office for confirmation, the response was unequivocal in its dismissal of the reports as inaccurate.

This denial comes amidst speculation around Sheikh Ali’s plans concerning the establishment of a family office in Hong Kong, which was originally scheduled for launch last month but was unexpectedly postponed to May. The office of Sheikh Ali has not yet confirmed whether the plans for the Hong Kong office will proceed as scheduled.

The rumoured invitation and the subsequent denial have stirred interest at a time when Sheikh Ali’s activities have been under greater scrutiny. Notably, the Sheikh was recently a keynote speaker at a major Web3 Summit in Dubai, an event that drew significant attention with its high-profile guest list and over 3,000 attendees.

Further intrigue was added by the sudden and unexplained delay in the opening of the Sheikh’s family office in Hong Kong, which led to widespread speculation. Media reports suggest various potential reasons for the delay, ranging from changes in the lineup of guests for the opening ceremony to alleged dissatisfaction with the level of public exposure by Shum.