Hong Kong attracts 150 new family offices

Hong Kong’s innovation, technology growth, and vibrant art market are attracting around 150 new family offices despite geopolitical tensions and scrutiny over CK Hutchison Holdings’ Panama port sale, according to InvestHK. Of the interested offices, 80 are from mainland China and Taiwan, 30 from Europe, 20 from Asia, and 20 from the US and other regions. Wealthy families, particularly second-generation investors, are shifting towards sustainability, green projects, technology, and art. InvestHK director-general Alpha Lau said Hong Kong’s status as a cultural hub has drawn auction houses and investors. The city, now home to over 2,700 family offices, aims to attract 200 more by 2025. Recent inquiries also show growing interest in tangible assets like property.