Introduction

In a bold move that underscores the rising prominence of Abu Dhabi as a global financial hub, renowned Singaporean property tycoons Raj Kumar and his son Kishin R.K. are establishing a family office named RB Family Office in the UAE capital. This new venture aligns with a growing trend of affluent individuals relocating their wealth management operations to the Middle East, a region increasingly recognized as a sanctuary for the ultra-wealthy.

Strategic Location and Legal Framework

Kishin revealed in a recent interview that the RB Family Office will be situated within the prestigious Abu Dhabi Global Market, a free zone that promises a business-friendly environment along Al Maryah Island. “We chose Abu Dhabi because it’s strategically located and has an internationally recognized legal framework,” Kishin explained, emphasizing the family’s intent to strengthen ties with the UAE market and broaden their investment portfolio across the Middle East.

Significance of RB Family Office

Moreover, the creation of this family office marks a significant milestone for the family, whose estimated net worth stands at about $3.15 billion. Although Kishin refrained from disclosing the total assets managed by the new office, he confirmed that they are currently in the process of assembling a professional team. The RB Family Office will primarily target investments in real estate sectors including retail, commercial, and hospitality.

Kishin's Business Ventures

Kishin operates RB Capital, a prominent real estate conglomerate, which, along with his father’s Royal Holdings, manages an impressive portfolio worth approximately $10 billion. This includes high-profile properties such as The InterContinental Singapore, Robertson Quay, and Cuppage Terrace, all situated within the bustling Orchard Road area, a highly coveted commercial hub.

Commitment to Singapore and Growth

The establishment of RB Family Office in Abu Dhabi will serve as an "extension of our portfolio in Singapore," Kishin stated, reaffirming their commitment to continuing growth within their home market. “We are still deeply rooted and committed to growing our portfolio in Singapore,” he added.

Abu Dhabi as a Wealth Management Hub

Abu Dhabi has evolved into a hotspot for the global elite in recent years, attracting illustrious figures such as hedge fund titan Ray Dalio and Leon Black, co-founder of Apollo Global Management, both of whom have established their family offices in the emirate. Egyptian billionaire Nassef Sawiris is also in the process of relocating his investment firm to Abu Dhabi Global Market, while Russian steel magnate Vladimir Lisin and India’s Adani family have found their base in the vibrant city.

Conclusion

This trend suggests a changing landscape in wealth management, where strategic relocations to favorable business environments such as Abu Dhabi are becoming increasingly common among billionaires seeking to optimize their investments in an ever-evolving global economy. What does this mean for the future of wealth management in the region? Only time will tell, but one thing is certain—Abu Dhabi is positioning itself at the forefront of luxury investments.