Across the Middle East, wealth and enterprise have long been deeply intertwined. Many wealthy families preserve generational wealth through privately owned, tightly held businesses. Historically, they have relied on trusted insiders – such as CFOs or in-house legal counsels – to manage both business and personal wealth.

This informal approach reflects regional norms where trust is cultivated through close-knit relationships. These informal structures are known as virtual family offices (VFOs) and allow families to selectively outsource services such as investment, legal and succession planning advice on an as-needed basis. VFOs operate without dedicated licences, office spaces or large in-house teams.

They leverage a network of trusted advisors, external specialists, and digital platforms to manage wealth.

While this approach has benefits like minimising fixed costs and streamlining administration, families increasingly recognise the need to institutionalise and professionalise their structures. This shift is driven in part by the adoption of diverse investment strategies that demand more robust governance.

In the region, families are moving beyond traditional sectors such as real estate and local businesses to explore global markets, private equity, venture capital, and sustainable investments, often also incorporating philanthropy into their plans.

Evolving complexities and risks – including navigating cross-border regulations, managing volatile markets, addressing governance challenges, and ensuring effective succession planning amid shifting family dynamics – also highlight the importance of enhanced institutionalisation and professionalism.

The shift toward single-family offices

This is why many are now exploring the establishment of dedicated single-family offices (SFOs) – structured entities that clearly separate personal wealth from businesses – establishing defined investment mandates and support generational transitions.

SFOs consolidate reporting and risk oversight, implement governance frameworks, attract professional talent, and formalise wealth transition plans.
These structures also prompt families to take a more holistic view of the ownership of their assets, considering not only the jurisdictions where their assets, structures and investments are held, but also the underlying legal frameworks.

Many families in the region are establishing trusts and foundations as part of their SFO structures, prompting them to think of succession planning from both an ownership and management perspective.

With a growing number of families across the Middle East embracing the future of wealth stewardship, our role as a private bank is to guide families through the journey towards building an enduring SFO with clarity, conviction, and purpose.

This journey starts with conversations on:

• Assessing readiness by evaluating the complexity of their wealth and identifying key drivers for institutionalisation.
• Defining objectives such as succession planning, governance frameworks, and investment mandates.
• Designing scalable structures that balance tradition with modern best practices.
• Connecting with experts including legal, tax, and operational specialists to build a tailored ecosystem.
• Providing ongoing support through our dedicated family office advisory team, offering insights on global trends, risk management, and talent acquisition.

As Middle Eastern families continue to evolve, the rise of SFOs reflects a broader shift toward institutional-grade wealth management – without losing sight of the cultural values that underpin trust and legacy.

Whether starting small or scaling up, the key lies in designing a wealth management structure that balances tradition with modern governance, ensuring resilience across generations.

Ranjit Khanna is the head of Private Banking Europe, Middle East and Global South Asia and chief executive, DIFC Branch, Bank of Singapore.

Bank of Singapore Limited’s branch in the Dubai International Financial Centre (DIFC) is regulated by the DFSA.

The story of Web3 in the Gulf is often told through regulation, investment, and government programmes. But look a little closer and you’ll see that some of the region’s real progress isn’t unfolding in boardrooms. It’s happening in cafés, co-working spaces, and community hubs across Dubai, Abu Dhabi, Riyadh, and Bahrain. Places where builders, founders, investors, and the crypto curious gather to learn, debate, and experiment together.

These grassroots communities are becoming one of the Gulf’s most powerful catalysts for digital-asset adoption. What began as informal meetups has evolved into a movement that is shaping how the region understands, tests, and applies Web3 technologies in the real world.

Dubai as the beating heart

Dubai remains the region’s most active Web3 hub with an ever-full calendar of community gatherings across the city that cover everything from developer tutorials and security deep dives to open discussions about regulation and real-world use cases. On any given week, you’ll find crypto community meetups in DIFC, alongside major global events like Binance Blockchain Week.

What sets Dubai apart is the mix of people in the room: software engineers sitting alongside wealth managers, creators alongside corporate strategists. This diversity accelerates learning. The result is a city that doesn’t just talk about innovation, it practises it publicly, openly, and often.

Abu Dhabi as the institutional anchor

Abu Dhabi’s Web3 community reflects its institutional and regulatory strengths. Events hosted at Hub71 and ADGM’s innovation spaces tend to attract a different crowd: risk analysts, compliance specialists, treasury professionals, and founders exploring tokenisation or institutional-grade infrastructure.

Here, workshops focus on real-world deployment: how digital assets can streamline settlement, how tokenised portfolios could change practices, and how regulated environments build institutional trust. It’s a scene that is rooted in depth over volume, laying the foundations for long-term confidence.

Riyadh as the youth engine

Riyadh’s Web3 momentum is powered by the region’s youngest and most ambitious populations. The rise of community-led events at places like The Garage, MiSK, and university innovation centres has created an energetic pipeline of developers, designers, and product thinkers. Hackathons now attract hundreds, many experimenting with real-world use cases, digital identity, and supply-chain tracking that align with the kingdom’s digital transformation agenda.

Riyadh’s rapid growth is reshaping the regional talent map. It is becoming a place where ideas don’t just get discussed, they get built.

Bahrain as the fintech bridge

Meanwhile, Bahrain offers one of the Gulf’s most integrated Web3 and fintech communities. Regular meetups at Bahrain’s FinTech Bay and across the central Manama start-up corridor bring developers, bankers, compliance experts, and founders into close proximity. The result is a rare balance: technical creativity grounded in financial discipline.

Discussions often bridge blockchain innovation and regulated finance, ensuring that new ideas are anchored in practical application, not just technical enthusiasm.

Community power

Across the Gulf, a clear pattern is emerging: community events are reducing the barriers to entry. They demystify complex topics, encourage open dialogue, and create trust in an industry that has often struggled with it. For builders, they provide invaluable feedback loops to refine and create products that solve regional problems.

Mubadala Investment Company and Glenwood Private Equity (Glenwood PE), along with other co‑investors, have completed a co‑investment deal in NanoH2O, signalling confidence in the desalination firm’s global growth prospects and technological edge.

The deal — finalised after all closing conditions and regulatory approvals — sees NanoH2O, formerly the water‑treatment division of LG Chem, spun off earlier this year, continue operations as an independent company headquartered in Seoul.

The company specialises in reverse‑osmosis membranes used for desalination and brackish water treatment, regarded globally as a highly energy efficient method for large‑scale water purification compared with conventional thermal processes.

NanoH2O generates more than 95 per cent of its revenue from outside South Korea, serving municipal and industrial customers worldwide, a factor highlighted by investors as evidence of its broad international reach amid growing global demand for clean water.

At the closing, Glenwood PE CEO Sangho Lee described the investment as a move in line with Glenwood’s track record of backing quality businesses spun out from larger conglomerates.

He said the firm remains committed to supporting NanoH2O as it scales up global operations and advances sustainable water‑treatment solutions.

Investment aligns with Mubadala’s broader aims

From Mubadala’s side, Asia head Mohamed Albadr noted the company’s long‑term trust in NanoH2O’s technology leadership and growth potential. He said the investment aligns with Mubadala’s broader aim of backing companies that offer solutions to global challenges, reinforcing its commitment to South Korea and the wider Asian market.

Adding a regional perspective, Abdulla Mohamed Shadid, head of Energy and Sustainability at Mubadala, underscored the growing intersection between water security and decarbonisation, saying reverse‑osmosis membranes like those produced by NanoH2O are crucial in delivering water at scale with lower energy intensity.

He added that the investment would help meet rising regional demand — especially in the MENA region — and contribute to long‑term sustainable value creation.

At Cityscape Global 2025, Liwan Real Estate Development CEO Abdulrahman bin Saud Aldhyem outlined the company’s strategy for creating integrated, sustainable destinations that respond to Riyadh’s accelerating urban transformation. From the SAR4.5bn Liwan Najd development in East Riyadh to the continued momentum of Livein Liwan in the city’s centre, the company is aligning its product mix, financing approach and customer research with the demands of Vision 2030. In this exclusive interview, Aldhyem explains how Liwan is tailoring its offerings for Saudi and non-Saudi residents, building diversified asset portfolios, and strengthening investor confidence through off-plan models, strategic alliances and long-term risk management.

How did you determine the location and investment size for the Liwan Najd project, valued at SAR4.5bn in Granada district, and how does this align with your strategic roadmap?

At Liwan Real Estate Development Company, we are focused on developing mixed-use projects that cater to diverse segments within the city of Riyadh. Following a comprehensive study of Riyadh and the region’s market demand, we identified needs across the East, Central, West and North areas. We targeted the Central region for our first project, Livein Liwan. We are proud to have completed 50 per cent of it, with 70 per cent of the units already sold in the Al-Mohammadiyah district, central Riyadh.

The second project, Liwan Najd, is situated in East Riyadh on a land area spanning 151,000 square metres, with a total built-up area reaching 600,000 square metres. It comprises approximately 2,500 real estate units, including hospitality, commercial, office, administrative, educational, residential apartments and residential villas. This project’s scale is projected to achieve a sales value of SAR4.5bn. We have endeavored to integrate various segments and construction standards that are appropriate for the target demographic in East Riyadh.

As Platinum Exhibitors at Cityscape 2025, and with the presentation of Livein Liwan and Liwan Najd, what are your target segments—especially considering demand for apartments, metro proximity and housing for expatriates? How are you tailoring your designs to meet these needs?

For the past 20 years, we have been operating successfully outside the Kingdom, which has allowed us to sell and market to a wide range of nationalities. We have engaged with approximately 70 different nationalities, selling properties in the UAE, Turkey and Egypt. Consequently, we possess extensive prior experience and insight into the needs of both Saudi and non-Saudi community segments.

Therefore, we have now begun to offer studio units starting at 45 square metres, which are suitable for non-Saudi segments looking for secondary residences or accommodation for work. We also meet their requirements by creating a fully integrated project where they can live, work and access leisure, entertainment and sports facilities all within one location.

To achieve this, we offer units ranging from 45 square metres up to 250 square metres, integrating all the necessary uses for both Saudi and non-Saudi residents. This entire approach was informed by an in-depth analysis of over 5,000 customers, to identify these needs and ensure synchronisation with the nationalities expected to arrive in the future.

How do you distribute the asset mix among residential, commercial, office and entertainment components in alignment with Vision 2030? And what is the role of financial and operational partners in supporting your future projects?

Balancing the distribution of uses is a genuine challenge when integrating offices, commercial areas, hospitality and residential units. Each user requires a certain degree of privacy and tranquility. We worked closely with our engineering team and international design firms to ensure all four uses are integrated with complete independence, providing separate entrances, exits and parking for each component.

At the same time, all users can access the commercial areas via pedestrian walkways, eliminating risks from traffic. Commercial and office users can access retail shops seamlessly, making them an intrinsic part of the environment. This is fundamental to creating sustainability.

Projects that successfully combine commercial, residential and office spaces are inherently sustainable because they operate for extended hours. From 6 AM, office workers activate restaurants and open spaces. In the evenings, residents activate the restaurants and cafés, creating a vibrant environment operating for more than 18 hours per day.

Retail spaces become highly desirable for leasing. Office users benefit from enhanced services, and residents live comfortably knowing all essential amenities are nearby. This creates a sustainable living environment and high quality of life.

Regarding partners, we have successfully forged partnerships with all major banks and financial institutions. Today, we manage an investment portfolio exceeding SAR10bn allocated for real estate investments in Riyadh. Our current portfolio encompasses two projects with a combined value exceeding SAR6bn. Our goal is to build 10,000 residential units over the next five years.

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With rising global interest in Saudi real estate and premium placed on metro-linked projects, how is Liwan enhancing risk management, financing and exit strategies to attract investors and achieve long-term value?

We currently operate our development projects under the Off-Plan Sales system, which offers superior financing solutions and is optimal for risk management. When purchasing off-plan, payments are made in convenient installments. As a buyer or investor, you are not committing all your funds to a project with an uncertain timeline. You make modest initial payments, followed by phased payments tied to completion milestones. You only pay an installment upon the successful completion of that phase, which provides higher security and lower risk.

As developers, we develop projects in phases that correspond to the sales cycle. Given the strong demand, we utilise four primary financing solutions: direct investment from Liwan, bank financing, participation from initial investors and off-plan sales. These four solutions build customer confidence, accelerate purchasing decisions and ensure swift execution. Our rapid pace of project completion, alongside the performance of our contractors, further enhances confidence.

Another key strategy is our alliances. Before launching a project, we sign agreements with the finest hotels and leading hospitality operators. We also pre-lease with most commercial tenants, which adds value through the reputation and competence of these operators. These solutions build trust with our customers and ensure sustainable investment returns.

What happens when 32 million travellers stop chasing passport stamps and start chasing purpose? Instead of piling up itineraries, they’re slowing down, spending with intent, and using travel as a way to express who they are. That’s the picture Global Hotel Alliance paints in its outlook for 2026, built from insights gathered through its GHA DISCOVERY loyalty programme, which spans more than 32 million members worldwide.

The UAE’s travellers sit right at the heart of this shift. Around 68 per cent prioritise exclusivity and high-end stays, choosing access and experience over discounts. Food and culture matter too, with dining and authentic encounters ranking high on their plans for the year ahead.

Identity-driven travel is taking over

For 65 per cent of global travellers, travel is now tied to identity — not just where they go but who they are. Among Gen Z, 50 per cent even say travel ranks above career milestones, underscoring just how personal the journey has become.

Germany, the US, Thailand, the UAE and India are leading this change in mindset, where destination choice reflects values, curiosity and self-expression.

Leisure rules over business

People want to travel for pleasure, driven by experience rather than obligation. In 2026, travellers expect to take an average of six leisure trips versus four business ones. Almost half, 47 per cent, expect their leisure travel to increase, while only 12 per cent anticipate more work trips. Gen Z and Millennials will be the biggest movers — 65 per cent of Gen Z plan to travel more for fun, while Boomers favour fewer but longer restorative breaks.

International travel will remain strong, with more than 40 per cent planning overseas leisure trips, especially from China, Thailand and India.

New places beat familiar favourites

Curiosity is winning over comfort. Sixty-two per cent want to explore new destinations instead of returning to ones they know, though the 38 per cent who do return say it’s for deeper immersion.

The exploratory itch is strongest among Gen Z at 72 per cent, and in markets like India, the UAE and China. Safety and comfort still matter most at 57 per cent, followed by cultural curiosity at 41 per cent and wellness at 38 per cent.

Slow travel goes mainstream

Travellers are trading frantic sightseeing for slower, richer experiences. Around 60 per cent now prefer small cities and rural escapes over large metropolises. China stands out as the exception with 51 per cent still drawn to major urban hubs.

Forty-two per cent want relaxed, unplanned breaks, compared to 36 per cent who want packed itineraries. Malaysia leads the slowdown trend at 55 per cent, closely followed by the UK at 53 per cent, while travellers in China and the US, both at 43 per cent, still lean towards landmark-hopping.

Spending smarter, not bigger

Selective luxury is on the rise. Seventy-nine per cent say they’ll spend on meaningful upgrades, not splurge without purpose. Germany shows the highest share of free-spend travellers at 22 per cent, while 63 per cent of Asia-Pacific travellers prefer thoughtful spending. What counts as luxury is changing too. Five-star and boutique hotels still resonate at 78 per cent, but personalised service, gourmet dining and flexibility are now just as valuable.

Nearly everyone draws the line at quality — 86 per cent refuse to compromise on hotel standards.

Loyalty becomes a lifestyle

Travel loyalty is evolving from points to belonging. In 2026, 44 per cent value perks like upgrades, early check-in and late check-out the most. Seventy-three per cent would even consider travel subscriptions that offer lifestyle-focused benefits.

Recognition, exclusivity and time saved matter most — 56 per cent want convenience, 50 per cent want privileged access, and 47 per cent want to feel seen.

Technology is now part of the journey

Digital travel habits are firmly embedded. Sixty per cent have already used AI like ChatGPT or Gemini to plan trips — 79 per cent among Gen Z versus just 31 per cent among Boomers. China, Thailand and Singapore lead adoption.

Contactless payments at 56 per cent, digital keys and biometric boarding rank among the most valued innovations. And when booking, 42 per cent prefer loyalty apps or hotel sites over third-party platforms.

Asia leads global dream-trip wish lists

Asia dominates 2026 bucket lists, with Japan taking the top spot worldwide and among travellers in Thailand, Malaysia, the UAE, Singapore and Australia. China ranks second at 7 per cent, followed by Thailand at 6 per cent — together making up almost one in three dream trips.

Inspiratio,n too, has shifted. Friends and family still lead influence at 36 per cent, but Instagram now sits second at 34 per cent, ahead of traditional media. YouTube drives discovery in Japan and Thailand, while TikTok leads in China — proof that Asia is shaping not just where we go, but how we imagine our next adventure.

Kristi Gole, EVP of Strategy at Global Hotel Alliance, sums it up: “Our 2026 study paints a picture of a traveller who’s more thoughtful and values-driven than ever. They are travelling less for work, more for meaning, and choosing experiences that reflect who they are. What’s particularly exciting is how loyalty has evolved; for GHA DISCOVERY members, it’s about lifestyle, recognition, and belonging wherever they go.”