Citi Wealth has published its 2025 Global Family Office Report, providing insights into the strategies and priorities of some of the world’s most sophisticated investors. Produced by Citi Wealth’s Global Family Office Group—which works with more than 1,800 family offices globally—the report highlights investment sentiment, portfolio actions, and operational best practices against the backdrop of geopolitical tensions, trade policy uncertainty, and rapid technological transformation.

This year’s edition is based on a record 346 survey responses from family offices across 45 countries, conducted in June and July 2025. It captures how investor expectations and strategies have shifted following recent U.S. tariff announcements.

“These are exciting times for family offices worldwide—especially in the Middle East. A high proportion of first-generation families continue to control wealth, reflecting a resurgence of wealth creation in the region. At the same time, the UAE is experiencing a significant inflow of wealthy individuals relocating from abroad, further reinforcing its position as a global hub for family offices,” said Hannes Hofmann, head of Citi Wealth’s Global Family Office Group. “These sophisticated clients are finding new ways to address their families’ ever-increasing expectations. We are proud to partner with them, drawing upon Citi’s global reach and deep resources to help them seize potential opportunities and achieve their ambitious goals.”

Key findings from the 2025 report:

• Generational control of wealth: Europe, the Middle East and Africa (56 per cent) had the highest proportion of first-generation families in control, while Asia Pacific led in second-generation control (43 per cent), signaling market maturity.

• Geopolitical concerns: Trade disputes (60 per cent), U.S.-China relations (43 per cent), and inflation (37 per cent) ranked as top issues. This has spurred renewed focus on asset location and jurisdictional strategy.

• Steady allocations: Most family offices held allocations steady while awaiting clarity on trade policy. Among those making changes, private equity saw the most bullish activity.

• Optimism for returns: Despite uncertainty, family offices remain upbeat, citing potential US deregulation, rate cuts, and advances in AI as reasons for optimism.

• Active volatility response: US tariff moves triggered adjustments, with 39 per cent increasing active management, hedging, and shifts to defensive geographies.

• Direct investing: 70 per cent of family offices are engaged in direct deals, with 40 per cent increasing activity in the past year.

• Professionalisation gaps: More progress is needed in areas like risk management, cybersecurity, and succession planning.

• Outsourcing services: Many family offices are considering external support, though decision-making largely remains in-house.

• AI adoption: The share of offices deploying AI doubled year-on-year, particularly in operational automation and investment analytics.

Almost all respondents anticipated portfolio gains over the next 12 months, with nearly 40 per cent expecting returns of 10 per cent or more, though sentiment toward individual asset classes was more muted than in 2024.

“Family offices globally remain highly focused on direct investing, as they seek exposure to the key transformative technologies of tomorrow and attractively valued companies across sectors,” said Dawn Nordberg, Head of Integrated Client Engagement for Citi Wealth. “We have a specialist team that works alongside colleagues from Citi’s world-class investment bank. Our mission is to enable our sophisticated family office clients to access proprietary private capital raises, asset divestitures and thought leadership across industries and geographies to support their direct investing.”

Risk remains a core challenge. While 70 per cent cited investment-related risks, operational (37 per cent) and family-related risks (33 per cent) followed closely. However, around half admitted being underprepared for cybersecurity, personal security, and geopolitical threats, reflecting resource constraints.

“Our survey reveals ongoing professionalisation among family offices, particularly in the investment function,” said Alexandre Monnier, Head of Global Family Office Advisory for Citi Wealth. “It also identifies areas where further development is crucial, such as risk management and talent acquisition for non-investment services. Our findings can help frame the discussion for those seeking to formalise their operations, prepare their family’s future leaders and preserve and grow generational wealth.”

NBA legends including Oscar Robertson, Derrick Rose and Mark Jackson will headline activities at “NBA District” during the NBA Abu Dhabi Games 2025 presented by ADQ, the National Basketball Association (NBA) and the Department of Culture and Tourism – Abu Dhabi said in a statement.

The fan event will run from October 2 to 5 at Manarat Al Saadiyat alongside preseason games between the New York Knicks and the Philadelphia 76ers on October 2 and October 4 at Etihad Arena.

Other former NBA players set to attend include John Starks, Rudy Gay and Michael Carter-Williams. They will take part in interactive sessions with fans, panel discussions and on-site activities.

Activities at NBA week

“NBA District,” which returns for a fourth year, will feature a full-size NBA court, photo opportunities with the Larry O’Brien Trophy, limited-edition merchandise, and cultural programming. Concerts and performances are also planned, including a “Friday Night Concert” on October 3, featuring Siilawy, Tul8te, DJ Jack, Stick No Bills and DJ D-Nice.

A “Sunday Coffee Social” on October 5 will showcase local DJ Abu Dhabi House Movement.

Special packages offering VIP access and hospitality are available at nbaexperiences.com.

Tickets for the NBA Abu Dhabi Games are on sale on the etihad arena website and ticketmaster.ae.

Read: How NBA is deepening connections with Middle East basketball fans

Abu Dhabi’s real estate sector recorded Dhs54bn ($14.7bn) worth of transactions in H1 2025, up 42 per cent from a year earlier, according to the inaugural market report from the Abu Dhabi Real Estate Centre (ADREC).

The report, released on Tuesday, said residential sales reached Dhs25bn, a 38 per cent year-on-year increase, marking a new semi-annual record.

Demand growth of around 6 per cent across the emirate continued to outpace supply growth of 2.6 per cent, underscoring opportunities for further development.

Residential inventory in the emirate stood at about 400,000 units at mid-year.

Apartment prices rose 14 per cent year-on-year in Q2 2025, while villa and townhouse prices climbed 11 per cent.

Future supply is projected to rise by 4.6 per cent through 2028, adding 45,000 to 55,000 units.

Abu Dhabi setting new records in sales volume and value, says ADREC DG

“Abu Dhabi’s real estate market continues to demonstrate its strength, setting new records in both sales value and volume,” said Engineer Rashed Al Omaira, acting director general of ADREC. “This inaugural report is a new benchmark for transparency and gives our stakeholders the clarity and information they need to invest with confidence.”

High-value master planned communities were a key driver of activity, with the top 10 developments contributing about half of total residential unit sales in H1.

Al Hudayriat Island led with Dhs2.4bn in sales, followed by luxury and mixed-use projects including Bal Ghaiylam, Mamsha Gardens and Saadiyat Lagoons.

Rental demand also grew, with lease values rising 6 per cent year-on-year to Dhs8.2bn in H1.

Apartment rents have increased 21 per cent over the past two years, while villa and townhouse rents are up 7 per cent.

Cash remained the dominant payment method, accounting for 81 per cent of total sales.

The analysis was produced using ADREC’s proprietary AI tools, designed to cleanse and enrich national datasets for more accurate market insights.

Established in 2023 under the Department of Municipalities and Transport, ADREC serves as the custodian and regulator of Abu Dhabi’s real estate sector, with a mandate to enhance transparency and efficiency in the market.

Aldar Investment Properties (AIP), a subsidiary of Aldar Properties, has raised $290m through taps on its existing green sukuks maturing in 2034 and 2035, the company said.

The issuance was 2.8 times oversubscribed, attracting $830m in orders, with regional and international investors representing 52 per cent and 48 per cent of allocations respectively.

The 2034 green sukuk tap priced at a yield of 4.89 per cent, or 87 basis points over benchmark US Treasuries, while the 2035 tap priced at 4.95 per cent, also implying an 87 basis points spread. Aldar said this marked its tightest-ever spread for a public debt issuance and the lowest secured by any real estate company in the Middle East.

Proceeds will be deployed under Aldar’s Green Finance Framework, including refinancing sustainability-accredited assets. To date, Aldar has invested over Dhs50m in retrofitting 69 properties with energy efficiency measures, in line with its net zero goals.

“Aldar’s ability to attract strong demand from a broad base of investors underlines confidence in our strategy and investment-grade standing,” said Faisal Falaknaz, chief financial and sustainability officer at Aldar Properties. “By strengthening liquidity on a counter-cyclical basis, we are ensuring the flexibility to pursue growth while remaining resilient through cycles and committed to our sustainability agenda.”

Abu Dhabi Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan and Standard Chartered acted as joint lead managers and bookrunners. International investors included an anchor order from Brevan Howard Abu Dhabi.

The deal adds to recent capital-raising that has left Aldar with close to Dhs30bn of available liquidity, the company said.

Aldar increases its stake in Aldar Estates

In other news, Aldar announced it had increased its stake in Aldar Estates, the region’s largest integrated real estate services company, to 82.55 per cent after acquiring Modon Holding’s 17.45 per cent indirect shareholding through ADNEC Group.

Aldar Estates now manages more than 155,000 residential units, a 15 per cent rise over the past two years, and has doubled prime retail and commercial leasable space to two million square metres.

In 2024, the business generated Dhs2.6bn in revenue and Dhs400m in EBITDA.

“Aldar Estates is on a strong growth trajectory, driven by rising demand for facilities management, property management, and community services,” said Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment.

The platform manages over Dhs3bn worth of active contracts and is part of Aldar Investment’s Dhs47bn portfolio of income-generating assets.

Read: Aldar reports 24% rise in H1 net profit, revenue grows 42% YoY

Gold prices rose on Wednesday, hovering near record highs, as expectations of further rate cuts persisted despite US Federal Reserve Chair Jerome Powell’s cautious remarks, while geopolitical uncertainty continued to underpin demand for the metal.

Prices were recovering from an earlier low of $3,750.49 hit during the session, amid profit-taking following its record high of $3,790.82 on Tuesday.

Read more-Markets shift: Gold sinks while dollar surges after Fed’s rate projections

US gold futures for December delivery edged down 0.2 per cent to $3,808.

“Gold is currently driven largely by monetary policy expectations in the United States, with some influence from political risk,” said Capital.com analyst Kyle Rodda.

“Hawkish rhetoric from US President Donald Trump regarding NATO defense may be slightly raising geopolitical stakes, and these factors are supporting the market.”

NATO warned Russia on Tuesday that it would use “all necessary military and non-military tools” to defend itself, as Trump shifted rhetoric by asserting Ukraine could recover all territory occupied by Russia.

Powell said on Tuesday the central bank needed to continue balancing the competing risks of high inflation and a weakening job market in coming rate decisions, even as his colleagues staked out arguments on both sides of the policy divide.

The US weekly initial jobless claims report is due on Thursday, followed by the Personal Consumption Expenditures index, the Fed’s preferred inflation gauge, on Friday.

“If Friday’s data indicates inflation is rising more than policymakers might prefer, possibly due to tariffs, it could exert downward pressure on gold,” said Rodda.

Goldman Sachs said in a note dated Tuesday it expects 25 basis point of cuts in October and December, with a 50 basis point reduction possible if the labour market deteriorates more than anticipated, followed by two cuts in 2026 to a range of 3 per cent-3.25 per cent.

Gold, considered a safe-haven asset during broader uncertainty, tends to perform well in low-interest rate environment.