The postponement of the establishment of a family office by Dubai Prince Sheikh Ali Al Maktoum (Prince Ali) in Hong Kong has attracted attention.
The South China Morning Post quoted three senior officials as saying that the Hong Kong government is conducting a rigorous background check on Prince Ali’s plan to set up a $500 million family office in Hong Kong, which may offend other overseas investors and damage Hong Kong’s reputation as a financial center.
It is reported that officials emphasized that the government welcomes the potential investment of Prince Ali and other Middle Eastern businessmen, while also acknowledging that the government needs to be “more sensitive and cautious” to avoid any unnecessary controversy.
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