Dubai prince’s Hong Kong office will not open in foreseeable future: emirate representative

“However, our interest in exploring business ventures and opportunities in Hong Kong, mainland China, and Southeast Asia remains strong.

“The office is dedicated to enhancing relationships in these regions through business partnerships.”

The representative did not explain why the prince had changed his mind about opening an office in Hong Kong.

But it said that “all operations under the Office of Sheikh Ali Al Maktoum must adhere to the highest quality standards of compliance”.

The office did not elaborate on whether the original plan had failed to meet the compliance standards required.

The statement also did not say if the prince would eventually open an office in Hong Kong, or, if he did, what its business would be and on what scale.

But the office insisted that “we remain committed to our business activities in Southeast Asia”.

The prince came under the media spotlight after he announced the US$500 million plan to open a Hong Kong office to look for investment opportunities in the Asia region in a Bloomberg interview in March.

The office was said to be looking for opportunities in sectors such as artificial intelligence, electric cars, fintech, and construction.

Hong Kong would have also been the first foreign outpost for the prince’s operation and the family office was said to have already started talks with potential target companies.

The sheikh visited the city for the Hong Kong government-organised Wealth for Good in Hong Kong Summit in March.

But his private office made the shock announcement that the planned opening in Hong Kong was postponed on the eve of the scheduled inauguration ceremony at the family office in Sheung Wan on March 28.

Maktoum’s private office said at the time the last-minute change was because of “urgent matters” in Dubai that required his attention.

“It was decided that the opening will commence by the end of the month of May 2024,” the office said later.

But there has been no news about the return of the prince or the opening of the office since then.

The March ceremony’s postponement and coverage of Maktoum’s apparent alter ego as singer-songwriter Alira before he transitioned to a sustainability focused investor last year sparked questions about the strength of his commitment to the investment.

Eleanor Jane Mak, at the time the CEO of the prince’s Hong Kong operation, said in May he would return to the city “in the coming weeks” to inaugurate the family office, meet potential business partners and take part in charity work.

But she also suggested that the exact dates could fall in June because of scheduling and other considerations.

But the next day a Dubai-based protocol officer for the prince said Mak was not authorised to talk on the prince’s behalf about his plans to return to the city and had “no charges” in his companies.

A Post reporter days later found that the sign at Maktoum’s Sheung Wan office had been taken down from the spot it had occupied in the reception area since at least March.

Maktoum’s website, which has been unavailable since at least late March, on Monday remained “under maintenance”.

The statement from Dubai also asked that inquiries should be directed to the protocol department at Maktoum’s Dubai office and warned of legal action against anyone who spread false claims.

Mak has been contacted for comment.