Singapore, Hong Kong woo family offices with different game plans

Visitors pose for selfies and take pictures from the rooftop of the Marina Barrage in Singapore on April 8, 2024. (Photo by Roslan RAHMAN / AFP)

SINGAPORE: Singapore and long standing rival Hong Kong are fighting tooth and nail to attract family offices, but while they share the same goal, their game plans are quite different.

Hong Kong continues to roll out the red carpet for the world’s richest families whereas Singapore, which has grown in appeal due to tensions between the United States and China, has become more discerning about the quality of funds it seeks.