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Blackstone announced the opening of an office in Dubai’s DIFC that will function as the hub for its private wealth operations across the GCC, the company said in a statement. The development marks the firm’s second location in the UAE, complementing its presence in Abu Dhabi that dates back to 2010. Blackstone has built more than 40 distributor relationships with leading regional banks to support its expanding private wealth activities in the area.
Jon Gray, president and chief operating officer at Blackstone, pointed to the UAE’s growing stature in global finance. “The UAE has built an extraordinary position as a global finance and investment hub and is becoming an increasingly important center for wealth management,” Gray said. “We are proud of our presence in the country since 2010. Our new Dubai office builds on that longstanding commitment, allowing us to deepen our partnerships and broaden access to alternatives for investors across the GCC.”
His Excellency Arif Amiri, chief executive officer of the DIFC Authority, described the move as reflective of Dubai’s strategic role. “The opening of Blackstone’s regional Private Wealth office in DIFC reflects Dubai’s role as the gateway for global investment firms seeking to capture opportunities across the region,” Amiri said. “As home to the region’s largest concentration of wealth and asset management firms, DIFC is the preferred base for firms seeking to deepen relationships with investors across the GCC and contribute to the increasingly important role private capital plays in supporting economic growth, investment and long-term value creation.”
Blackstone manages nearly 1.4 trillion dollars in total assets, with its private wealth business overseeing 330 billion dollars or about one quarter of that total, a Bloomberg assessment found. According to the Boston Consulting Group’s Global Wealth Report 2026, UAE net wealth is projected to reach 6 trillion dollars by 2030 at a compound annual growth rate of 10.6 percent from 3.6 trillion dollars in 2025. The consultancy’s data further places UAE financial wealth at 1.4 trillion dollars in 2025, on track to hit 2.1 trillion dollars by 2030.
The firm recorded capital commitments from the region at all-time highs over the past year and upgraded its Abu Dhabi licence to bolster deal sourcing, Blackstone said in the statement. The company also disclosed plans announced earlier in 2026 to establish an office in Kuwait, with additional GCC expansion expected in the coming months. A separate Ocorian report projected that private assets across the Middle East will double by 2030, fueled by diversification efforts and rising allocations from sovereign wealth funds, institutions and family offices.
BlackRock’s Aladdin research unit noted that family offices constitute nearly half of active private capital investors based in the Middle East as of 2026, with strong interest in private equity, real estate and infrastructure. Blackstone has completed multiple GCC transactions in recent months spanning data centres, logistics, property and aviation, according to multiple industry trackers. The new DIFC outpost aligns with these activities by facilitating greater distribution of the firm’s alternative products to ultra-high-net-worth individuals and entities throughout the Gulf.
