Octagon, a family office advisory firm, has officially entered the UAE market, according to Citywire Middle East. The firm offers a ‘family office as-a-service’ (FOAS) model, providing outsourcing services such as asset management, business development, corporate services, and lifestyle management, including education, health, and real estate.
This formal launch follows several months of preliminary activities, as stated by the firm on July 25. The UAE has become a hub for global family wealth, driven by favorable policies, especially in Abu Dhabi Global Market (ADGM) and Dubai International Financial Centre (DIFC), which support international regulatory frameworks.
“Modern families are increasingly attracted to the UAE and seek innovative advisors and services,” said Ekaterina Chernova, co-founder of Octagon. “Our FOAS model has been highly appealing, addressing their complex needs.”
Headquartered in the UAE, Octagon also operates across Europe, Asia, North and South America, and Southern Africa. Family offices, both single and multi-family, are becoming more active and sophisticated in their investment strategies. Citi’s global single-family office clients, including those in the Middle East, increased their equity exposure in early 2024, reducing cash holdings amid a bullish market. Additionally, Middle Eastern family offices have the highest global real estate allocation at 15%, according to a May 2024 UBS Global Family Office report.
