Singapore continues to attract the wealth of the ultra-rich, with the number of family offices posting record growth in 2024.
At the end of 2024, Singapore was home to more than 2,000 single family offices, said Chee Hong Tat, the second minister for finance and deputy chairman of the Monetary Authority of Singapore (MAS), during UBS’ «Asia Wealth Forum». This marks a 42.9 percent year-on-year increase compared to 1,400 at the end of 2023 which grew 27 percent from 1,100 at end-2022.
«MAS wants to continue to work closely with the sector to see how we can grow further; there will be more interest from investors to look at Singapore as a key node,» Chee said during a session at the event.
