Blackstone plans Dubai office as it eyes further Gulf expansion, sources say
BX•U.S. firm plans to keep Abu Dhabi base
A Blackstone spokesperson told Reuters the company does not comment on speculative reports.
The sources said the U.S. company will retain its office in Abu Dhabi, home to the vast majority of the UAE's oil reserves and where sovereign funds are estimated to collectively manage more than $1.8 trillion in assets.
Dubai office plan would expand Blackstone's Gulf presence
Dubai office plan would see Blackstone return to the Gulf's largest business hub after years.
The world's largest alternative asset manager, Blackstone, plans to set up an office in Dubai's International Financial Centre, in a return to the Gulf's largest business hub that would strengthen its regional presence, two sources with direct knowledge told Reuters.
Since Blackstone left in 2019 to set up base in fast-growing Abu Dhabi, Dubai has seen relentless growth after the COVID-19 pandemic, bolstered by ambitious investment plans and government-led residency reforms.
