The Dubai International Financial Centre (DIFC), during its hosting of the Family Wealth Centre Summit, unveiled several leading initiatives and partnerships aimed at enhancing Dubai's position as a premier destination in the Middle East, Africa, and South Asia for family wealth, next-generation leadership, and succession planning. Among the initiatives is the 'Next Generation Leaders' program, developed in collaboration with partners including PricewaterhouseCoopers, Al Tamimi & Company, and 'Hukooma'. Scheduled for launch in early 2026, the program aims to empower the next generation of leaders in family businesses through intensive training, mentorship, and models for applying global best practices focusing on governance, innovation, and intergenerational management transition. The DIFC also revealed a comprehensive digital platform, including a website and a mobile application, which will provide seamless access to the Family Wealth Centre's services, educational programs, publications, and events. This is complemented by the upcoming 'Concierge Services' (Personal Assistant), designed to enhance the value that the DIFC provides to family offices and high-net-worth individuals by offering personal support in business, daily life, and affairs within the DIFC ecosystem. To foster cooperation and partnerships, the DIFC announced the signing of memoranda of understanding with several partners. The Dubai Land Department has entered an agreement allowing families and high-net-worth individuals to utilize the DIFC's legal structures for property ownership. The agreement with Dubai's General Directorate of Residency and Foreign Affairs is expected to facilitate the visa acquisition process for gold visas for members of the DIFC Family Wealth Centre. Banks Emirates NBD, Standard Chartered, and Mashreq will expand their collaboration with the DIFC Family Wealth Centre in education, governance, and customized financial solutions for family businesses. Furthermore, the DIFC launched the 'Advisory Council', a select group of regional and international experts who will provide strategic guidance to the centre and strengthen its role as a global platform for family wealth management and thought leadership in the field. In his welcoming address to the summit's delegates, DIFC Governor Essa Kazim said: 'Family businesses have always been a cornerstone of Dubai's journey of growth and development, contributing to the emirate's prosperity and building its global reputation across generations.' He added: 'As our region approaches a historic wealth transfer between generations, estimated at around a trillion dollars, the DIFC continues its commitment to providing sound governance, access to expertise and consultations, and world-class organizational structures that enable families to preserve and grow their legacy for generations to come.' It is noted that over 1,250 family entities, including many global institutions serving individual clients, are headquartered in the DIFC. The 120 wealthiest families based in the DIFC collectively manage assets worth over $1.2 trillion globally, significantly contributing to the UAE's economy, where the family business sector accounts for approximately 60% of GDP and employs around 80% of the national workforce.
