Centaline Expands into Family Office Market With a $1 Billion Target for 2025

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A Centaline property agent in Hong Kong.

Centaline Group Pty Ltd. launched a home office financial center in Hong Kong Wednesday, aiming to become a leading family office with a target of managing $1 billion in assets next year.

Recognizing the growing demand for financial investment among its high-net-worth clientele, Centaline has decided to broaden its services beyond its traditional real estate offerings, said Shih Wing Ching, its founder and chairman.

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Centaline Group launched a home office financial center in Hong Kong, targeting $1 billion in assets by next year, shifting from real estate to diversified financial products.
Hong Kong government aims to enhance its status as an international financial center, targeting to aid 200 companies in creating or expanding family offices by 2025, alongside new tax incentives.
Hong Kong's wealth management sector remains strong despite market challenges, with total assets under management rising by 2.1% in 2023 to HK$31.19 trillion.

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Who’s Who

Centaline Group Pty Ltd.: Centaline Group Pty Ltd., founded in 1978, launched a new home office financial center in Hong Kong to diversify beyond real estate. With a strong presence in the home agent market, the company aims to manage $1 billion in assets by next year, initially partnering with 10+ private banks. This move aligns with Hong Kong's strategy to bolster its status as an international financial center.

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What Happened When

1978：: Centaline Group Pty Ltd. was founded.

March 2023：: The Hong Kong Financial Services and the Treasury Bureau issued a policy statement outlining measures to promote the development of family offices.

May 2023：: Hong Kong’s Legislative Council passed a bill exempting qualifying investment projects managed by single-family offices from profits tax.

Wednesday (referencing the launch date in the current week of publication)：: Centaline Group Pty Ltd. launched a home office financial center in Hong Kong.

May 2024：: The Hong Kong Financial Services and the Treasury Bureau’s family office team fielded more than 750 inquiries and helped 89 family offices establish or expand their operations in Hong Kong.

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