Family offices expand beyond trophy assets into living sector, logistics, private credit

/ EdgeProp Singapore

June 27, 2026 2:03 PM SGT

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Australia is "one of the most compelling" markets in Asia Pacific for family office capital, says Ho Group’s Ho Ninghao. (Photo: Pexels)

More family offices are evolving from wealth preservation vehicles into powerful cross-border investors with growing influence over real estate markets worldwide.

This comes as affluent families adopt a more institutional approach to investing, backed by professional investment teams, sophisticated governance structures and global networks.

It also means a new crop of family-office leaders are looking beyond passive holdings and traditional trophy assets — iconic, coveted properties in prestigious locations that command premium pricing.

The Asia Pacific Real Assets Association's (Aprea) recent trend report highlights a growing focus on opportunities where operational expertise, local knowledge, cross-border partnerships and long-term capital can create value and generate resilient income streams.

Investing in long-term trends

In particular, more capital is flowing to the living sectors — including residential, co-living, student housing, hospitality, and self-storage — as well as digital infrastructure, logistics assets, private credit and operational real estate.

"Investors seek stable cash flows and exposure to long-term demographic and technological shifts," Aprea notes.

Yvonne Siew, managing director and head of product development and wealth markets, private capital markets, at CapitaLand Investment, sees family offices balancing growth with resilience while broadening exposure to living and experience-driven assets.

"Alongside technology themes such as digital infrastructure, AI and healthcare, there is rising interest in living sectors … supported by urbanisation, mobility and lifestyle shifts," she shares in the report.

In tandem, logistics real estate, essential infrastructure and private credit also remain core, as they offer steady cash flows and portfolio diversification, Siew adds.

This mirrors findings in a recent family office survey by property consultancy Knight Frank, in which interviewees said their investment strategies were becoming more targeted and thematic.

The survey respondents were keen on data centres, value-add projects and operational real estate sectors where income is supported by underlying demographic or economic trends. Student accommodation, logistics and distribution assets, as well as healthcare-linked real estate were cited as some of the examples.

Next-generation leaders take a broader view

In Southeast Asia, family offices are looking to capture growth opportunities across multiple markets rather than concentrating exposure in a single country.

The growth of its ultra-rich population is likely to quicken in the next five years, driven by entrepreneurship, maturing capital markets and expanding domestic economies, according to Knight Frank’s latest wealth report released this April.

"Southeast Asia has been on investors' radar for many years, but I feel the region is entering a particularly exciting period," says Goh Wee Ping, chief investment officer of diversified real estate group Wee Hur Holdings, in the Aprea report.

"We are seeing a new generation of leaders and entrepreneurs who have grown up more connected to the world, with greater access to international education and global networks," adds Goh, who is also CEO of Wee Hur's fund management arm, Wee Hur Capital.

In his view, this connectivity is gradually reducing barriers to cross-border investment and creating new opportunities for private capital, even as local market expertise continues to be important.

At the same time, the next generation of family office leaders is giving more weight to sustainability and long-term relevance, alongside returns.

Ho Ninghao, group managing director of family office and real estate investment firm Ho Group, notes: "Intergenerational wealth preservation requires both discipline and adaptation."

When executed well, sustainability, operational excellence, and return generation can reinforce each other and are not separate objectives, Ho continues.

Building global portfolios

In Australia, family offices are uncovering promising areas of investment in less crowded corners of the market.

In Ho's view, Australia's appeal extends beyond traditional property ownership. One area of interest is private credit backed by first mortgages, particularly loans financing high-end residential developments in Sydney.

The combination of elevated interest rates, conservative lending structures and a chronic shortage of premium housing in Australia has created favourable conditions for investors seeking stable, asset-backed income streams.

"Australia remains one of the most compelling markets in Asia Pacific for family office capital," Ho says, pointing to the transparent, liquid and institutional-grade property market in the country, as well as its other strengths such as political stability and a growing tech-skilled workforce.

“For long-term investors like Ho Group, the opportunity is not simply to buy exposure, but to identify under-appreciated assets and reposition them for future demand growth,” he adds.

Meanwhile, tax considerations, geopolitical diversification, lifestyle preferences and investment opportunities are prompting wealthy families to establish an increasingly international footprint.

The increasing mobility of capital and people is reinforcing the role of major wealth hubs such as Singapore and Hong Kong.

Both cities continue to be the preferred hubs for family offices in Asia Pacific, given the regulatory clarity, investor-friendly policies and deep professional ecosystems, says Siew from CapitaLand Investment.

And as portfolios become increasingly global, successful cross-border investing will hinge on governance, due diligence and trusted partnerships.

"Alignment is the starting point," says Ho. "Cross-border partnerships can be very powerful, but they are not for every family office."

He believes successful partnerships are built on shared investment philosophies, compatible risk appetites and transparent decision-making.

Ho Group's cross-border partnerships with institutional investors have been grounded in leadership alignment and a focus on creating values through market cycles — rather than on short-term transactions, he adds.

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