Beyond Oil: Why Gulf Family Offices Are Doubling Down on US Logistics, Data, and Housing

Middle East family offices are expanding beyond legacy real estate and directing capital into next generation US sectors including data centers, logistics, and student and workforce housing, driven by energy transition strategies, demographic resilience, and long-term value creation.

For decades, real estate has been a familiar asset class for Middle East investors. But today, family offices across the Gulf are rewriting that playbook. They are moving beyond trophy assets and reallocating capital into the structural themes shaping global real estate, including decarbonization, digitization, and demographic demand.

This is not simply diversification; it is a strategic pivot informed by post-oil national visions, ESG alignment, and a focus on long term resilience.

Consistent with these themes, and according to the 2025 UBS Global Family Office Report, Middle Eastern family offices continue to maintain their allocation concentration in North America, rising from 49% in 2024 to 55% in 2025 (Exhibit 1).

As part of this slight but notable rise in allocations, Gulf family offices—especially those from Saudi Arabia, the UAE, and Qatar—are now concentrating their US allocations into sectors