While global headlines focus on geopolitical tensions between the US and the Middle East, a quieter shift is unfolding in Singapore’s private markets.

High-net-worth capital—particularly from investors with Middle Eastern exposure—is rotating away from traditional growth assets into Singapore commercial real estate. Much of this activity is not visible in public transaction data, instead moving through private co-investment structures and family office mandates.

On Industry Insight, Lynlee Foo speaks to Maureen Li, Founder and CEO of ABIEL Property Investment Fund to find out how the rapid rise of family offices is reshaping capital flows in the city-state.