Blackstone (NYSE: BX) announced plans to open an office in Kuwait through the Kuwait Direct Investment Promotion Authority (KDIPA), expanding its presence in the Gulf Cooperation Council region.

The firm expects the Kuwait office to open in the third quarter of 2026. Blackstone also stated it intends to announce additional office openings across the GCC over the coming year.

Jon Gray, President and COO of Blackstone, said: "Kuwait has the resources, vision and leadership to be a key commercial and financial hub in the region. Private capital can play an important role to support the country's long-term economic diversification efforts and we look forward to deepening a partnership that spans nearly four decades."

H.E. Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director General of KDIPA, said: "Leading global companies' presence in Kuwait reflects growing confidence in its long-term outlook. It further reinforces Kuwait's position as a destination for investment and sustainable growth."