Dubai – Equitativa, the largest REIT manager in the GCC and manager of Emirates REIT, announced that it has entered into an agreement with Hong Kong-based Affluent Partners Holdings Limited to launch a new real estate investment trust (REIT) that will invest in property assets along the new Eurasia trade corridor of China’s Belt & Road Initiative.
An official signing ceremony was held today at Equitativa’s offices in Index Tower in Dubai between top executives from both groups, to mark the launch of the initiative, fittingly named “Belt & Road REIT”. The Affluent Partners Holdings Limited’s team flew to the UAE specially to celebrate this new collaboration.
The agreement aims to create favourable investment opportunities for shareholders in these emerging markets, by setting up one or more REITs along the Eurasia countries. Affluent Partners is mainly engaged in operating strategic investments and financial services with a large network in China and across Asia.
Affluent Partners Holding Limited will function as an advisor and will work closely with Equitativa which will be setting up the new REITs. Affluent Partners Holding Limited will be facilitating the implementation of the REITs, referring clients for investment and identifying assets to seed the REITs. Equitativa or its affiliates will be appointed as REIT manager and be responsible for establishing and managing the REITs.
Sylvain Vieujot, Group Chairman of Equitativa, commented: "The establishment of the ‘Belt & Road’ REIT and the collaboration with Affluent Partners is very exciting for us and marks a new chapter for Equitativa in Asia and emerging markets. Working with Affluent Partners will increase our fund raising capabilities in Asia and gives us the opportunity to identify more assets that can maximise the value for our shareholders.”
Stephen Yuen, Chairman of Affluent Partners Holding Limited, said: “Affluent Partners is delighted to be working with such an experienced REIT Manager on the Belt and Road REIT initiative. We have observed the quality of the assets managed by Equitativa and have a very positive outlook for this new collaboration which will further entrench the excellent relationship between businesses in the UAE and Asia.”
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About Equitativa Group
The Equitativa Group is a leading regional asset manager focused on creating and managing real estate investment trusts (REITs). The group offers innovative risk-adjusted, income generating financial products that cater to institutional and retail investors. As the founder of the UAE’s first Shari’a compliant REIT, Emirates REIT, established in the DIFC, Equitativa is today the largest REIT Manager in the Gulf Cooperation Council (GCC) countries and the biggest REIT Manager for Shari’a Compliant REITs in the world. Equitativa has about USD 2 billion of assets under management in the UAE including Emirates REIT and The Residential REIT, the latter incorporated in Abu Dhabi Global Markets. Equitativa is further diversifying its REITs by launching a hospitality REIT, a logistics REIT, and several other REITs in emerging markets.
About Emirates REIT
Emirates REIT, (NASDAQ Dubai: REIT; ISIN: AEDFXA1XE5D7), the world’s largest Shari'a compliant Real Estate Investment Trust, is a Dubai-based real estate investment trust established to invest in principally income-producing real estate in line with Shari'a principles. It currently owns freehold or leasehold properties comprising commercial, education and retail assets. Emirates REIT benefits from an exclusive Ruler's Decree’s permitting it to purchase properties in onshore Dubai and Ras Al Khaimah.
About Affluent Partners Holdings Limited (stock code: 1466)
Affluent Partners Holdings Limited and its subsidiaries is one of the world's largest merchants, purchasers and processors of pearls. The Company was listed on the Main Board of the Stock Exchange of Hong Kong Limited in October 2014. Starting from FY2017, the Group has commenced to engage in the operation of strategic investment and financial services segment and has invested in the realty market in the United Kingdom through the subscription of an investment fund and loan notes.
For more details about Affluent Partners, please visit its official website: www.affluent-partners.com/
For enquiries please contact:
Leigh Harding
Equitativa Real Estate Limited
+971 4 405 7348
media@equitativa.com
Randa Mazzawi / Nicola Ellegaard
Borouj Consulting
+971 4 340 3005 / +971 50 4506120
randa@boroujconsulting.com
nicola@boroujconsulting.com
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