Dubai - Equitativa Group, a leading regional asset management company that focuses on managing real estate investment trusts (REITs), has entered into a joint venture with Stern Resources Inc, a New York based investment holding company, to establish a USD 500 Million REIT structure in Indonesia and acquire commercial, retail, and hospitality properties.
Indonesia represents a prime opportunity for real estate investors due to a favorable combination of demographic trends, market fundamentals and changing regulatory environment. With the world's fourth largest population, a rapidly growing middle class, high expected economic growth, a relatively stable currency to the dollar and high net operating incomes in relation to acquisition cost, Indonesia represents a large and often unrealized opportunity.
The partnership will combine Stern Resources’ deep local ties and experience in Indonesian real estate with Equitativa’s track record of successful REIT management in emerging markets. Equitativa has managed multiple REITs in a variety of emerging markets generating outsized returns and bringing a history of institutional experience in REIT management alongside a consistent track record of success, all highly attractive to its worldwide investor pool. Stern Resources also has an extensive track record of engaging in successful ventures in multiple industries across the world, including those in the real estate sector and in Indonesia, built upon its deeply rooted understanding and appreciation for building businesses.
Sylvain Vieujot, founder of Equitativa, says: “This joint venture represents an exciting and natural evolution for Equitativa Group enabling us to leverage our extensive experience in entering and developing new emerging markets with excellent potential. We have found in Stern Resources a great ally and we are very excited for the future of this venture and the impact it will generate.”
Hartadinata Harianto, Director of Stern Resources Group, adds: “The collaboration with Equitativa Group fits seamlessly with Stern Resources’ strategy of partnering with talented regional asset management companies. Equitativa has demonstrated excellent ability in entering new markets and creating attractive risk-adjusted, income-generating financial products for public investors alongside liquidity and diversification for asset owners.”
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About Equitativa Group
Equitativa is a leading regional REIT manager, offering innovative risk-adjusted, income-generating products that cater to institutional and retail investors. Equitativa founded Emirates REIT, listed on NASDAQ Dubai in DIFC, making it the largest REIT manager in the Gulf Cooperation Council (GCC) and biggest Sharia Compliant REIT manager globally. Additionally, Equitativa manages The Residential REIT, incorporated in Abu Dhabi Global Markets. Equitativa has approximately US $2.0B of AUM and is further diversifying its REITs by launching hospitality, logistics and other REITs in emerging markets.
About Stern Resources
Stern Resources Inc is a diversified holding company that engages in ventures across multiple industries globally. The ventures include companies and assets in Consumer and Retail, Energy, Healthcare, Real Estate, Financial Institutions, and Industrials. The firm’s current focus is the U.S. and emerging markets including the UAE, Thailand, Indonesia, Malaysia, and Vietnam.
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