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.”