Dubai – Mubasher: Equitativa, the manager of Emirates REIT, on Tuesday announced signing an agreement with Hong Kong-based Affluent Partners Holdings Limited to launch a new real estate investment trust (REIT).
Named “Belt & Road REIT”, the new REIT will invest in property assets along the new Eurasia trade corridor of China’s Belt & Road Initiative, the largest REIT manager in the GCC said in a statement, giving no further details on the capital of the new fund.
“Affluent Partners Holding Limited will function as an advisor and will work closely with Equitativa which will be setting up the new REIT,” the statement highlighted.
The deal aims to create favourable investment opportunities for shareholders in these emerging markets by establishing one or more REITs along the Eurasia countries, Equitativa said.
“Affluent Partners Holding Limited will be facilitating the implementation of the REITs, referring clients for investment and identifying assets to seed the REIT,” the statement said.
During the nine-month period ended September 2018, the property income of the world’s largest sharia-compliant real estate investment trust grew 19% to a total of $52.1 million, compared to $43.9 million in the prior-year period, Equitativa previously said in a statement.
