Beaufort Global Partners (BGP) and Fields of Gold Capital & Asset Management (FOG) have signed a Memorandum of Understanding (MOU) to establish a cross-border Pre-REIT and Hospitality and Commercial REIT platform within the Dubai International Financial Centre (DIFC)/Abu Dhabi Global Market (ADGM).
The partnership, jointly led byRené Beil, Managing Director of Beaufort Asset Management, and David Chen, Chairman and CEO of Fields of Gold Capital, represents a new milestone in institutional investment cooperation between the United Arab Emirates and China, underscoring the strengthening economic and financial relations between the two nations.
Under
the MOU, both parties will serve as Founding General Partners in developing a
two-stage investment structure aimed at bridging Middle Eastern and Asian
capital markets and enabling institutional investment in high-quality
hospitality and real estate assets.
“This
partnership demonstrates Dubai’s growing global position and sophistication as
a financial bridge between Middle East and Asia,” said Beil. “The REIT platform
within the DIFC/ADGM jurisdiction will create a transparent, regulated pathway
for cross-border institutional investment into hospitality real estate.”
“We
are delighted to partner with Beaufort Asset Management in developing this REIT
investment platform,” said Chen. “Our shared vision is to integrate Asia’s capital
market depth and proven REIT platform framework with the UAE’s well-established
financial framework, fostering responsible growth and delivering long-term
value creation for investors worldwide and regional LPs.”
The
REIT initiative will focus on hospitality, mixed-use and commercial real estate
assets across the GCC, Asia, and select international markets, with a strong
emphasis on governance, international best practices, ESG integration, and
capital stability. -TradeArabia News Service