Dubai, UAE – 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 by Mr. René Bernard Beil, Managing Director of Beaufort Asset Management, and Mr. 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 René Beil, Managing Director of Beaufort Asset Management. “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 David Chen, Chairman of Fields of Gold. “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.
Founded in Dubai in 2009, Beaufort Global Partners is one of the region’s leading independent hospitality real estate asset management, investment and development firms, specializing in hospitality, commercial, mixed-use assets as well as branded residences. The firm has built a strong international reputation for institutional partnerships, cross-border structuring and strategic alignment with sovereign and private sector clients.
Fields of Gold Capital & Asset Management (FOG) is the leading ASIA-based global investment and asset management firm specializing in hospitality and commercial real estate. The Chairman, David Chen, also serves as Independent Director of Hong Kong Yuexiu REIT—the world’s first listed real estate investment trust (REIT) fund investing in ASIA, with a total asset valuation of approximately HKD 47 billion.
