First-Of-Its-Kind Partnership Harnessing the Opportunities Arising from the Tightening Economic Ties Between China and The Middle East

HONG KONG SAR & DUBAI, UAE – Media OutReach Newswire – 8 February 2024 – Raffles Family Office (“RFO“), the private office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum(“HH Private Office“), a member of a ruling Royal Family of Dubai, United Arab Emirates (U.A.E.), and National Cooperation New Energy Ltd (“NCNE“) announced the signing of a Memorandum of Understanding (“MoU“) that aims at fostering the advancement of Dubai’s renewable energy infrastructure. The trilateral MoU is a first-of-its-kind partnership which joins forces of APAC’s leading multi-family office, a ruling royal family of Dubai and a leading EV infrastructure company. This significant collaboration underscores a commitment to harnessing the opportunities arising from the tightening economic ties between China and the Middle East.

Raffles Family Office, His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum's Private Office, and National Cooperation New Energy Sign Trilateral MoU for Dubai's Renewable Energy Infrastructure Development
The Memorandum was signed by (from right): Chi-man Kwan, Group CEO and Co-founder of Raffles Family Office, Liu Yang, Chairman and CEO of National Cooperation New Energy, and His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum.

Chi-man Kwan, Group CEO and Co-founder of Raffles Family Office, remarked, “This MoU signifies RFO’s strategic entry into the Middle East, aligning with the intensifying economic relations between China and the GCC region. This initiative is a testament to RFO’s commitment to its impact investing mandate, honed over dedicated focus over the past years. The partnership with the HH Private Office and NCNE is instrumental for RFO to leverage the significant potential within the region’s energy transition, specifically targeting renewable infrastructure projects. This collaboration marks a crucial step in RFO’s regional exploration and market penetration efforts, setting a new benchmark in its business development trajectory.”

As the U.A.E. pursues its commitment to an energy transition, it sets a target of having 50% electric and hybrid cars on the roads by 2050, as pledged at the 28th UN Climate Change Conference (COP28). The actively working towards installing 10,000 EV charging stations by 2030, a substantial increase from the 914 stations available in 2023.

The Private Office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum said, “We are pleased to establish partnership with RFO, the largest multi-family office in APAC, and NCEC, a leading player in the renewable energy industry. Our vision aligns seamlessly with the objectives of Raffles Family Office and National Cooperation New Energy. We are particularly enthusiastic about collaborating in strategic investment and development between China and Dubai, specifically focusing on renewable infrastructure.”

Liu Yang, Chairman and CEO of National Cooperation New Energy, said, “NCNE has consistently led the way in advancing renewable energy technologies. Our enthusiasm for this partnership with RFO stems from a shared vision to introduce our state-of-the-art solutions to the Middle East. With the strategic support of the HH Private Office, we find ourselves in an advantageous position to make a significant contribution to the region’s energy transition. This collaboration not only aligns with our commitment to sustainable development but also represents a pivotal opportunity to drive meaningful change in the energy sector.”

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About the Private Office of His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum

His Highness Sheikh Ali Rashed Ali Saeed Al Maktoum’s Private Office is pivotal in promoting economic growth and sustainability in Dubai and the UAE, through strategic partnerships and leveraging local networks. It also supports international projects by extending its patronage, like the World Impact Center initiative from Switzerland, highlighting its commitment to global sustainability alongside local development. This approach underscores the office’s role in fostering economic development and contributing to global sustainability and investment conversations.

About National Cooperation New Energy Ltd

National Cooperation New Energy Ltd is a leading technology company specializing in new energy infrastructure construction. The Company is committed to delivering innovative energy solutions and advancing infrastructure development for new energy, offering diversified and multi-path sustainable energy applications to empower and create value for the global new energy industry. NCNE’s primary focus includes electric vehicle charging stations, commercial application solutions, public transportation solutions, and infrastructure construction projects in collaboration with government entities. By strengthening its position in the new energy industry and continuously enhancing its service system, NCNE aims to build a comprehensive ecosystem that covers all aspects of the new energy sector.

About Raffles Family Office

Raffles Family Office is a multi-family office that offers a full suite of wealth management services for ultra-high net worth individuals. With an integrated platform that combines independence with advisory expertise across a broad range of asset classes and an expansive global partnership network, the firm is uniquely placed to provide comprehensive and bespoke wealth growth and preservation solutions. RFO is dual-headquartered in Hong Kong and Singapore, and has branch offices in multiple Asian financial centres, including Shanghai, Beijing and Taipei. For additional information, visit


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