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The Hong Kong billionaire-backed Aquis Farm syndicate will manage the stallions based at Emirates Park Stud in NSW.

Emirates Park, established by Dubai businessman His Excellency Nasser Lootah, will retain ownership of its broodmare band at Murrurundi in the Upper Hunter region under the joint venture with Aquis.

This comes less than a week after the Tony Fung-backed syndicate expanded its stallion roster at Canungra in the Gold Coast hinterland.

Emirates Park chairman Hussain Lootah said on Friday the company’s joint venture with Aquis would create a new force in Australia’s thoroughbred industry.

“For some time now we have been looking for a like-minded partner to share our vision for taking Emirates Park to the next stage of its growth and development and in Aquis Farm and the Fung family we believe we have found the perfect partner,” he said.

The Lootah family will turn its focus to their international thoroughbred interests and developing its Australian broodmare band.

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