The first green REIT in the UAE will be launched at Abu Dhabi Global Market/Bloomberg
by Kudakwashe MuzoriwaAbu Dhabi’s Masdar, the renewable energy and sustainable real estate company, has launched a sustainable real estate investment trust (REIT) with an initial valuation of between AED 950 million ($259 million) and AED 1 billion.
The REIT will initially include four commercial properties within Masdar City, Abu Dhabi’s sustainable urban community that is focused on low-carbon urban development and it will cover more than 57 thousand square meters of net leasable area.
Mohamed Jameel Al Ramahi, the Chief Executive Officer of Masdar, said, “This is the first venture of its kind here and offers investors an attractive option to invest in sustainable income-generating real-estate assets that are helping to contribute to a greater future for all.”
The first green REIT in the UAE will be launched at Abu Dhabi Global Market.
Additionally, the private REIT will be launched as a Qualified Investor Fund, open to market counterparties and select clients by private placement.
MOST READ
BUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
National Bank of Oman to exit from EgyptBUSINESS
Salt Bae backers seek a partner and a $1...BUSINESS
Oman plans to launch new regional airline
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
