The first green REIT in the UAE will be launched at Abu Dhabi Global Market/Bloombergby Kudakwashe Muzoriwa
Abu 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.