
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
COVID-19 poses downside risks to Egyptian banksBUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
GCC UHNWIs population to grow by 26 per cent...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SEDCO Capital exits a US real estate investmentBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...