Al Mal Capital obtained the approval of the Securities and Commodities Authority for the initial public offering of the Al-Mal Capital REIT fund, which it recently created.
According to Al-Bayan newspaper, Al-Mal Capital REIT is interested in real estate investment. It has a closed capital, and aims to list all its units in the Dubai Financial Market.
Al Mal Capital Rent is targeting a public offering of 500 million dirhams, and the proceeds of the offering will be invested in a diversified portfolio of income-generating real estate assets backed by secure long-term lease agreements . Al Mal Capital REIT will allow investors from the UAE and the Gulf Cooperation Council countries access to a sector of multi-class assets with strong foundations, through a strategy aimed at investing in high-performing sectors in the UAE, such as healthcare, education and industrial assets. p>
Khalid Jassim Bin Kalban, Chairman of Al Mal Capital, said: In the current circumstances in which we are living, investors continue to search for attractive and safe returns in the long term. Full confidence, that Al Mal Capital REIT, and the decision to list it on the Dubai Financial Market, will help meet the various needs of investors, and provide them with a highly liquid investment tool, allowing them to enter the growing real estate sector.
For his part, Nasser Nabulsi, Vice Chairman and CEO of Al Mal Capital, said: Al Mal Capital is committed to its prominent role in strengthening the position of the local and regional markets, and upgrading them.
