UAE Business: Masdar Green REIT seals $200m finance deal with FAB – Gulf Digital News

UAE Business: Masdar Green REIT seals $200m finance deal with FAB – Gulf Digital News

Abu Dhabi’s renewable energy company Masdar said its green real estate investment trust (REIT) has signed a financing commitment worth $200 million with First Abu Dhabi Bank relating to financing of the REIT portfolio to facilitate further acquisitions and portfolio growth. 

Masdar Green REIT is the first in the UAE to invest solely in sustainable real estate projects such as Masdar City in Abu Dhabi. 

The Masdar announcement comes 12 months after Masdar City partnered with Emirates NBD Asset Management to receive management services for the UAE’s first sustainable REIT. 

It was made during an official signing ceremony held at the 4th Abu Dhabi Sustainable Finance Forum during Abu Dhabi Sustainability Week - the global platform for accelerating sustainable development hosted by Masdar. 

"Investors are increasingly looking for ‘responsible’ investment opportunities and evaluate companies based on specific environmental, social and governance (ESG) practices criteria," remarked Abdulla Balalaa, the Executive Director, Masdar City and Chairman of the REIT. 

"The Masdar Green REIT’s portfolio currently includes four commercial properties within Masdar City, which is the pioneering sustainable urban development project, and technology innovation hub, in Abu Dhabi," he stated. 

For this transaction, FAB will act as sole mandated lead arranger