Al Mal Capital gets nod to list subsidiary on Dubai stock market

Al Mal Capital gets nod to list subsidiary on Dubai stock market

Al Mal Capital announced on Monday that it has received approval to float its newly founded entity, Al Mal Capital REIT, a closed-ended real estate investment trust.

The company said the Securities and Commodities Authority of the UAE (SCA) has given the green light to Al Mal Capital REIT's plans to list its units on the Dubai Financial Market (DFM) in January 2021.

Dubai Financial Market says it has reached the final stages of preparations to launch an equity derivatives platform

Al Mal Capital REIT said it has a target offer size of AED500 million ($136 million), adding that the proceeds of the offering will be used to invest in a diversified portfolio of income generating real estate assets, backed by secure long-term lease agreements.

It will focus on investing in high-performing UAE sectors,