Al Mal Capital REIT adds another K-12 educational asset in its portfolio

Al Mal Capital REIT adds another K-12 educational asset in its portfolio

Dubai, UAE – Al Mal Capital REIT (“AMCREIT”), the first REIT listed on DFM, and managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC, announced the acquisition of the real estate assets of Wesgreen International School from Al Batha Real Estate, part of the Al Batha Holdings of Emirate of Sharjah, for a consideration of AED 265 million. The Wesgreen International School comprises two campuses - Muwaliah (main campus) and Al Qaraien (secondary campus). The school is leased to and operated by GEMS Education, offering British Curriculum and is one of the premium schools in Sharjah, with a current student population of c. 3,500. GEMS education (through Wesgreen International School) has signed a lease term of 30 years (in 2017) and will continue to be the lessee and operator of the school under the existing lease framework agreement. The two campuses of Wesgreen International School are a part of Al Batha Real Estate Company, with a total plot area of 1,065,626 Sq. ft (Muwaliah Campus) and 308,106 Sq. ft (Al Qaraien Campus).

“Al Mal Capital REIT continues to implement its well-defined strategy of acquiring high quality real estate assets in line with their investment mandate with a strong