Al Mal Capital REIT obtains SCA approval for IPO on DFM
- Date: 26-Oct-2020
- Source: Mubasher
- Sector:Financial Markets
- Country:UAE
Al Mal Capital REIT obtains SCA approval for IPO on DFM
Dubai – Mubasher: Al Mal Capital, a subsidiary of Dubai Investments, has received the approval of the Securities and Commodities Authority of the UAE (SCA) to launch an initial public offering (IPO) for its newly founded entity Al Mal Capital REIT on the Dubai Financial Market (DFM).
With a target offer size of AED 500 million, the Fund seeks to list its units on the DFM in January 2021, according to a press release on Monday.
Al Mal Capital REIT, a closed-ended real estate investment trust, will use the offering's proceeds in investing in various income-generating real estate assets, backed by secure long-term lease agreements.
Al Mal Capital REIT will focus on high-performing UAE sectors, including healthcare, education, and industrial assets, with a target annual return of
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