DFM-listed Al Mal Capital REIT completes rights issue – and ready to pick up more schools

DFM-listed Al Mal Capital REIT completes rights issue – and ready to pick up more schools

Dubai: The Dubai real estate fund’s operator Al Mal Capital has its priorities on where those investments should be going. ?More school buildings? Yes. ?Colleges? Maybe. ?Offices? Definitely not. ?That hyper-focus has come in handy as Al Mal Capital REIT – listed on DFM – has built a portfolio valued at Dh580 million and with a principal focus on education-linked assets. That’s the way Sanjay Vig, Managing Director at Al Mal Capital wants to keep things. ?“As far as my REIT (real estate is concerned, I intend to focus only on education, healthcare and long term industrials,” said Vig. “Purely because the intent of the REIT is to specialize on ‘recession-resistant’ sectors. These are single-let, reduced asset management activity, triple-net leases. And the biggest core is that I know what I’m going to get even in 2032 - the rental is defined for the next 20 years, 25 years.?“So, we know what investors will make…”?Rights issue and a Dh750m capital ?That kind of assuredness is winning Al Mal Capital REIT – which listed on DFM early 2021 - its investors. The fund completed a rights issue last week, adding 400 million units at Dh1.1 a share. This raised the capital