Masdar Green REIT bolsters portfolio with AED934 million sustainable real estate acquisition

Masdar Green REIT bolsters portfolio with AED934 million sustainable real estate acquisition

ABU DHABI, 21st November, 2022 (WAM) -- Masdar Green REIT, the UAE’s first Real Estate Investment Trust to invest solely in sustainable real estate assets, has concluded the acquisition of property worth AED934 million, taking its portfolio value to AED1.91 billion, with further assets identified for potential future investments.

The announcement, made by the fund’s manager Masdar Capital Management Limited (MCML) today at Abu Dhabi Finance Week, follows a US$200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT’s growth.

Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a professionally managed, sustainable, income-generating real estate portfolio in Masdar City.

The fund’s latest acquisitions include two fully occupied, LEED Platinum-rated buildings within Masdar City, Abu Dhabi’s pioneering sustainable community and innovation hub: the head office of Abu Dhabi Quality and Conformity Council, and Etihad Airways’s Eco Residences complex. A third property acquired, the Technology Innovation Institute headquarters, is LEED Gold certified. All three assets have achieved a 3 Pearl rating under the Abu Dhabi Estidama Pearl Building Rating System.

Anthony Taylor, Senior Executive Officer of MCML, said this second expansion phase demonstrated that sustainable urban development was a