Abu Dhabi energy firm Masdar launches green REIT in UAE

The ‘green’ REIT portfolio will initially include four commercial properties at Abu Dhabi’s Masdar city, above. (AFP)
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Updated 15 January 2020

Abu Dhabi energy firm Masdar launches green REIT in UAE

  • ‘Green’ REIT portfolio will initially include four commercial properties at Abu Dhabi’s Masdar city
  • It will be the first green REIT in the United Arab Emirates

ABU DHABI: Abu Dhabi Future Energy Company (Masdar) said on Wednesday it was launching a sustainable real estate investment trust (REIT) with an initial valuation of between 950 million dirhams ($259 million) and 1 billion dirhams.
The “green” REIT portfolio will initially include four commercial properties at Abu Dhabi’s Masdar city, the company, a subsidiary of Mubadala Investment Company, said in a statement.
It will cover more than 57 thousand square meters of net leasable area.
The first green REIT in the United Arab Emirates, it will be launched at Abu Dhabi Global Market, the statement said.
Masdar, wholly owned by the Abu Dhabi government through Mubadala, was set up to develop sustainable and clean energy. Masdar City is Masdar’s $22 billion carbon-neutral “green city in the desert.”


Saudi Arabia cabinet approves MOU between SAMA and Dubai Financial Services Authority

Updated 33 min 31 sec ago

Saudi Arabia cabinet approves MOU between SAMA and Dubai Financial Services Authority

RIYADH: Saudi Arabia cabinet approves memorandum of understanding between Saudi Arabian Monetary Authority and Dubai Financial Services Authority in the field of financial services, according to Saudi Press Agency.

More to follow.