Al Mal Capital REIT launches follow-on offering to raise Dh242 million
24 June 2025 13:50
A.SREENIVASA REDDY (ABU DHABI)Al Mal Capital REIT, the first real estate investment trust (REIT) listed on the Dubai Financial Market (DFM), has launched a follow-on public offering (FPO) to raise up to Dh242 million in new capital. The fundraising will support the acquisition of additional income-generating assets across healthcare, education, and mission-critical industrial sectors. The FPO follows the remarkable success of the Dubai Residential REIT's recent IPO, which raised Dh1.245 billion after being oversubscribed 26 times.The offering opens on July 7 and closes on July 25, with trading of the new units expected to begin on August 8, subject to regulatory approvals. The new units are priced at Dh1.10 each, including a nominal value of Dh1.00, a Dh0.10 issuance premium, and a Dh0.025 subscription fee, including VAT. The cost for investors works out to Dh1.125 per unit. The FPO will issue up to 220 million new units, raising the fund's issued capital from Dh513.9 million to Dh733.9 million. Existing unitholders on record as of 26 June 2025 will receive a priority allocation equal to approximately 39% of their current holdings to ensure their shareholding is not diluted. A secondary allocation will provide a minimum guaranteed allotment of up to 2,000 units to eligible new investors.Commenting on the offering, Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital, said, 'There is a growing investor appetite for regional REITs as shown by recent offerings on the DFM that saw record-breaking retail participation, especially in the UAE. We are therefore pleased that we can offer more investors a chance to access Al Mal Capital REIT, which continues to deliver strong and consistent dividends.'Al Mal Capital REIT has reported a stable performance since 2023, distributing an annual return of around 7%. To underscore this track record, the REIT announced an interim dividend of Dh0.0375 per unit for the first half of 2025, reflecting a 7.5% annualised yield. Only investors holding units as of June 26 will be eligible to receive this dividend.As of May 31, 2025, the fund's net asset value (NAV) stood at Dh577 million, with a NAV per unit of Dh1.1229. The REIT maintains a 100% occupancy rate across its real estate portfolio. Al Mal Capital REIT is managed by Al Mal Capital, a subsidiary of Dubai Investments. Investment Corporation of Dubai (ICD), an arm of the Government of Dubai, is the majority shareholder in Dubai Investments. The FPO is open to retail and institutional investors from the UAE and across the GCC. Interested investors can subscribe through First Abu Dhabi Bank branches, online banking (for FAB clients), or by submitting a manager's cheque payable to 'Al Mal Capital REIT – FPO.' The minimum subscription is 2,000 units, equivalent to a total investment of Dh2,250 including fees.
Investors in the new units will be entitled to the same rights as existing unitholders, including eligibility for future dividend distributions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
3 hours ago
- Al Etihad
G42 makes it to TIME's 100 most influential companies' list
29 June 2025 12:15 A. SREENIVASA REDDY (ABU DHABI)G42, the UAE-based artificial intelligence leader, has made it to the TIME100 Most Influential Companies list. Featured under the 'Innovators' category and described as a 'Rising AI Power', G42 has been acknowledged for its extraordinary contributions to global AI infrastructure and strategy in the fifth edition of the annual TIME100 list, curated annually by TIME editors and correspondents, highlights companies across sectors that are shaping the future through innovation, ambition, and impact. G42 joins a select group that includes global giants such as OpenAI, Meta, Amazon, Huawei, ByteDance, Palantir, BlackRock, SpaceX, Nintendo, and Berkshire the MENA region, only two companies made it to the list this year — G42 and Saudi Arabia's Diriyah Company, which is leading the transformation of the historic Diriyah district into a cultural and heritage hub under Vision 2030.G42 was especially spotlighted for spearheading the world's largest AI infrastructure project outside the United States — a 10-square-mile AI campus in Abu Dhabi, launched in May 2025 in the presence of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and US President Donald Trump. Developed in collaboration with leading US companies such as OpenAI, Microsoft, Oracle, Cisco, SoftBank, and Nvidia, the AI campus will include supercomputers, data centres with 5-gigawatt capacity, a science park, and facilities powered by nuclear, solar, and gas sources.'This campus is just one G42 initiative supporting the UAE's 2031 AI superpower goal,' TIME noted. The project forms part of the broader US-UAE AI Acceleration Partnership, which aims to deepen bilateral cooperation on advanced technologies. Under the agreement, American companies will operate the data centres and extend US-managed cloud services, leveraging the UAE's strategic location to serve nearly half the world's to TIME, Faheem Ahamed, Group Chief Marketing and Communications Officer at G42, said the company sees other AI firms 'not as competition, but [as] potential collaborators.' He added that G42's selection reflects its growing global influence, with giga-scale projects underway in Europe, Kenya, and the US. 'It also reflects a collaborative model that positions the company at the centre of global AI infrastructure development.'Indeed, G42's ambitions extend far beyond the Gulf. Through its subsidiary Core42, the company recently signed a strategic agreement with iGenius to launch Europe's largest AI compute infrastructure — a sovereign AI supercomputer powered by thousands of Nvidia Blackwell to TIME, winning over Washington was pivotal to the company's global ambitions. In May, the US administration relaxed restrictions on semiconductor exports to the UAE, enabling US companies to sell cutting-edge chips for G42's AI campuses. 'For US firms, closer ties offer access to substantial Emirati capital and energy, and closer proximity to half the globe's population,' the TIME report said. The UAE, a forerunner in artificial intelligence policy, has made significant strides in recent years. It was the first country to appoint a Minister of AI in 2017 and to launch a nationwide AI strategy. Institutions such as the Mohamed bin Zayed University of Artificial Intelligence underscore the nation's commitment to leading AI innovation. Source: Aletihad - Abu Dhabi
Al Etihad
3 days ago
- Al Etihad
UAE fund invests $100 million in US blockchain firm WLFI
27 June 2025 00:38 A. SREENIVASA REDDY (ABU DHABI)A UAE-based Web3 fund, Aqua 1 Foundation, has announced a $100 million investment in World Liberty Financial (WLFI), a decentralised finance (DeFi) platform linked to US President Donald Trump. The investment will be made through the purchase of WLFI's governance move was disclosed in a joint statement issued by both entities, which was shared as a press release by joint statement emphasised their shared ambition to accelerate the global shift from traditional finance to decentralised models. The governance tokens will allow Aqua 1 to participate in shaping WLFI's operational and strategic decisions, although they do not represent ownership or entitle holders to a share in the project's seeks to transform the fintech sector through blockchain technology, enabling access to financial services via digital tokens without intermediaries such as banks.'We're excited to work hand-in-hand with the team at Aqua 1,' said Zak Folkman, co-founder of WLFI. 'Aligning with Aqua 1 validates our blueprint for global financial innovation, as we have a joint mission to bring digital assets to the masses and strengthen our nation's standing as a champion and leader of cryptocurrency and blockchain technology.'The collaboration comes at a time of growing institutional interest in DeFi. Aqua 1's investment will also support WLFI's USD1 ecosystem — a suite of payment and treasury management tools aimed at broadening blockchain adoption among businesses."WLFI's USD1 ecosystem and RWA pipeline embody the trillion-dollar structural pivot opportunity we seek to catalyse," said Dave Lee, founding partner of Aqua 1. 'We want to be at the heart of this transformation where traditional capital markets merge with decentralised financial primitives.'Looking ahead, the two organisations plan to co-develop BlockRock, an institutional platform for real-world asset (RWA) tokenisation, and support the launch of Aqua Fund, a UAE-domiciled investment vehicle. The fund will focus on blockchain infrastructure, artificial intelligence integration, and global Web3 adoption, with plans to be listed on a secondary trading platform within Abu Dhabi Global Market (ADGM). WLFI has already raised hundreds of millions of dollars through the sale of governance tokens. International agencies have reported several recent high-value purchases by funds and high-net-worth individuals. In April, Abu Dhabi-based DWF Labs acquired $25 million worth of WLFI governance tokens, while Chinese-born crypto entrepreneur Justin Sun is reported to have spent $75 million on them.
Al Etihad
3 days ago
- Al Etihad
UAE stock markets reach new peaks
26 June 2025 20:37 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets reached new peaks on Thursday following positive momentum generated by easing tensions between the US, Israel, and Abu Dhabi Securities Exchange (ADX) continued its positive trajectory with its general index (FADGI) rising by 0.766% to close at 9,886.23. A total of 32,750 trades were executed, involving 660 million shares with a combined value of Dh1.88 billion. The total market capitalisation of all companies listed on the ADX stood at Dh3.083 Properties led the rally with a 7.6% gain, followed by Abu Dhabi Commercial Bank with a 2.69% rise, and Eshraq Investments with a 4.35% increase. Other top gainers on the ADX included Al Khaleej Investments (+7.93%), Abu Dhabi Co. for Building Materials (+7.48%), and Alpha Data (+6.41%). Notable decliners were Oman and Emirates Investment Holding (-10.00%), Sharjah Cement (-3.09%), and Presight (-2.86%).The Dubai Financial Market (DFM) continued its rally for the sixth straight session with its general index (DFMGI) rising by 1.256% to close at 5,683.91, its highest level in 17 years. A total of 14,863 trades were executed on the DFM, involving 469 million shares with a combined value of Dh954 million. Share prices of 35 companies rose, nine declined, and 10 remained unchanged. Dubai Islamic Bank led the rally with a 4.91% rise in share price, followed by Union Properties (2.81%) and Salik (2.2%). Among the other top gainers on Monday were Sukoon Takaful (+11.43%), Chimera S&P UAE Shariah ETF (+6.18%), and National International Holding (+3.89%). On the losing side, International Financial Advisors fell by 9.89%, followed by Al Salam Sudan (-1.48%), Islamic Arab Insurance (-0.98%), and Dubai Residential REIT (-0.81%).
