Latest news with #Dh1.245
Al Etihad
07-07-2025
- Business
- Al Etihad
Al Mal Capital REIT's FPO subscription period begins
7 July 2025 12:07 A. SREENIVASA REDDY (ABU DHABI)Subscriptions opened on Monday for the Follow-on Public Offering (FPO) of Al Mal Capital REIT, the first real estate investment trust (REIT) listed on the Dubai Financial Market (DFM). The offering will remain open until July FPO aims to raise up to Dh242 million through the issuance of up to 200 million new units, priced at Dh1.125 per unit. The offer is open to both individual and institutional investors across the UAE and the Abu Dhabi Bank (FAB) is acting as the Lead Receiving Bank. Investors can subscribe via FAB branches, online and mobile banking (for FAB clients), through the Central Bank's payment system, or by submitting a Manager's allocation is expected to take place between August 1 and 8, 2025, with trading on the DFM anticipated between August 8 and 15, subject to regulatory proceeds from the offering will be used to acquire additional income-generating assets across the healthcare, education, and mission-critical industrial sectors. The move follows the successful IPO of Dubai Residential REIT, which raised Dh1.245 billion and was oversubscribed 26 unitholders on record as of June 26, 2025, will receive a priority allocation equivalent to approximately 39% of their current holdings to protect against dilution. A secondary allocation will guarantee a minimum of up to 2,000 units to eligible new 2023, Al Mal Capital REIT has delivered a stable performance, with an annual return of around 7%.The REIT is managed by Al Mal Capital, a subsidiary of Dubai Investments. The Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, is the majority shareholder in Dubai Investments.'Al Mal Capital REIT's follow-on offering looks like a smart move for both existing and new investors who are after stable, long-term income,' said Samer Mardini, Chief Investment Officer at a family office in Dubai. 'The pricing is fair, the structure is clear, and overall it reflects a mature, well-managed fund,' he added. 'If they follow through on their plans to acquire solid, income-generating assets, there's real potential for both the value of the fund and its dividend payouts.'
Al Etihad
24-06-2025
- Business
- Al Etihad
Al Mal Capital REIT launches follow-on offering to raise Dh242 million
24 June 2025 13:50 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 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 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 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.
