Dubai, UAE–Al Mal Capital REIT, listed on the Dubai Financial Market (DFM), is launching a rights issue on March 4th, 2024, the fund said in a statement.
Naser Al Nabulsi, CEO and Vice-Chairman of Al Mal Capital, said: “This significant rights issue is an important step in our journey to generate consistent and sustainable value for investors, solidifying our position as a leading real estate asset manager and investor in the Gulf,”
The entity has an existing portfolio valued at $158 million, primarily invested in educational assets in the UAE. The fund’s investment strategy is focused on ‘strong-performing’ sectors such as healthcare, education, and industrials.
The rights issue follows the approval of the UAE Securities and Commodities Authority.