Abu Dhabi, UAE —Masdar Green REIT, the UAE’s first Real Estate Investment Trust to invest solely in sustainable real estate assets, has acquired properties worth AED934 million ($254 million), taking its portfolio value to AED1.91 billion.
The acquisitions include two fully-occupied, LEED Platinum-rated buildings within Masdar City, Abu Dhabi’s sustainable community and innovation hub. 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.
The acquisition follows a $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 sustainable, income-generating real estate portfolio in Masdar City.
Anthony Taylor, Senior Executive Officer of MCML, said this second expansion phase demonstrated that sustainable urban development was a compelling commercial proposition, as well as environmentally responsible.
Masdar Green REIT was launched in December 2020 with an initial portfolio of four commercial properties at Masdar City. Together, the original properties cover a net leasable area of 58,063 square metres and were acquired at a value of AED948 million. As of December 31, 2021, the portfolio was valued at AED980 million, reflecting a gain of around AED32 million.