Al Mal Capital REIT, the first real estate investment trust to be listed on the Dubai Financial Market (DFM), has revealed plans to initiate a follow-on public offering (FPO) to raise additional funds aimed at expanding its portfolio of income-generating properties.
The REIT, which is managed by Al Mal Capital—a subsidiary of Dubai Investments—intends to issue up to 220 million new units at a price of AED1.1 each.
The subscription period for the FPO is scheduled from 7 to 25 July, with trading of the new units expected to commence around 8 August, pending regulatory clearance.
Al Mal Capital REIT has invited eligible existing unitholders, as well as retail and institutional investors across the UAE and GCC, to participate in the offering.
Subject to approval by the UAE Securities and Commodities Authority (SCA), the capital raised is projected to increase the fund’s total assets from AED514 million (USD140 million) to AED734 million (USD200 million).
According to a statement by the fund, the proceeds will be used to acquire properties in high-growth and resilient sectors such as healthcare, education, and industrial assets considered essential to operations.
The REIT is overseen by a seasoned and reputable investment team with a strong track record in managing commercial properties that generate consistent income.
It also operates under a well-established SCA-regulated REIT framework, with governance provided by a specialist committee that evaluates investment opportunities and ensures regulatory compliance.
