Al Mal Capital REIT, which is listed on the Dubai Financial Market (DFM), is set to commence a rights issue on the 4th of March 2024, as stated by the fund.
Naser Al Nabulsi, CEO and Vice-Chairman of Al Mal Capital, remarked, “This significant rights issue is a crucial step in our journey to generate consistent and sustainable value for investors, consolidating our position as a leading real estate asset manager and investor in the Gulf.”
The entity currently holds a portfolio valued at AED 580M, primarily concentrated in educational assets in the UAE. The fund’s investment strategy prioritizes ‘strong-performing’ sectors such as healthcare, education, and industrials.
The rights issue comes subsequent to the approval from the UAE Securities and Commodities Authority, according to WAM.
