Investors in the UAE have another opportunity to gain exposure to the region’s real estate market through a new stock market float.
Al Mal Capital REIT, listed on the Dubai Financial Market (DFM), has opened subscriptions for its follow-on public offering (FPO), aiming to raise up to AED 242 million. The offering involves issuing 220 million new units at AED 1.125 each, inclusive of a AED 0.025 subscription fee.
This marks the second REIT offering on DFM this year, following the well-received IPO of Dubai Residential REIT. Real estate investment trusts (REITs) allow investors to benefit from income-generating property assets and broader sectoral growth.
The FPO is open to both retail and institutional investors across the UAE and GCC, with subscriptions closing on July 25. A follow-on offering allows a listed entity to issue additional shares post-IPO.
Al Mal Capital REIT has delivered a 7% distribution yield since 2023. Its real estate portfolio boasts 100% occupancy and stable rental income, with a weighted average unexpired lease term of around 20 years.
