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Masdar to launch UAE’s first ‘sustainable’ REIT

Masdar sustainable REIT
The sustainable real estate investment trust is expected to have an initial valuation between Dh950 mn and Dh1 bn

Renewable energy firm Masdar, which is a subsidiary of Abu Dhabi-based Mubadala Investment Company, has announced the launch of UAE’s first sustainable real estate investment Trust (REIT).

The sustainable real estate investment trust, launched by Masdar, will have an initial valuation between Dh950 million and Dh1 billion.

The sustainable real estate investment trust will be based in the Abu Dhabi General Market and will include four commercial properties in Masdar city.

According to media reports, the REIT will be launched as a ‘Qualified Investor Fund’ and will only be accessible by investors through private placement.

Mohamed Jameel Al Ramahi, chief executive at Masdar told the media, “This REIT is a significant milestone for green investment in the region, and demonstrates Masdar’s leadership in sustainable development. This is the first venture of its kind here, and offers investors an attractive option to invest in sustainable income-generating real-estate assets that are helping to contribute to a greater future for all.”

“Investors are increasingly looking for responsible investments and are evaluating companies based on specific environmental, social and governance practices criteria. “

He believes the REIT will contribute to the development of Abu Dhabi’s real estate sector and bring in greater investment from both domestic and international investors.

In 2018, Masdar also launched the region’s first green revolving credit facility.

Earlier this month, Masdar and Infinity Energy, an Egypt-based renewable energy company, have agreed to establish a joint venture company to develop solar energy and wind power projects in Africa. The new venture will be called Infinity Power.

During the same period, Masdar also signed an agreement with the Ministry of Energy of the Republic of Azerbaijan to develop and operate a 200 megawatt solar plant near Baku.

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