Al Mal Capital REIT gets go-ahead for IPO

The UAE’s Securities and Commodities Authority has given its approval for the listing of Dubai-based Al Mal Capital’s real estate investment trust. 

The subscription period for the IPO will run from November 8 to 19, and it will be listed on the Dubai Financial Market. 

The listing will have a target offer of US$136 million which the company intends to use to expand its real estate portfolio. 

The fund will focus on acquiring properties in the UAE and overseas and in high growth sectors such as education, healthcare and industrials. It will also target sharia-compliant assets with sharia-financing structures.

“In the current environment, investors are looking for secure long-term attractive returns,” said Khalid Bin Kalban, chairman of Al Mal Capital.

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