Dubai: fundings in projects which are under construction will never get over the 25 percent mark, which is according to the Dubai real estate fund operator Al Mal Capital REIT. And also the fund will not breach the 25 percent mark when we talk about the up stakes in the projects which are away from the UAE.
These are basically the markers that Al Mal Capital REIT – which recently underwent an IPO and also the first in Dubai for over 3 years- have placed for itself. The fund firstly will be invested in educational facilities, as well as healthcare and also industrial assets.
Decline and a Pandemic
It has been a tumultuous two to three years for real estate focused funds in the UAE. The general downturn in the property market accelerated in the aftermath of COVID-19. But real estate sources say industrial assets – especially warehouses – have held up quite well, and this is what the funds will be banking on.
It was really nosy two to three years for the construction and property focused funds in the UAE. The general downfall in the real estate market increased in the aftermath of COVID-19. But also the real estate sources confessed about industrial advantages- mainly warehouses- have helped up very well, this is what the funds will get saved on.
According to the lists on DFM, Al Mal Capital REIT pulled in Dh350 million from its IPO.
“The fund will distribute to unitholders by way of dividend at least 80 percent of its audited realized net profit (does not include unrealized capital profit) each fiscal year,” it said in a statement.