Dubai: Al Mal Capital REIT (AMC REIT), the first real estate investment trust listed on the Dubai Financial Market (DFM), regulated by the Securities and Commodities Authority (SCA), and managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC, is inviting existing unitholders, as well as UAE and GCC individual and institutional investors, to subscribe to new units in its closed-ended Real Estate Investment Trust (REIT) through a follow-on public offering (FPO).
According to Emirates News Agency, the FPO, approved by the SCA, will issue up to 220,000,000 new units at a price of AED1.1, raising the issued capital of the Fund from AED513,889,872 up to AED733,889,872. The funds will be used to expand the REIT's portfolio of income-generating real estate assets selected from sectors such as healthcare, education, and mission-critical industrial assets.
The subscription period is set to run from 7th July to 25th July 2025, with the new units expected to start trading on the Dubai Financial Market (DFM) around 8th August 2025, pending regulatory and market approvals. Al Mal Capital REIT has demonstrated a stable track record, delivering a 7% return since 2023, and continues to target returns of approximately 7% for investors.
In conjunction with this performance, the REIT is announcing a cash dividend of AED 0.0375 per unit for the interim period ending 30 June 2025, which represents an annualized yield of 7.5%. Investors must purchase units by 24 June 2025 to be eligible for this dividend, as only unitholders on record as of 26 June 2025 will qualify.
Naser Al Nabulsi, Vice Chairman and CEO at Al Mal Capital, commented on the FPO, stating that there is a growing investor appetite for regional REITs, as evidenced by recent offerings on the DFM that saw significant retail participation in the UAE. The REIT aims to attract more investors by offering access to Al Mal Capital REIT, which maintains strong and consistent dividends. The focus on resilient real estate sectors offering sustainable income is expected to appeal to both institutional and retail buyers.
Managed by a seasoned investment team, Al Mal Capital REIT benefits from a robust SCA-regulated framework and oversight from an experienced committee, ensuring compliance with regulatory standards. The FPO is open to UAE and GCC retail and institutional investors, with a priority allocation available to existing unitholders whose names appear in the register as of 26th June 2025. This allocation ensures their ownership remains undiluted following the capital increase.
A secondary allocation of unsubscribed units will have a Minimum Guaranteed Allocation (MGA) of up to 2,000 units per eligible new subscriber, subject to request and availability. Al Mal Capital REIT focuses on a diversified portfolio of income-generating real estate assets in the UAE, based on secure long-term lease agreements with strong credit profiles, providing UAE and GCC investors access to an asset class with long-term fundamentals in sectors such as healthcare, education, and industrial assets.