Masdar is targeting an initial valuation of between AED950mn (approx. USD259mn) and AED1bn for the REIT, it said in a statement, and will initially include up to four properties located in Masdar City, a multi-billion-dollar city located near the Abu Dhabi International Airport and billed as one of the world’s “most sustainable” low-carbon developments.
REIT’s are intended to give investors exposure to a broad group of real estate assets, but their popularity has not matched the hype in recent years, due largely to a multi-year property market slump in some of the GCC’s largest economies – namely the UAE and Saudi Arabia.
In the UAE, there are currently two listed REITs — Emirates REIT and ENBD REIT, both of which are Sharia compliant and listed on Nasdaq Dubai.
