Dubai: Subscription to the Al Mal Capital’s Dh500 million real estate fund IPO has been extended to December 8.
“The REIT’s IPO has been well subscribed to date, and we have been approached by new investors asking for further time to assess the opportunity and go through the required steps to complete this,” said Naser Al Nabulsi, Vice-Chairman and CEO of Al Mal Capital.
Eligible investors can subscribe through First Abu Dhabi Bank (FAB) or Dubai Financial Market’s eIPO platform at Dh1 per unit (and a subscription fee of Dh0.02 per unit).
“The region is currently underserved with listed REITs, which is why we were excited to introduce Al Mal Capital REIT,” said Al Nabulsi.
The fund, expected to be listed in January, will look at multiple commercial real estate assets holding long-term leases.