Masdar is entering into a partnership with Emirates NBD Asset Management to offer the UAE’s first sustainable real estate investment trust, the Masdar Green Reit.
The Masdar Green Reit has been set up at Abu Dhabi Global Market as a qualified investor fund, offering professional investors the opportunity to invest in a portfolio of income-producing, sustainable real estate assets. Masdar Capital Management, a recently-created fund manager within ADGM, will work with Emirates NBD Asset Management, which has experience of property asset management through its own listed Reit.
Masdar, a subsidiary of Abu Dhabi’s strategic investment arm Mubadala Investment Company, first announced plans for the Reit during last year's Abu Dhabi Sustainability Week.
“Investors are increasingly looking for ‘responsible’ investment opportunities and evaluate companies based on specific environmental, social and governance (ESG) practices criteria,” said Abdulla Balalaa, acting executive director of sustainable real estate at Masdar City. “The Masdar Green Reit gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City.”
The Reit's portfolio currently includes four commercial properties in Masdar City, which consume about 40 per cent less electricity and water than other buildings in Abu Dhabi, according to Masdar. Three of the buildings have a 'three Pearl' rating under Abu Dhabi's Estidama rating system, while the fourth has a LEED Platinum rating from the US Green Buildings Council.
The Reit also provides a vehicle through which “third-party, sustainable developers can monetise their assets, attracting both real estate developers to Masdar City, and aspiring local and international sustainable investors,” Mr Balalaa added.
“The Masdar Green Reit will facilitate more sustainable real estate assets coming to market by providing institutional funding to support the future expansion of Masdar City through new sustainable developments,” Masdar, said.
The company also confirmed that the Reit has now received approval from ADGM’s Financial Services Regulatory Authority to begin operations.
Masdar is currently active in more than 30 countries with a total renewable energy capacity of 10.7 megawatts. The company is aiming to double its capacity in the next five years as governments focus on renewable energy projects, Yousif Al Ali, executive director for clean energy, told The National this week.
In 2018, Masdar signed the first green revolving credit facility in the Middle East to support its investments in global clean technology and sustainable real estate projects.
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Ibrahim's play list
Completed an electrical diploma at the Adnoc Technical Institute
Works as a public relations officer with Adnoc
Apart from the piano, he plays the accordion, oud and guitar
His favourite composer is Johann Sebastian Bach
Also enjoys listening to Mozart
Likes all genres of music including Arabic music and jazz
Enjoys rock groups Scorpions and Metallica
Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
2. The money has been transferred into a structured note. These products have high upfront, recurring commission and should never be in a pension account.
3. You have also been sold investment funds with an upfront initial charge of around 5 per cent. ETFs, for example, have no upfront charges.
4. The adviser charges a 1 per cent charge for managing your assets. They are being paid for doing nothing. They have already claimed massive amounts in hidden upfront commission.
5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
ICC T20 Rankings
1. India - 270 ranking points
2. England - 265 points
3. Pakistan - 261 points
4. South Africa - 253 points
5. Australia - 251 points
6. New Zealand - 250 points
7. West Indies - 240 points
8. Bangladesh - 233 points
9. Sri Lanka - 230 points
10. Afghanistan - 226 points
The specs
Engine: 2.5-litre, turbocharged 5-cylinder
Transmission: seven-speed auto
Power: 400hp
Torque: 500Nm
Price: Dh300,000 (estimate)
On sale: 2022
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
The bio
Favourite food: Japanese
Favourite car: Lamborghini
Favourite hobby: Football
Favourite quote: If your dreams don’t scare you, they are not big enough
Favourite country: UAE
The biog
Favourite car: Ferrari
Likes the colour: Black
Best movie: Avatar
Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy
Results
United States beat UAE by three wickets
United States beat Scotland by 35 runs
UAE v Scotland – no result
United States beat UAE by 98 runs
Scotland beat United States by four wickets
Fixtures
Sunday, 10am, ICC Academy, Dubai - UAE v Scotland
Admission is free
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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MO
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if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
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