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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Dubai launched the pilot phase of its real estate tokenisation project last month.
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UAE must beat Iraq.
Australia must lose in Japan and at home to Thailand, with their losing margins and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
Saudi Arabia must lose to Japan, with their losing margin and the UAE's winning margin over Iraq being enough to overturn a goal difference gap of eight.
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UAE must beat Iraq.
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Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
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Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
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