Emirates NBD Asset Management will be managing the UAE’s first sustainable real estate investment trust, the Masdar Green Reit. Chris Whiteoak / The National
Emirates NBD Asset Management will be managing the UAE’s first sustainable real estate investment trust, the Masdar Green Reit. Chris Whiteoak / The National
Emirates NBD Asset Management will be managing the UAE’s first sustainable real estate investment trust, the Masdar Green Reit. Chris Whiteoak / The National
Emirates NBD Asset Management will be managing the UAE’s first sustainable real estate investment trust, the Masdar Green Reit. Chris Whiteoak / The National

Masdar's new 'Green Reit' to be managed by Emirates NBD


Fareed Rahman
  • English
  • Arabic

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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Results
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Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

RESULTS

Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO

Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke

Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke

Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO

Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision

Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision

Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO

Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)

Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)

Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision

Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke

Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO

Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision

Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision

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4,872 matches 

1,942 teams

116 pitches

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26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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Group B: Australia, England, Nigeria, West Indies

Group C: Bangladesh, Pakistan, Scotland, Zimbabwe

Group D: Afghanistan, Canada, South Africa, UAE

UAE fixtures

Saturday, January 18, v Canada

Wednesday, January 22, v Afghanistan

Saturday, January 25, v South Africa

UAE squad

Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon

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Transmission: 7-speed dual-clutch auto 

Speed: 0-100kph in 6.2sec 

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Funding: about $8m

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Saturday
West Ham United v Tottenham Hotspur (3.30pm)
Burnley v Huddersfield Town (7pm)
Everton v Bournemouth (7pm)
Manchester City v Crystal Palace (7pm)
Southampton v Manchester United (7pm)
Stoke City v Chelsea (7pm)
Swansea City v Watford (7pm)
Leicester City v Liverpool (8.30pm)

Sunday
Brighton and Hove Albion v Newcastle United (7pm)

Monday
Arsenal v West Bromwich Albion (11pm)

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1,000 tonnes of waste collected daily:

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800 tonnes of RDF replaces 500 tonnes of coal

Two conveyor lines treat more than 350,000 tonnes of waste per year

25 staff on site

 

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Venue: Sharjah Cricket Stadium

Date: Sunday, November 25

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The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.

He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

“Only once the system has been certified and approved will it move people,” he said.

HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon. 

With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.

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Dubai College A 50-12 Dubai College B

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Iceland 0 England 1 (Sterling pen 90 1)

Man of the match Kari Arnason (Iceland)

Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

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