Abu Dhabi Future Energy Company "Masdar", one of the "Initiative for Investment" companies, has launched a fund for sustainable real estate investment, to be the first green real estate investment fund in the UAE.
This announcement came during an event held within the Abu Dhabi Sustainability Week, which was attended by the Minister of State and Chairman of the Board of Directors of the Abu Dhabi Global Market, Ahmed Ali Al Sayegh, and the CEO of the aviation and clean energy industry and information and communications technology in Mubadala, Khalid Al Qubaisi, and the CEO of Masdar Company », Mohammed Jamil Al-Ramahi, and the initial value of the fund will range between 950 million dirhams ($ 258.7 million) and one billion dirhams.
The real estate investment fund will be included in the Abu Dhabi Global Market, which provides the first private real estate investment system in the Middle East and North Africa region within its integrated financial services and solutions.
The fund will initially include four commercial properties within Masdar City, the sustainable city in Abu Dhabi that focuses on low carbon real estate development. The private real estate investment fund will be launched as a qualified investment fund available for similar investment funds in the market and selected clients through a private placement. The properties cover 57,493 square feet of net leasable area, and all have a rating of (3 pearls) or higher according to the Pearl Rating System from Estidama in Abu Dhabi.