Al Mal Capital REIT (AMCREIT), the first REIT listed on DFM, and managed by Al Mal Capital PSC will pay half-yearly dividend of AED2.5 fils ($0.68) per unit, to the unit holders as approved by the fund manager at the AGM.
Al Mal Capital REIT, is focused on adding quality real estate assets in the designated sectors, including healthcare, education and industrial. The operating model is designed to provide a steady income, long term capital appreciation and diversification benefits to its stakeholders.
AMCREIT’s first acquisition of two school campuses of Al Shola Private Schools in Ajman for AED300 million are leased back to the operator on a triple net basis resulting in realized rental income and thereby facilitating the half-yearly dividend distribution.
Value proposition
“Al Mal Capital REIT has demonstrated capabilities to navigate the challenges that were posed by the unprecedented circumstances and the performance of the fund is a result of the commitment and the resilience of the model to quickly adapt and deliver. Al Mal Capital REIT’s strategy is focused on generating an attractive value proposition model with a high level of visibility and sustainability,” said Naser Nabulsi, Vice Chairman and CEO, Al Mal Capital PSC.
“Al Mal Capital REIT’s robust and continued growth is a step forward in initiating a progressive dividend policy for the unitholders in the coming years. As the REIT is assessing several investment opportunities, the approved half-yearly dividend recognizes the REIT’s financial position and reinforces the confidence in growth prospects and cash-flow generation ability going forward,” Sanjay Vig, Managing Director, Al Mal Capital PSC.
Listed on the Dubai Financial Market (DFM) as ‘AMCREIT,’ Al Mal Capital REIT will continue to maintain elevated levels of transparency and constructive engagement with unitholders.-- TradeArabia News Service
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