Abu Dhabi Future Energy Company (Masdar) has announced that it is launching a sustainable real estate investment trust (REIT) with a preliminary valuation of between 950 million UAE dirhams ($259 million) and 1 billion dirhams.
The "green" REIT portfolio will primarily include four commercial properties at Abu Dhabi's Masdar city, the company, a subsidiary of Mubadala Investment Company, said in a declaration.
It will cover more than 57 thousand square meters of net leasable area.
The first green REIT in the United Arab Emirates (UAE), it will be launched at Abu Dhabi Global Market, the statement said.
Masdar, wholly owned by the Abu Dhabi government through Mubadala, was set up to develop sustainable and clean energy. Masdar City is Masdar's $22 billion carbon-neutral "green city in the desert."
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