| Market: DUBAI | Symbol: ALMAL | ISIN: AEA003630067 | Industry: Real Estate Investment Trusts |
Al Mal Capital REIT is a closed ended real estate investment trust (REIT) that invests in a diversified portfolio of income generating real estate assets in the UAE and GCC, based on secure long-term lease agreements with a strong credit profile.
The Fund will offer UAE and GCC investors access to an asset class with long-term fundamentals, through a strategy focused on investing in strong-performing UAE sectors, including healthcare, education and industrial assets, with a target return of 7% from year one
The REIT has a target fund size of AED 500 million managed by Al Mal Capital PSC with the following objectives:
- The first REIT listed on the Dubai Financial Market (“DFM”)
- Acquire a diversified portfolio of real estate properties based on secure long-term lease agreements
- Target a net dividend yield above 7% (through strong credit counter-parties)
- Maintain an optimal capital structure at all times
- Have the capability of acquiring onshore as well as offshore assets in UAE, and having the flexibility of acquiring international assets
| Share data | 24/03/2023 | ||
| Currency | AED | Volume | 0 |
| Previous Close | 3.49 | Number of Shares (mln) | 350.06 |
| Change (%) | 0.00 | Market Cap (mln) | 1,221.72 |
| Key Figures (AED'000) | 2021 | 2022 |
|---|---|---|
| Income | 2,598 | 23,132 |
| Total expense | (5,359) | (4,912) |
| Profit/loss for the period | (8,036) | 19,926 |
| Total assets | 343,820 | 355,272 |
| Total liabilities | 1,792 | 2,069 |
| Total unitholder's equity | 342,028 | 353,203 |
| Net cash used in operating activities | (1,389) | 13,347 |
| Net cash generated from investing activities | (305,275) | 706 |
| Net cash generated from financing activities | 350,064 | (8,751) |
| Basic and diluted loss per unit (AED) | (0.023) | 0.057 |
| Net asset value per unit (AED) | 0.977 | 1.009 |
