Dubai's Al Mal REIT launches follow-on offering to raise up to $66mln
The REIT, managed by Al Mal Capital, a subsidiary of Dubai Investments group, plans to offer up to 220 million new units (if green shoe option is exercised) at AED 1.125 per unit.
The subscription window for the FPO will run through July 25, with the new units trading between August 8-15, subject to regulatory approvals.
The nominal value of the current fund's capital is AED 513.88 million.
(Writing by Brinda Darasha; editing by Daniel Luiz)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
an hour ago
- Al Etihad
UAE sees $34 billion crypto surge as clear regulations, zero-tax policies attract investors: Report
8 July 2025 00:30 Khaled Al Khawaldeh (Abu Dhabi) The UAE has pulled in $34 billion in crypto inflows between July 2023 and June 2024, representing a 42% year-on-year growth and positioning the Emirates among the world's leading markets for digital currencies, according to a new report by blockchain solutions provider Mining Grid. The report, titled 'The Middle East Cryptocurrency Landscape 2025', highlights how the country's forward-thinking approach to regulation, combined with its zero-tax environment for digital asset transactions, has unlocked unprecedented growth. 'The UAE's clear regulations and zero capital gains tax have created the perfect environment for crypto growth,' said Solaiman AlRifai, Founder and Board Member of Mining Grid.'With an engaged and forward-looking population, it's no surprise the country is now seen as the crypto capital of the Arab world.'Mining Grid's data shows that over 93% of the region's total crypto inflows – amounting to $338.7 billion across the Middle East during the same period – came from large, institutional-sized transfers. It says that this signals that regional markets are increasingly focused on long-term strategies rather than speculative, high-risk the Middle East now ranks as the seventh-largest crypto market, and the UAE's contribution has been pivotal in this growth. The reports analysts point to the country's clear legal frameworks, sophisticated financial infrastructure, and Web3 adoption as central factors in attracting both retail investors and major youth's interest in the market was identified as a key driver of the UAE's crypto boom. The Mining Grid report found that over 74% of Emiratis and expatriates aged 25-34 have shown active interest in media platforms were said to be central to this youth movement with the convergence of viral video trends, instant messaging communities, and on-demand crypto education empowering a new generation to enter the digital asset space with unprecedented this rapid growth come important challenges. Nearly half of young crypto users surveyed have expressed concerns about misinformation spreading across social media channels. The report warns that misleading claims or poorly understood advice can expose inexperienced investors to scams or unsustainable strategies. This presents a critical opportunity for trusted platforms, licensed exchanges, and educators to establish themselves as reliable sources of knowledge, fostering responsible engagement is also deepening. Mining Grid's data suggests that a rising number of UAE-based family offices and investment firms are now incorporating crypto allocations into their portfolios, reflecting growing confidence in the market's stability. This institutional participation has helped shift perceptions of cryptocurrencies in the Emirates from speculative instruments to viable components of diversified investment UAE's success is closely tied to its commitment to building a comprehensive crypto ecosystem. Recent regulatory milestones include frameworks set by the Dubai Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA), which have both established robust guidelines for licensing exchanges, digital asset custodians, and token issuers. 'The UAE has created the ideal environment where curiosity meets clarity. We're seeing a new generation that doesn't just want to invest in crypto but wants to understand it, build with it, and lead its next chapter,' said Rami Alsridi, Founder and CEO of Mining Grid.
Arabian Business
2 hours ago
- Arabian Business
Abu Dhabi Islamic Bank mobilises $4.63bn in sustainable finance, leads region in green sukuk
Abu Dhabi Islamic Bank (ADIB) announced it has mobilised AED17bn ($4.63bn) in sustainable finance by the end of 2024, marking major progress toward its AED60bn ($16.3bn) commitment by 2030. The milestone was detailed in the bank's newly released 2024 Sustainability Report, which outlines ADIB's environmental, social, and governance (ESG) progress in line with the UAE Net Zero 2050 and UAE 2031 national strategies. ADIB became the first Islamic bank in the region to publish sector-specific financed emissions targets, focusing on six high-emission sectors including real estate, utilities, and home finance. Abu Dhabi Islamic Bank These interim 2030 targets align with IEA Net Zero scenarios and the UAE's national decarbonisation goals. The report also showcases ADIB's: Double materiality assessment aligned with European Sustainability Reporting Standards (ESRS) First Green Sukuk allocation and impact report for its $500m green issuance Allocation of 90 per cent of Green Sukuk proceeds toward renewable energy, energy efficiency, and sustainable water infrastructure, resulting in 607,000 tonnes of avoided annual emissions Mohamed Abdelbary, Group Chief Executive Officer at Abu Dhabi Islamic Bank, said: 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. 'Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future'. Abu Dhabi Islamic Bank reported an 87 per cent reduction in Scope 1 emissions and a 3.51 per cent drop in Scope 2 emissions compared to 2022. These gains are attributed to continued investments in energy efficiency, electrification, and operational optimisation. The bank's double materiality approach ensures that it evaluates not only how sustainability affects business performance but also how ADIB's operations impact people, planet, and economy—in line with global best practice for corporate sustainability disclosures. Beyond environmental goals, ADIB strengthened its social impact commitments:
Arabian Business
2 hours ago
- Arabian Business
UAE Central Bank fines exchange houses $1.12m for anti-money laundering violations
The Central Bank of the UAE has imposed financial penalties totalling AED4.1m ($1.12m) on three exchange houses for failing to comply with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The sanctions, issued under Article (14) of Federal Decree Law No. (20) of 2018, follow detailed examinations by the Central Bank, which found significant compliance shortcomings. These included deficiencies in implementing adequate AML/CFT procedures and policies intended to detect and prevent illicit financial activity. CBUAE fines The action is part of the CBUAE's broader mandate to supervise and regulate financial institutions across the United Arab Emirates, ensuring they operate in accordance with local laws and the highest international standards. By holding exchange houses accountable, the Central Bank aims to maintain transparency, financial stability, and compliance with global AML/CFT frameworks.
