Al Mal Capital REIT to Raise AED 242M via New Issue 2025

Prime Highlights

Al Mal Capital REIT is issuing a follow-on issue of a maximum of 220 million new units at AED 1.10 per unit, to raise AED 242 million.
Subscription period is from July 7 to July 25, 2025, with new units to list about August 8, 2025.

Key Facts

Current unitholders as of June 26, 2025, are to be given priority offer of up to 39% of existing holdings.
An interim dividend of 3.75 fils per unit, reflecting an annualized yield of 7.5%, has been announced.
The funds raised will be utilized to purchase income-generating healthcare, education, and industrial assets.

Key Background

Al Mal Capital REIT, the first Dubai Financial Market (DFM)-listed real estate investment trust, has made a follow-on public offering to increase its asset base and drive long-term returns. This follows increasing investor demand for stable, income-yielding real estate vehicles in the UAE. The issue consists of a maximum of 220 million new units at AED 1.10 per unit, including a nominal issuance premium and subscription fee. The total amount sought under this offering is about AED 242 million.

The REIT, which is operated by Al Mal Capital PSC (a subsidiary of Dubai Investments PJSC), has had a consistent sound financial performance. It has earned net annualized yields of about 7% since its listing. According to this performance, an interim first-half 2025 dividend of 3.75 fils per unit has been declared at a satisfactory 7.5% annualized rate. Unitholders had to be on record by June 26, 2025, in order to be eligible for the dividend as well as the priority allocation in the new issue.

To maintain fairness and reduce dilution, current unitholders will be given a priority to buy additional units in proportion to 39% of their stake. The public offering will also contain a second tranche with assured allotments of at least 2,000 units for fresh retail investors.

Al Mal Capital REIT’s current net asset value stands at AED 577 million, with a unit NAV of AED 1.1229 and a full occupancy rate across its property portfolio. The capital raised will be strategically deployed to acquire assets in essential sectors like healthcare, education, and mission-critical industrial operations—areas that have demonstrated resilience and consistent income potential.

This action indicates the REIT’s dedication to growth as well as stable returns for its investors. It also marks further growth of the UAE’s REIT market and offers a new chance for institutional as well as retail investors to gain exposure to high-quality property investments.