Arab Today, arab today nbad launches uae real estate fund
Last Updated : GMT 18:22:15
Arab Today, arab today
Arab Today, arab today

NBAD launches UAE real estate fund

Arab Today, arab today

Arab Today, arab today NBAD launches UAE real estate fund

Dubai - Arabstoday

National Bank of Abu Dhabi (NBAD) has launched a real estate fund in partnership with a Kuwaiti firm to seek investment opportunities in the United Arab Emirates’ property sector, the lender said on Sunday. NBAD, the UAE’s top bank by market capitalisation, has teamed up with Kuwaiti firm Gulf Investment Corporation for the venture, which it plans to convert to a real estate investment trust (REIT) in the future. NBAD Investment Management is a fully owned subsidiary of the bank and will be incorporated in the Dubai International Financial Centre (DIFC), regulated by the Dubai Financial Services Authority. “In the future, it is our intention to bring this fund to an initial public offering, thereby creating what we expect to the region’s first REIT,” Mahmood al-Aradi, senior general manager of NBAD’s financial markets division said in a statement. Aradi added later that the IPO could take place in the next “couple of years”. The fund will focus on high-quality income-generating properties in the UAE. It is seeking a portfolio of between 7-10 properties in the industrial and warehousing sectors. The fund will be advised by Abu Dhabi National Properties, an NBAD subsidiary, and property consultants Knight Frank. Target investors are global institutional investors looking at diversification opportunities in the region. “We are seeing a special interest from investors wanting to allocate to the MENA (Middle East and North Africa) region. The Gulf Cooperation Council is a new geography for many international investors,” Russell Read, deputy chief executive officer and chief investment officer at GIC, told reporters.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nbad launches uae real estate fund Arab Today, arab today nbad launches uae real estate fund

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nbad launches uae real estate fund Arab Today, arab today nbad launches uae real estate fund

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday