Dubai Financial Market (DFM) hosted a bell ringing ceremony to celebrate the commencement of Real Estate Investment Trusts (REITs) trading with the listing of Al Mal Capital’s REIT, (trading symbol: AMCREIT). The introduction of REITs is a key milestone in DFM’s journey to diversify product offering and asset classes, broadening the scope of opportunities offered to its vast investor base of local and international investors.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments and Chairman of Al Mal Capital, rang the market opening bell in the presence of His Excellency Essa Kazim, Chairman of DFM, Hassan Al Serkal, CEO of DFM, Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital and Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM.
The listing culminates the successful floating of the new fund by Al Mal Capital, a subsidiary of Dubai Investments, in November 2020. The AED 350 million proceeds of this fund will be invested by the company in a Sharia-compliant diversified portfolio of income generating properties that serve different sectors such as; healthcare, education and industrial assets, with a target annual return of 7%.