UAE: Al Mal Capital REIT announces follow-on public offering, 3.75% dividend for H1 2025
Al Mal Capital REIT (AMC REIT) the first REIT listed on the Dubai Financial Market (DFM), regulated by the Securities and Commodities Authority (SCA), and managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC, is inviting existing unitholders, as well as UAE and GCC individual and institutional investors, to subscribe to new units in its closed ended Real Estate Investment Trust (REIT) through a follow-on public offering (FPO).
The FPO, approved by the SCA, will issue up to 220,000,000 new units at a price of AED1.1, increasing the issued capital of the Fund from AED513,889,872 up to AED733,889,872.
The raise will be used to expand the REIT’s portfolio of income generating real estate assets carefully selected from secure growth sectors, including healthcare, education and mission-critical industrial assets.
The subscription period will run from 7th July to 25th July 2025, with trading of the new units expected to commence on the Dubai Financial Market (DFM) around 8th August 2025, subject to regulatory and market approvals.
Al Mal Capital REIT has a proven and stable track record having delivered a 7% return since 2023. It continues to target ongoing returns of c.+7% for investors. In line with this performance, the REIT is also announcing a cash dividend of AED 0.0375 per unit for the interim period ending 30 June 2025, representing an annualized yield of 7.5%. To receive this dividend, investors must purchase units no later than 24 June 2025, as only unitholders on record as of 26 June 2025 will be eligible.
Commenting on the FPO Naser Al Nabulsi, Vice Chairman and CEO at Al Mal Capital, said, “There is a growing investor appetite for Regional REITs as shown by recent offerings on the DFM that saw record-breaking retail participation, especially in the UAE. We are therefore pleased that we can offer more investors a chance to access Al Mal Capital REIT, the first REIT listed on the DFM, which continues to deliver strong and consistent dividends. Our focus on resilient real estate sectors which offer sustainable and recurring income based on secure cashflow and long-term demand, will be very attractive for both institutional and retail buyers.”
Al Mal Capital REIT is managed by an experienced and respected investment team with a strong track record in managing income-generating commercial real estate assets. AMC REIT benefits from a robust SCA regulated REIT framework, and oversight from an experienced committee, which qualifies opportunities, oversees and ensures the fund’s compliance with regulatory standards.
The FPO is open to UAE and GCC retail and institutional investors. A priority allocation will be available to subscribers who already hold units in AMC REIT, and whose names appear in the register of unitholders as of 26th June 2025 (the “Record Date”). These investors will be allocated units equal to approximately +39% of their current holdings, ensuring their ownership remains undiluted following the capital increase.
A secondary allocation of unsubscribed units, after completion of the priority allocation, will have a Minimum Guaranteed Allocation (MGA) of up to 2,000 units per eligible new subscriber, subject to request and availability.
Al Mal Capital REIT is a closed ended real estate investment trust (REIT) that is currently invested in a diversified portfolio of income generating real estate assets in the UAE, based on secure long-term lease agreements with a strong credit profile. The Fund gives UAE and GCC investors access to an asset class with long-term fundamentals, based on a strategy focused on investing in strong-performing UAE sectors, including healthcare, education and industrial assets.
Tuesday, 24 June 2025
Aldar upgraded to ‘A’ rating in MSCI ESG Rating assessment
Aldar upgraded to ‘A’ rating in MSCI ESG Rating assessment
Aldar has been upgraded to an ‘A’ rating in the latest MSCI ESG Rating assessment, placing the company in the top quartile of real estate companies tracked by MSCI globally.
The rating upgrade reflects the company’s continued progress in strengthening its environmental, social, and governance practices across its operations in alignment with global sustainability standards.
MSCI is a leading global rating agency that evaluates companies’ exposure to industry-specific ESG risks and their ability to manage those risks relative to peers. The ratings are widely used by investors to evaluate how companies manage long-term risk and an ‘A’ rating signals that the integration of ESG principles into the company’s long-term strategy is having a tangible impact.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said, “This upgrade reflects the significant strides we’ve made in embedding ESG as a core principle of how we do business across the group. As we continue delivering on our strategic growth roadmap, we remain committed to responsible value creation and transparency, ensuring we contribute positively to our stakeholders, the local economy, and the environment. Achieving an ‘A’ rating from MSCI is a strong endorsement of our actions and a motivating step to advance our position within the top quartile of our sector globally.”
Aldar’s strongest increase in performance came from an improvement in governance practices, with the company’s corporate behaviour score, measuring both business ethics and transparency, increasing by 2.1 points, reaching 8.3 out of 10. This is at the top end for the sector in EMEA emerging markets. The best-in-class corporate behaviour, in tandem with gains across environmental assessment category, drove the overall upgrade from MSCI.
Aldar has been upgraded to an ‘A’ rating in the latest MSCI ESG Rating assessment, placing the company in the top quartile of real estate companies tracked by MSCI globally.
The rating upgrade reflects the company’s continued progress in strengthening its environmental, social, and governance practices across its operations in alignment with global sustainability standards.
MSCI is a leading global rating agency that evaluates companies’ exposure to industry-specific ESG risks and their ability to manage those risks relative to peers. The ratings are widely used by investors to evaluate how companies manage long-term risk and an ‘A’ rating signals that the integration of ESG principles into the company’s long-term strategy is having a tangible impact.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said, “This upgrade reflects the significant strides we’ve made in embedding ESG as a core principle of how we do business across the group. As we continue delivering on our strategic growth roadmap, we remain committed to responsible value creation and transparency, ensuring we contribute positively to our stakeholders, the local economy, and the environment. Achieving an ‘A’ rating from MSCI is a strong endorsement of our actions and a motivating step to advance our position within the top quartile of our sector globally.”
Aldar’s strongest increase in performance came from an improvement in governance practices, with the company’s corporate behaviour score, measuring both business ethics and transparency, increasing by 2.1 points, reaching 8.3 out of 10. This is at the top end for the sector in EMEA emerging markets. The best-in-class corporate behaviour, in tandem with gains across environmental assessment category, drove the overall upgrade from MSCI.
CB #UAE imposes financial sanction of $545k on exchange house
CBUAE imposes financial sanction of $545k on exchange house
The Central Bank of the UAE (CBUAE) imposed a financial sanction of amount AED2,000,000 on an exchange house operating in the UAE, pursuant to Article 137 of the Decretal Federal Law No. 14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments.
The financial sanction has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the exchange houses industry and the UAE financial system.
The Central Bank of the UAE (CBUAE) imposed a financial sanction of amount AED2,000,000 on an exchange house operating in the UAE, pursuant to Article 137 of the Decretal Federal Law No. 14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities, and its amendments.
The financial sanction has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with AML/CFT policies and procedures.
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards adopted by the CBUAE to safeguard the transparency and integrity of the exchange houses industry and the UAE financial system.
Strait of Hormuz: Mideast Oil Flows Dived Monday, Set to Rebound - Bloomberg
Strait of Hormuz: Mideast Oil Flows Dived Monday, Set to Rebound - Bloomberg
The flow of oil out of the Persian Gulf plunged on Monday — a sign that some owners have have been wary of the security situation — but are on course to recover sharply.
Outbound tanker shipments via the vital Strait of Hormuz, a waterway handling a fifth of the world’s oil, declined by 45% compared with average flows observed this month, according to vessel tracking-data compiled by Bloomberg.
However, early data for Tuesday appear to show a sharp recovery — possibly a sign that vessel owners are becoming more comfortable about security risks amid a fragile ceasefire between Israel and Iran.
Still, safety in the strait remains in question, with the US accusing both parties of breaching the truce agreement announced by President Donald Trump within hours of its declaration.
The seven-day rolling average of oil tankers departing the Persian Gulf dropped to 20, from an average of 22 ships since the conflict began on June 13. Inbound flows were in line with the average.
Transits of liquefied petroleum gas tankers dropped to about one-third of previous levels on Monday, mostly reflecting inbound traffic. Liquefied natural gas carriers were within daily norms of 5-6 vessels. Inbound transits of bulk carriers remain below norms.
NOTE: This tracker will be published during heightened tensions involving Iran, and aims to capture traffic for all classes of commercial shipping.
The flow of oil out of the Persian Gulf plunged on Monday — a sign that some owners have have been wary of the security situation — but are on course to recover sharply.
Outbound tanker shipments via the vital Strait of Hormuz, a waterway handling a fifth of the world’s oil, declined by 45% compared with average flows observed this month, according to vessel tracking-data compiled by Bloomberg.
However, early data for Tuesday appear to show a sharp recovery — possibly a sign that vessel owners are becoming more comfortable about security risks amid a fragile ceasefire between Israel and Iran.
Still, safety in the strait remains in question, with the US accusing both parties of breaching the truce agreement announced by President Donald Trump within hours of its declaration.
The seven-day rolling average of oil tankers departing the Persian Gulf dropped to 20, from an average of 22 ships since the conflict began on June 13. Inbound flows were in line with the average.
Transits of liquefied petroleum gas tankers dropped to about one-third of previous levels on Monday, mostly reflecting inbound traffic. Liquefied natural gas carriers were within daily norms of 5-6 vessels. Inbound transits of bulk carriers remain below norms.
NOTE: This tracker will be published during heightened tensions involving Iran, and aims to capture traffic for all classes of commercial shipping.
#SaudiArabia: Private Equity Firm Jadwa Puts UniPharma Stake on Sale - Bloomberg
Saudi Arabia: Private Equity Firm Jadwa Puts UniPharma Stake on Sale - Bloomberg
Jadwa Investment Co. is looking to sell its stake in one of Saudi Arabia’s largest pharmaceutical groups, according to people familiar with the matter, offering buyers an opportunity to tap into a fast-growing segment of the kingdom’s economy.
The private equity firm is working with EFG Hermes to divest its 51% stake in UniPharma, the people said, asking not to be named as the information is private. Jadwa, which acquired the stake in UniPharma in 2020, is seeking a valuation of about 1 billion riyals ($267 million), they said.
The deal has been presented to both local and international private equity firms, as well as strategic buyers.
Representatives for Jadwa and EFG declined to comment.
The sale talks come amid a potential pause in Iran and Israel’s 12-day war, following a ceasefire announcement by US President Donald Trump. The conflict has so far not dented mergers and acquisitions activity, but bankers say deals could be put on hold if it drags on.
UniPharma is Saudi Arabia’s largest pharmaceutical wholesaler and operates a network of more than 70 retail outlets across the kingdom, according to Jadwa’s website.
Jadwa, one of Saudi Arabia’s most active investment managers, plans to raise up to 400 million riyals for new Middle East deals, a senior executive told Bloomberg News. That would bring total fundraising for its flagship blind pool fund to 1.7 billion riyals by year-end.
Managing about 100 billion riyals in client assets, Jadwa has recently exited investments in the kingdom’s largest dental and dermatology provider and a health-care group. The Gulf’s medical sector continues to grow, driven by rising incomes and significant government spending.
The number of private equity deals in the Middle East have nearly tripled from a decade ago, and assets under management have nearly doubled, according to researcher Preqin. Increased PE activity has the potential to further fuel deal volumes in the region, where Bain & Co. estimates overall M&A activity reached $29 billion last year.
Jadwa Investment Co. is looking to sell its stake in one of Saudi Arabia’s largest pharmaceutical groups, according to people familiar with the matter, offering buyers an opportunity to tap into a fast-growing segment of the kingdom’s economy.
The private equity firm is working with EFG Hermes to divest its 51% stake in UniPharma, the people said, asking not to be named as the information is private. Jadwa, which acquired the stake in UniPharma in 2020, is seeking a valuation of about 1 billion riyals ($267 million), they said.
The deal has been presented to both local and international private equity firms, as well as strategic buyers.
Representatives for Jadwa and EFG declined to comment.
The sale talks come amid a potential pause in Iran and Israel’s 12-day war, following a ceasefire announcement by US President Donald Trump. The conflict has so far not dented mergers and acquisitions activity, but bankers say deals could be put on hold if it drags on.
UniPharma is Saudi Arabia’s largest pharmaceutical wholesaler and operates a network of more than 70 retail outlets across the kingdom, according to Jadwa’s website.
Jadwa, one of Saudi Arabia’s most active investment managers, plans to raise up to 400 million riyals for new Middle East deals, a senior executive told Bloomberg News. That would bring total fundraising for its flagship blind pool fund to 1.7 billion riyals by year-end.
Managing about 100 billion riyals in client assets, Jadwa has recently exited investments in the kingdom’s largest dental and dermatology provider and a health-care group. The Gulf’s medical sector continues to grow, driven by rising incomes and significant government spending.
The number of private equity deals in the Middle East have nearly tripled from a decade ago, and assets under management have nearly doubled, according to researcher Preqin. Increased PE activity has the potential to further fuel deal volumes in the region, where Bain & Co. estimates overall M&A activity reached $29 billion last year.
Middle Eastern bourses advance on #Iran-Israel ceasefire | Reuters
Middle Eastern bourses advance on Iran-Israel ceasefire | Reuters
Stock markets in the Middle East ended higher on Tuesday after U.S. President Donald Trump announced a ceasefire between Iran and Israel and shrugged off what he said were violations by both sides just hours later.
The 12-day conflict saw millions flee Tehran and prompted fears of further escalation in the region.
Saudi Arabia's benchmark index (.TASI), opens new tab advanced 2.4%, boosted by a 2.8% rise in Al Rajhi Bank (1120.SE), opens new tab and a 3.2% increase in the country's biggest lender Saudi National Bank (1180.SE), opens new tab.
Among other gainers, recently-listed Flynas (4264.SE), opens new tab jumped 6.6% to 79.20 riyals.
The Gulf markets continued to recover today with strong gains, boosted by news of the ceasefire, which improved market sentiment and helped investors regain their risk appetite, said Osama Al Saifi, Managing Director for MENA at Traze.
On the other hand, oil behemoth Saudi Aramco (2222.SE), opens new tab declined 1.6%, while fertilizers firm SABIC Agri-Nutrients Company (2020.SE), opens new tab retreated 4.6%.
Oil prices extended losses to hit a two-week low on what the market viewed as lower risk of supply disruptions in the Middle East following the ceasefire.
Brent crude futures were down $3.06, or 4.3%, at $68.41 a barrel at 1233 GMT.
Dubai's main share index (.DFMGI), opens new tab leapt 3.4% - its biggest intraday gain since mid-December - buoyed by a 5.1% surge in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
The Dubai index is a few whiskers away from 17-year high.
In Abu Dhabi, the index (.FTFADGI), opens new tab gained 2.5%, led by a 10% rise in Aldar Properties (ALDAR.AD), opens new tab.
The Qatari benchmark index (.QSI), opens new tab climbed 1.9%%, with Qatar Islamic Bank (QISB.QA), opens new tab rising 2.8%.
Qatar reopened its airspace after a brief suspension, its civil aviation authority said early on Tuesday, following a missile attack by Iran on an American air base in Qatar on Monday that caused no injuries.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab climbed 3.8% - its highest in over a year - as almost all its constituents were in positive territory including Commercial International Bank (COMI.CA), opens new tab, which was up 4.7%.
Stock markets in the Middle East ended higher on Tuesday after U.S. President Donald Trump announced a ceasefire between Iran and Israel and shrugged off what he said were violations by both sides just hours later.
The 12-day conflict saw millions flee Tehran and prompted fears of further escalation in the region.
Saudi Arabia's benchmark index (.TASI), opens new tab advanced 2.4%, boosted by a 2.8% rise in Al Rajhi Bank (1120.SE), opens new tab and a 3.2% increase in the country's biggest lender Saudi National Bank (1180.SE), opens new tab.
Among other gainers, recently-listed Flynas (4264.SE), opens new tab jumped 6.6% to 79.20 riyals.
The Gulf markets continued to recover today with strong gains, boosted by news of the ceasefire, which improved market sentiment and helped investors regain their risk appetite, said Osama Al Saifi, Managing Director for MENA at Traze.
On the other hand, oil behemoth Saudi Aramco (2222.SE), opens new tab declined 1.6%, while fertilizers firm SABIC Agri-Nutrients Company (2020.SE), opens new tab retreated 4.6%.
Oil prices extended losses to hit a two-week low on what the market viewed as lower risk of supply disruptions in the Middle East following the ceasefire.
Brent crude futures were down $3.06, or 4.3%, at $68.41 a barrel at 1233 GMT.
Dubai's main share index (.DFMGI), opens new tab leapt 3.4% - its biggest intraday gain since mid-December - buoyed by a 5.1% surge in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
The Dubai index is a few whiskers away from 17-year high.
According to Al Saifi, with its strong fundamentals, the Dubai stock market is in a favorable position to record new highs.
Elsewhere, budget airliner Air Arabia (AIRA.DU), opens new tab closed up 7.8% - its biggest single-day rise in over three years.
Elsewhere, budget airliner Air Arabia (AIRA.DU), opens new tab closed up 7.8% - its biggest single-day rise in over three years.
In Abu Dhabi, the index (.FTFADGI), opens new tab gained 2.5%, led by a 10% rise in Aldar Properties (ALDAR.AD), opens new tab.
The Qatari benchmark index (.QSI), opens new tab climbed 1.9%%, with Qatar Islamic Bank (QISB.QA), opens new tab rising 2.8%.
Qatar reopened its airspace after a brief suspension, its civil aviation authority said early on Tuesday, following a missile attack by Iran on an American air base in Qatar on Monday that caused no injuries.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab climbed 3.8% - its highest in over a year - as almost all its constituents were in positive territory including Commercial International Bank (COMI.CA), opens new tab, which was up 4.7%.
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