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UAE launches first-ever sustainable real estate investment trust

Article-UAE launches first-ever sustainable real estate investment trust

Emirates NBD Asset Management will be managing the UAE’s first-ever sustainable real estate investment trust, the Masdar Green Reit.

The Abu Dhabi future energy company, Masdar, has joined up with Emirates NBD to create the country’s first sustainable real estate investment trust.

Dubbed the “Masdar Green Reit” the new entity will offer investors an opportunity to buy into a plethora of sustainable real estate options.

Some of the options included in the portfolio include several properties in Masdar City in the capital, all of which consume significantly less electricity and water (approximately 40 per cent less) than other buildings in the city.

“Investors are increasingly looking for ‘responsible’ investment opportunities and evaluate companies based on specific environmental, social and governance practices criteria. [In this way] the Masdar Green Reit gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City,” said Abdulla Balalaa, the acting executive director of sustainable real estate at Masdar City.

Out of the primary sustainable offerings at Masdar City, one has obtained a US-recognised LEED Platinum rating, while three have a three Pearl rating from Abu Dhabi’s Estidama system.

Masdar suggested they were confident that the move would lead to future, similar developments: “”The Masdar Green Reit will also assist more sustainable real estate assets coming to market by providing institutional funding to support the future expansion of Masdar City through new sustainable developments,” a spokesperson for the group said.

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