Masdar Green REIT acquires $254m sustainable real estate

Masdar Green REIT, the UAE’s first real estate investment trust to invest in sustainable real estate assets, has completed the acquisition of property worth AED 934 million ($254.28), raising its portfolio value to AED 1.91 billion, the UAE state-owned WAM news agency reported.

The announcement follows a $200 million green loan secured from First Abu Dhabi Bank in January to help finance the REIT’s growth.

The fund’s latest acquisitions include two fully occupied, LEED Platinum-rated buildings within Masdar City – the head office of Abu Dhabi Quality and Conformity Council, and Etihad Airways’s Eco Residences complex.

The third property acquired is LEED Gold-certified Technology Innovation Institute headquarters.

All three assets have achieved a 3 Pearl rating under the Abu Dhabi Estidama Pearl building rating system.

Anthony Taylor, senior executive officer of Masdar Capital Management Limited, said: “Climate-resilient development is essential if we are to reach net zero. The fact that the REIT has more than doubled in assets in the two years since incorporation underlines the potential for sustainable real estate development in the region.”

Masdar Green REIT was launched in December 2020 with an initial portfolio of four commercial properties valued at AED 948 million at Masdar City.

Masdar Green REIT is now targetting professional investors for cornerstone equity participation as it grows its portfolio with additional, pre-identified sustainable assets, within Masdar City and across the UAE, the report said.