Al Mal Capital REIT, listed on the Dubai Financial Market, has announced the acquisition of 100% equity in Carnation Education LLC, the entity holding the freehold land and buildings of Kent College Dubai. This transaction, which aligns with AMCREIT’s strategy of investing in high-quality educational assets, diversifies its portfolio to include assets across Dubai, Sharjah, and Ajman. Opened in 2016, Kent College Dubai offers the English National Curriculum and operates on a plot totaling 563,950 square feet. The building lease to Kent College extends initially for 25 years from November 2017, renewable for a similar period. With this acquisition, AMCREIT has nearly AED 1 billion in Assets Under Management (AUM), fulfilling its capital deployment commitment from a recent rights issue. The Vice Chairman and CEO of Al Mal Capital, Naser Al Nabulsi, emphasized the synergy of this acquisition within AMCREIT’s mandate and its potential for growth within the Dubai educational sector.
Real Estate, Education, Investment Management,United Arab Emirates, Dubai
https://www.zawya.com/en/press-release/companies-news/al-mal-capital-reit-expands-its-portfolio-through-acquisition-of-another-k-12-educational-asset-jp4q5i2z