RIYADH: UAE-owned renewable energy company Masdar said that its green Real Estate Investment Trust has secured $200 million financing amid efforts to expand on acquisitions and stimulate growth of its sustainable portfolio.
The deal was signed with First Abu Dhabi Bank, known as FAB, which will be the mandated lead arranger of the transaction.
The announcement came during an official signing ceremony at the fourth edition of the Abu Dhabi Sustainable Finance Forum, as part of the Abu Dhabi Sustainability Week which started on Jan. 15 and will end today.
The new financing will help “develop Masdar’s sustainable real estate assets,” chairman of the REIT, Abdullah Balalaa, said during the event.
A year earlier, Masdar City entered agreements with Emirates NBD Asset Management to provide management services for its sustainable real estate investment trust.
The green REIT launched by Masdar, which is a subsidiary of Mubadala Investment Co., was the first of its kind in the United Arab Emirates.
Its portfolio currently includes four commercial properties at Abu Dhabi’s Masdar city.
