Masdar enters strategic agreement with Emirates NBD Asset Management to provide services for UAE's first 'green' REIT

- Sustainable real estate investment trust (REIT) established at Abu Dhabi Global Market under the first private REIT regime in MENA

- The Masdar Green REIT has received approval to commence activities from ADGM's Financial Services Regulatory Authority (FSRA)

ABU DHABI, U.A.E, Jan. 20, 2021 /PRNewswire/ -- Masdar, a subsidiary of Mubadala Investment Company and a pioneer in sustainable urban development, has partnered with Emirates NBD Asset Management to receive management services for the UAE's first sustainable real estate investment trust – the Masdar Green REIT. Together, Masdar Capital Management (a recently established FSRA Regulated Fund Manager) and Emirates NBD Asset Management bring significant experience and expertise in sustainable real estate and property asset management to the partnership.

Masdar announced it was launching the REIT, the first in the UAE to invest solely in sustainable real estate projects, during Abu Dhabi Sustainability Week (ADSW) in January last year. The Masdar Green REIT has been established at Abu Dhabi Global Market (ADGM) as a Qualified Investor Fund (QIF) and offers an attractive opportunity for professional investors through private placement to invest in a unique portfolio of stable, income-producing sustainable real estate assets. Masdar also confirmed that the REIT has now received approval from ADGM's Financial Services Regulatory Authority to begin operations.

The Masdar Green REIT's portfolio currently includes four commercial properties within Masdar City, the pioneering sustainable urban development project, and technology and innovation hub, in Abu Dhabi. All of the properties consume approximately 40 percent less electricity and water than comparable buildings in Abu Dhabi – giving them a rating of three Pearls or above on Abu Dhabi's Estidama Pearl Building Rating System, while one is also LEED Platinum certified.

"The Masdar Green REIT is the first of its kind in the region and further demonstrates Masdar's commitment to pioneering sustainable development," said Abdulla Balalaa, Acting Executive Director, Sustainable Real Estate, Masdar City. "Investors are increasingly looking for 'responsible' investment opportunities and evaluate companies based on specific environmental, social and governance ('ESG') practices criteria. The Masdar Green REIT gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City. This REIT also provides a vehicle through which third-party, sustainable developers can monetize their assets, attracting both real estate developers to Masdar City, and aspiring local and international sustainable investors."