Al Mal Capital REIT (AMC REIT), the first real estate investment trust listed on the Dubai Financial Market (DFM), has opened the subscription period for its Follow-on Public Offering (FPO), seeking to raise up to $65.9 million (AED 242 million).
The offering, approved by the Securities and Commodities Authority (SCA), will run from 7 July to 25 July 2025. As a part of the FPO, AMC REIT will issue up to 220 million new units priced at $0.31 (AED 1.125) per unit, which includes a subscription fee of $0.007 (AED 0.025). The offering is open to both retail and institutional investors across the UAE and the broader GCC region.
The capital raised will be used to expand the REIT’s portfolio by acquiring income-generating assets in resilient and high-demand sectors such as healthcare, education, and mission-critical industrials. This strategy aims to strengthen portfolio diversification and support consistent returns to unitholders.
AMC REIT has demonstrated solid performance since 2023, delivering a 7 percent distributed return, backed by 100 percent portfolio occupancy and stable lease agreements. The REIT maintains a Weighted Average Unexpired Lease Term (WAULT) of approximately 20 years and continues to target a stable return of around 7 percent annually.
To preserve ownership and minimize dilution, a priority allocation will be available to existing investors in the register of unitholders as of the Record Date (26 June 2025). These investors may subscribe to approximately 39 percent or more of their current holdings to maintain their ownership share and avoid dilution.
A secondary allocation of unsubscribed units will include a Minimum Guaranteed Allocation (MGA) of up to 2,000 units per eligible new subscriber, subject to request and availability. Unit allocation is scheduled between 1-8 August 2025, with trading expected to commence on the DFM between 8-15 August 2025, pending final regulatory approvals.
Investors may subscribe through First Abu Dhabi Bank (FAB) branches, FAB’s online and mobile platforms (for clients), the Central Bank’s payment system, or via Manager’s cheque. FAB is serving as the Lead Receiving Bank for the offering.
AMC REIT is a closed-ended fund managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC. The fund is invested in a diversified portfolio of UAE-based real estate assets underpinned by long-term leases with strong credit tenants, providing regional investors with exposure to stable sectors including healthcare, education, and industrial real estate.
