Abu Dhabi – Mubasher: Abu Dhabi Financial Group (ADFG) is launching Sharia-compliant Etihad REIT, according to a statement
The REIT expects to raise further capital through an initial public offering (IPO) on a UAE stock exchange.
SHUAA Capital and National Bank of Abu Dhabi (NBAD) have been appointed as lead financial advisors, global coordinators, and joint bookrunners for the IPO.
Etihad REIT has a portfolio of ten income-producing properties supported by founding shareholders, including Eshraq Properties in the UAE.
The REIT will benefit from ADFG which manages more than $5 billion in assets globally.
The fund's assets have a blended occupancy level of over 90%, and will be managed by an ADFG company.
