Mubasher: Rasmala completed, in partnership with Ajman Bank and other leading Gulf investors, the acquisition of 72 warehouses in Dubai covering nearly 600,000 sq. ft. (BUA), according to a press release.
The transaction, which is valued at approximately AED 300 million, was financed through equity and Sharia compliant financing facility, with Ajman Bank participating as a strategic seed investor and sole financier.
The acquisition is done through a sale and leaseback arrangement for the next seven years.
Located in Dubai Investments Park, the warehouses benefit from their close proximity to Jebel Ali Free Zone.
“These properties are sub-let to a diverse group of 31 high quality tenants operating in sectors such as F&B, retail and manufacturing,” the statement highlighted.
