Dubai, UAE, 28th of June 2024–Al Mal Capital REIT (“AMCREIT”), the first REIT listed on DFM, announcedthe acquisition of 100% equity interest in Carnation Education LLC (“Carnation”). Carnation is holding the real estate assets comprising the freehold land and buildings of Kent College Dubai (“Kent College”).
Theschool is built on land with a total plot area of 563,950 square feet and a built-up area of 334,170 square feet. Carnation has leased the land and buildings to Kent College for a 25-year period (initially commenced in November 2017) with agreed lease rentals, which can be further renewed for a similar period, which is in line with the investment mandate of AMCREIT.
Continue reading Al Mal Capital REIT expands its portfolio through acquisition of another K-12 Educational Asset