Al Mal Capital REIT Announces Final Dividend for 2024 with Strong Financial Performance
Deal News | Mar 20, 2025 | Al Mal Capital PSC
Al Mal Capital REIT, the first Real Estate Investment Trust listed on the Dubai Financial Market, has declared a final dividend of AED 20,555,595 for the financial year 2024. This milestone dividend distribution results from enhanced unitholder capital following an April 2024 rights issue. AMCREIT's annualized yield target of 7.0% remains on track. The REIT's portfolio saw considerable growth with the acquisition of Carnation Education LLC, boosting net property income by 47% and comprehensive income by 80% as of the end of 2024. AMCREIT’s investment properties surpassed AED 1 billion, underscoring its strategic focus on the education sector with five school campuses in its portfolio.
Sectors
- Real Estate Investment Trust (REIT)
- Education
Geography
- United Arab Emirates – The geography is pertinent as AMCREIT operates in the UAE with properties and acquisitions such as the schools in Ajman, Sharjah, and Dubai.
- Dubai – Specific focus on Dubai, where AMCREIT is based and where significant acquisitions, like Kent College Dubai, were made.
Industry
- Real Estate Investment Trust (REIT) – Relevant as AMCREIT is a Real Estate Investment Trust focusing on investments in educational properties.
- Education – Industry segment involves AMCREIT's strategic portfolio growth in educational institutions, specifically with investments in school campuses.
Financials
- AED 20,555,595 – Final dividend for financial year 2024 declared by AMCREIT.
- AED 513,889,872 – Enhanced unitholders' capital from a rights issue in April 2024.
- AED 993 million – Value of AMCREIT's investment properties as of end of 2024.
- AED 61.9 million – Total comprehensive income for financial year 2024 for AMCREIT.
- AED 65.6 million – Net property income of AMCREIT for the full year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Al Mal Capital REIT | Target Company | Company | A Real Estate Investment Trust focused on educational properties in the UAE. |
| Al Mal Capital PSC | PE Firm | Company | The entity managing AMCREIT and a subsidiary of Dubai Investments PJSC. |
| Dubai Investments PJSC | Parent Company | Company | The parent company of Al Mal Capital PSC. |
| Carnation Education LLC | Acquired Company | Company | Company acquired by AMCREIT, owner of Kent College Dubai. |
| Naser Al Nabulsi | CEO | Person | Vice Chairman and CEO of Al Mal Capital PSC, overseeing AMCREIT's strategic direction. |