Oman REIT Acquires Sharjah School for $33M
Deal News | Apr 16, 2025 | Zawya
In a strategic move to enhance its asset portfolio and stabilize returns, Muscat-listed Oman REIT has acquired a school building in Sharjah for 120 million UAE dirhams ($32.67 million). The acquisition is structured as a sale-leaseback transaction with the Amity Group and financed through the existing credit facilities available from Muzn Islamic National Bank of Oman. Listed in February 2021, Oman REIT is recognized as the first diversified multi-asset REIT in Oman, and this latest acquisition is a part of its efforts to diversify asset composition and strengthen its portfolio.
Sectors
- Real Estate Investment Trusts (REITs)
- Education
- Banking & Finance
Geography
- Oman – Oman REIT is listed in Muscat and strategically expanding its portfolio as part of its operations in Oman.
- United Arab Emirates – The acquisition took place in Sharjah, UAE, indicating the geographical location of the acquired asset.
Industry
- Real Estate Investment Trusts (REITs) – The article discusses Oman REIT's acquisition of a property, which is pertinent to the operations and strategic expansion typical within the real estate investment trusts sector.
- Education – The acquisition involves a school building, indicating the sector of education as a direct part of the transaction.
- Banking & Finance – The transaction was financed using existing credit facilities from Muzn Islamic National Bank, linking the sector of banking and finance to the deal.
Financials
- $32.67 million – The purchase price for the school building acquired by Oman REIT in Sharjah.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Oman REIT | Buyer | Company | A Muscat-listed real estate investment trust making strategic acquisitions to diversify and stabilize its portfolio. |
| Amity Group | Vendor | Company | The seller involved in the sale-leaseback transaction of the school building in Sharjah. |
| Muzn Islamic National Bank of Oman | Financier | Company | Provided credit facilities used to finance the acquisition transaction. |