Middle East

Masdar Green REIT Signs Green Finance Commitment with First Abu Dhabi Bank

Masdar City has signed a $ 200 million loan agreement with First Abu Dhabi Bank (FAB) through a Masdar Green Real Estate Investment Trust (REIT).

This agreement, which relates to the financing of REIT portfolios, aims to facilitate further acquisitions and portfolio growth. The FAB acts as the only mandatory lead arranger and bookrunner, green loan coordinator, agent, security agent, and account bank in this transaction.

“Investors are increasingly looking for’responsible’investment opportunities and assessing companies based on specific environmental, social and governance (ESG) practices,” said Abdullah, executive director and chairman of the REIT in Masdar City. Ballerer states. “The Masdar Green REIT portfolio currently includes four commercial properties in Masdar City. Funded by First Abu Dhabi Bank, REITs are sustainable real estate through additional acquisitions of Masdar City real estate. Helps build a portfolio. “

“The properties in Masdar Green REIT’s current portfolio consume about 40% less electricity and water than comparable buildings in Abu Dhabi and aim for a sustainability rating of 3 pearls or higher with Abu Dhabi’s Estidama Pearl Building Rating System. However, one asset is also LEED Platinum. Certified. This REIT also provides a means for third-party sustainable developers to cash their assets, attracting real estate developers to Masdar City and locals. And we aim to be an internationally sustainable investor. “

Mustafa Alkarfawi, Investment Banking Group, Head of Global Banking in the United Arab Emirates and Global Head of Government, Sovereign and Public Sector, said: A way forward to fund the transition to a more sustainable future. “

In 2018, Masdar signed the first Green Revolving Credit Facility in the Middle East to support investment in global clean technology and sustainable real estate projects.

Also read: Power Letters 2020: Mohamed Jameel Al Ramahi, CEO, Masdar

https://gulfbusiness.com/masdar-green-reit-signs-green-financing-commitment-with-first-abu-dhabi-bank/ Masdar Green REIT Signs Green Finance Commitment with First Abu Dhabi Bank

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