Mubadala Real Estate seeks JV partners and plans Abu Dhabi Reit
Mubadala Real Estate, the property division of Abu Dhabi’s state investment fund Mubadala Investment Company, is in talks with potential joint venture partners to develop future projects, and plans to launch a real estate investment trust (Reit) as it prepares for an expected uptick in the UAE property market from 2019. “We’re in discussions with two or three developers to do joint ventures with them on a plot-by-plot basis,” Ali Eid Al Mheiri, executive director of Mubadala Real Estate, said in an interview with The National. “Those talks have yet to be finalised, [but] we should be able to announce them in 2018.” The company would not merge with another developer, he said. Mubadala’s proposed Reit would initially incorporate assets from the half-developed Al Maryah Island, the free zone that houses Abu Dhabi Global Market (ADGM).
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