Al Mal Capital REIT acquires two schools in Ajman for 300 million dirhams


Al Mal Capital REIT, the Dubai Financial Market-listed real estate investment fund managed by Al Mal Capital, a subsidiary of Dubai Investments, has announced its acquisition of two Al Shula private schools in Ajman through a sale and leaseback transaction worth AED 300 million.

The fund said in a statement to the Dubai Financial Market today, that under the deal, the two schools were leased back to the operator for a long-term period on the basis of a triple net lease contract for management and operation.
According to the statement, the two schools that were acquired, affiliated with Al-Shula Educational Group, have a similar size with an area of ​​300,000 square feet and a built-up area of ​​495.8 thousand square feet, and the number of students currently enrolled in them is 3,350 students, with a maximum capacity of 4,300 students.

Al Mal Capital arranged the transaction in association with Al Tamimi & Company (legal advisor) and CBRE (real estate appraiser).


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