NBAD to Launch Real Estate Fund
NBAD Investment Management (DIFC) Limited, a wholly-owned subsidiary of the National Bank of Abu Dhabi (NBAD), has been authorised by the Dubai Financial Services Authority and plans to launch a real estate investment fund focused on high-quality income-generating properties in the United Arab Emirates.
Knight Frank has been appointed as real estate adviser to the fund. Along with NBAD, the Gulf Investment Corp will be one of the strategic partners in the fund.
“In the future, it is our intention to bring this fund to an initial public offering, thereby creating — what we expect to be — the region’s first publicly-traded REIT,” says Mahmo