Al Mal Capital Reit acquires first educational asset in 2021

Al Mal Capital REIT has announced the acquisition of two school campuses of Al Shola Private Schools in Ajman, UAE for AED 300 million pursuant to a sale and leaseback transaction. Based on this, the school campuses have been leased back to the operator for a long-term period on a triple net basis for management and operation.

The two acquired schools, part of the Al Shola Group, are almost identical in with a total land area of approximately 300,000 Sq. ft and a built-up area of approximately 495,800 Sq.ft.

The current student enrollment stands at 3,350 students with a total capacity to accommodate up to 4,300 students. Al Mal Capital was advised by Al Tamimi & Co (Legal) and CBRE (Valuation).