IslamicFinance.de

UAE-based Residential REIT has completed new property transactions worth AED772 million ($210.1 million). The deals were closed with Abu Dhabi Islamic Bank, Arcapita and an unnamed large Saudi institution. Abu Dhabi Islamic Bank has contributed 165 residential units located in three buildings in Marina Square on Al Reem Island in Abu Dhabi. Arcapita and the Saudi institution have contributed three buildings with a total of 285 residential units located in Saadiyat Beach Residences on Saadiyat Island in Abu Dhabi. Following the new acquisitions, the Residential REIT's portfolio includes a total of 1,069 units across Abu Dhabi, Ras Al Khaimah and Dubai.