About Fund Manager
Al Mal Capital PSC

Founded in 2005, Al Mal Capital PSC is a diversified financial services company and a subsidiary of Dubai Investments PJSC. It is licensed by the Capital Markets Authority (CMA). Its current total Client Assets amounts to AED 3.5 bn which includes Assets under Management of AED 2 bn (as of 31 December 2025).

Al Mal Capital PSC - A financial services provider of choice – four business lines:

  • Direct Investments: Investment and portfolio management, and acquisition of income generating real estate to create secure income stream and long-term capital value
board of directors
 
Mr. Khalid Jassim Kalban
Chairman
Mr. Khalid Bin Kalban is one of the most well-known businessmen in the UAE, thanks to his broad experience in different fields varying from industrial, financial and investment sectors. He has played a key...
Mr. Ali Fardan Al Fardan
Vice Chairman
Mr. Ali Fardan Al Fardan is an independent & non-executive Director on the Board of Dubai Investment for the last 14 years. He is also member of two of the Board Committees, i.e. Audit Committee and Nomination and Remuneration Committee...
Mr. Abdulaziz Al Serkal
Board Member
Mr. Abdulaziz Bin Yagub Al Serkal is the CEO of Industrial Platform at Dubai Investments, consisting of a portfolio of subsidiaries which offer a comprehensive range of products and services in the construction sector...
Mr. Mohammed Saeed Alraqbani
Board Member
Mr. Mohammed Saeed Al Raqbani is the General Manager of Dubai Investments Industries and Masharie, a subsidiary of Dubai Investments PJSC. With over 28 years of experience...
Mr. Mohamed Saif Darwish Ahmed Al Ketbi
Board Member
Mr. Mohammad Saif Darwish Ahmed Al Ketbi is an independent & non-executive Director on the Board of Dubai Investments PJSC. He is also member of two Board Committees, i.e. Audit Committee, and Nomination and Remuneration Committee...
Mr. Mushtaq Masood
Board Member
Mr. Mushtaq Masood has been with Dubai Investments PJSC since 2008, currently holding the Group CFO position. From 1999 to 2007, Mushtaq was associated with the Cupola Group and later on Abraaj Capital...
Mr. Naser Yousef Almarzooqi
Board Member
Mr. Naser Yousef Al Marzooqi is a senior banking executive with over 30 years of experience in international, wholesale, and corporate banking. He served as Chief Executive Officer of Emirates NBD in Saudi Arabia...
management team
 
Mr. Sanjay Vig
Chief Executive Officer
Sanjay Vig is the Chief Executive Officer of Al Mal Capital PSC and its subsidiaries, bringing over four decades of international leadership experience across the Middle East and India...
Mr. Roshan Shah
Managing Director of Corporate Advisory & Direct Investments MENA Al Mal Capital
Roshan is the Managing Director of Corporate Advisory & Direct Investments MENA at Al Mal Capital PSC. He joined Al Mal Capital in March 2017.
Mr. Saif Al Serkal
Head- Business Development Al Mal Capital
Saif is the Head for the Business Development. He joined Al Mal Capital PSC in September 2017. He started his career in PwC – Corporate Advisory and M&A team in Dubai...
Arjun Venkataraman
Director Al Mal Capital
Arjun is a member of the Direct Investments and Corporate Advisory teams at Al Mal Capital PSC since April 2021 and is responsible for origination, placement and execution streams of the businesses
Fatema Alhaj
Vice President Al Mal Capital
Fatema is the Board Secretary of Al Mal Capital PSC and the AMCREIT Investor Relations. She joined Al Mal Capital PSC in August 2020...
Saad Nassif
Vice President Al Mal Capital
Saad is a member of the Direct Investments team at Al Mal Capital since 2018 and is also responsible on liaising with the regulator for the REIT ...
Success stories
 
Asset
Single let Income generating K-12 school (Kent College Dubai)
Location
Dubai, UAE
Leasable Area
560,000 sq. ft. (plot area)
335,000 sq. ft. (built up area)
Entry
2017
Average Cash Yield since entry
c. 8.2% p.a. annualized paid quarterly
Transaction Structure
Acquired 100% and leased back on to the operator
Entry Cap Rate
7.5% (avg. 8% for hold period)
Purchase Price
c. $100m+ (100%)
Return - Multiple on Invested Capital
N/A (not realized)
Asset
Multi-let income generating shopping complex (Poinsettia Plaza)
Location
California, USA
Leasable Area
153,205 sq. ft.
Entry
2016
Average Cash Yield since entry
c. 7.6% p.a. annualized paid quarterly (as of end of 2019)
Transaction Structure
Acquired c. 42%
Entry Cap Rate
5.4%
Purchase Price
c. $54m (100%)
Return - Multiple on Invested Capital
N/A (not realized)
Asset
Income generating multi family complex
Location
Louisiana, USA
Leasable Area
240,588 sq. ft.
Entry
2009
Exit
2015
Transaction Structure
Acquired 57.2%
Return - Multiple on Invested Capital
1.7x (realized)
Asset
Income generating office building (FALCON HOUSE)
Location
DIP, Dubai, UAE
Leasable Area
72,771 sq. ft.
Entry
2006
Exit
2017
Return - Multiple on Invested Capital
1.3x (realized)
Asset
Income generating showrooms and offices (Indigo)
Location
Sheikh Zayed Road, Dubai, UAE
Leasable Area
28,003 sq. ft.
Entry
2007
Exit
2014
Return - Multiple on Invested Capital
1.25x (realized)
Asset
Kent College - Built in 2015, a premium K-12 British curriculum school with 2,200 student capacity
Location
Nad Al Sheba, Dubai, UAE
Type
Educational (single let)
Land Area
563,950 sq. ft.
Built-up area
339,062 sq. ft.
Acquisition value
AED 395 million
Entry capitalization rate
7.53%
Lease type
Single let - Triple Net (NNN)
Acquisition date
26 June 2024
Asset
NMC Royal Hospital + Falcon House – Built between (2009-2013 and 2023)
Location
Dubai Investments Park, Dubai, UAE
Type
Integrated Healthcare + Commercial Building
Land Area
191,637 sq. ft.
Built-up area
472,099 sq. ft.
Acquisition value
AED 355 million
Entry capitalization rate
7.8%
Lease type
NMC Royal Hospital: Single let – Double Net (NN)
Falcon House: Multi-tenant 97% occupancy
Acquisition date
30 September 2025

For more information, please visit: www.almalcapital.com