Dubai – Mubasher: Nasdaq Dubai-listed ENBD REIT has acquired Dubai’s first purpose-built student residence by Global Student Accommodation (GSA), according to a statement.
The Sharia-compliant real estate investment trust has acquired the 424-bed property from the global leader in student accommodation on a seven-year sale and leaseback agreement at a transaction value of AED 120 million.
The acquisition is part of ENBD REIT’s strategy to diversify its asset portfolio.
