Dubai - Mubasher: ENBD REIT, a Sharia-compliant real estate investment trust managed by Emirates NBD Asset Management, on Monday celebrated its One Year Anniversary for its listing on the Nasdaq Dubai exchange, highlighting a surge in its net asset value (NAV).
ENBD REIT’s total NAV reached AED 1.1 billion ($300 million) by the end of December 2017.
“At the time of listing on Nasdaq Dubai, the strong interest we received from GCC investors was a testament to the appetite that existed for our equity story, and of the appeal of the local REIT market,” ENBD REIT chairman Tariq Bin Hendi said.
Over the past year, ENBD REIT acquired four new assets, namely: the Uninest student accommodation facility in Dubailand, South View School in Remraam Community, The Edge office building in Dubai Internet City, and Phase 1 of the Souq Extra Community Retail Centre, ENBD REIT added in a bourse statement.
The Nasdaq Dubai-listed Emirati REIT has also reached an agreement for the potential acquisition of Phase 2 of Souq Extra Community Retail Centre, noting that the deal will be completed by the end of 2018.
“The success of ENBD REIT’s listing demonstrates the capacity of Dubai’s capital markets to strengthen and support the nation’s real estate sector," Nasdaq Dubai CEO Hamed Ali commented.
