Dubai – Mubasher: ENBD REIT, a Shari'a-compliant real estate investment trust, on Wednesday reported a 1.71% increase in its Net Asset Value (NAV) to $300 million (AED 1.1 billion) in the three-month period ended 31 December 2017, according to the NAV report.
The value of ENBD REIT’s total property portfolio has reached $460 million (AED 1.7 billion), including various holdings in 11 properties across the office, residential, and alternative real estate sectors, the report found.
ENBD REIT also stated that it adjusted its dividend calendar to coincide with its financial year-end on 31 March and, accordingly, the next dividend declaration is planned to take place at the end of March.
The proposed dividends will be paid in June 2018 after shareholders’ approve them at the annual general meeting (AGM), ENBD REIT revealed.
“We are pleased to announce a further improvement to our NAV, following the acquisition of the Souq Extra retail centre in Dubai Silicon Oasis, which we completed shortly before the end of 2017,” Anthony Taylor, head of real estate at Emirates NBD Asset Management, commented.
