By: Mahmoud Gamal
Abu Dhabi – Mubasher: ENBD REIT is planning to invest more in alternative assets and to seek more acquisitions in Dubai, Abu Dhabi, and other emirates, the trust’s chairman Tariq Bin Hendi told Mubasher.
Bin Hendi added that ENBD REIT is keen on the diversification of its portfolio by investing in different asset types.
The top official stressed the quality of tenants’ role in the improvement of the trust and the avoidance of credit issues.
“Currently we have a number of high-quality tenants renting floor space in the ENBD REIT portfolio. A few that stand out are Oracle, which is in The Edge and whose brand is on the building, as well as Snapchat and McGraw Hill,” Bin Hendi commented.
When asked about the listing on Nasdaq Dubai, ENBD REIT’s chairman stated that the listing on the regional stock exchange helped the trust in commencing its “strategic acquisition plan”.
“Nasdaq Dubai proved to be the ideal exchange for ENBD REIT, providing access to international capital and promoting best practice standards of corporate governance among issuers.”
The recent incentives and legislative modifications announced by the UAE cabinet will boost the real estate market and attract more international investors to the GCC nation, Bin Hendi noted.
“[These] effects are likely to take time but can be far-reaching as they would impact positive not only the commercial office sector but also residential, industrial, education and healthcare as demand increases with a rising population.”
ENBD REIT is a UAE-based the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management.
Translated by: Mohammad Khalid
