Dubai – Mubasher: Equitativa (AD) Limited launched the Residential REIT (IC) Limited in the UAE, according to a statement.
This is one of the first Shari'ah compliant residential Real Estate Investment Trusts (REITs) in the country, and the second REIT after Emirates REIT (CEIC) Limited, which was launched by the Equitativa Group.
The Residential REIT distributes at least 80% of its net income to shareholders.
Equitativa seeks to raise further funds allowing the REIT to build up a large portfolio in order to prepare for an IPO.
