Equitativa Dubai eyes AED 200mn deals for Emirates REIT by 2020


Equitativa (Dubai), GCC’s largest Real Estate Investment Trusts (REITs) manager, is planning an investment of up to $54.4mn (AED200mn) in new real estate acquisitions for Emirates REIT by early 2020.

Equitativa, manager of Nasdaq-listed Emirates REIT – the world’s largest shariah-compliant REIT – made the announcement on the back of its first half results for 2019, which saw a rise of 9.1% in its net property income, compared to the same period in 2018.

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According to the announcement, there was an increase of 13.5% in EBITDA for the same period, despite challenging market conditions and a profit of more than AED 4mn for the period, despite market revaluation of real assets, breaking the trend in the sector. Emirates REIT’s fund expenses saw a decrease of 5%, improvements in receivables, and the occupancy rate remained stable at 75%, according to the first half financial results.

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Commenting on the developments, Sylvain Vieujot, CEO of Equitativa Dubai, said, “Our portfolio enjoys a stable occupancy due to our active management and the quality of the assets. We are now in an active acquisition mode and are considering a number of transactions that will boost Funds from Operations (FFO), which remained stable for the period.”

Equitativa Dubai eyes AED 200mn deals for Emirates REIT by 2020

Deepa Rajan wanted to be a lawyer, so she became a journalist. As a sub-editor her favourite thing to do was rewrite copies. Now, a 15-plus-years career later, she spends time rewriting her own copies. Deepa loves the Oxford comma and binge-watching shows when not serving as a “Tell Me Why” encyclopaedia to her 5-year-old. Write to Deepa at: [email protected]

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