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  • A UAE-based Real Estate Investment Trust

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    A UAE-based Real Estate Investment Trust

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    A UAE-based Real Estate Investment Trust

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Latest Updates

Stay up-to-date on our news and announcements

Press Releases
In the News
Updates
ENBD REIT Announces Interim Dividend Distribution

ENBD REIT Announces Interim Dividend Distribution

20.12.2020

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Notice to creditors and shareholders of ENBD REIT (CEIC) PLC

30.11.2020

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ENBD REIT announces H1 NAV of USD 198 million (USD 0.79 per share)

ENBD REIT announces H1 NAV of USD 198 million (USD 0.79 per share)

26.11.2020

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ENBD REIT announces calling on the corporate guarantee of its student accommodation tenant, Uninest, in respect of rent due

ENBD REIT announces calling on the corporate guarantee of its student accommodation tenant, Uninest, in respect of rent due

27.10.2020

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Property funds target UAE industrial assets before they turn pricey

The National

Student homes a bright spark for Dubai property market


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Property funds target UAE industrial assets before they turn pricey

The National

The Three quarters of UAE residents are upbeat about 2020, here's why


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Property funds target UAE industrial assets before they turn pricey

Gulf News

Impact of interest rate cycle on UAE property market


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Property funds target UAE industrial assets before they turn pricey

Trade Arabia

UAE 'becoming hotbed for real estate investment'


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Coronavirus: Dubai banks roll out measures to support customers

Coronavirus: Dubai banks roll out measures to support customers


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UAEs gross banking assets hit record $810bn high in February

UAE's gross banking assets hit record $810bn high in February


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UAE Cabinet approves additional $4.3bln stimulus package

UAE Cabinet approves additional $4.3bln stimulus package


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Dubai real estate industry can expect 'buying boom' post coronavirus

Dubai real estate industry can expect 'buying boom' post coronavirus


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See all Updates

 

Results and Reports

Financial Information

Annual Reports

  • 31st March 2020
  • 31st March 2019
  • 31st March 2018
  • 31st March 2017

Financial Statements

  • 31st March 2020
  • 31st March 2019
  • 31st March 2018
  • 31st March 2017

Interim Financial Statements

30th September 2020

  • Financial Statements
  • Interim Reports

30th September 2019

  • Financial Statements
  • Interim Reports

30th September 2018

  • Financial Statements
  • Interim Reports

30th September 2017

  • Interim Reports

Annual General Meetings (AGM)

  • 01st July 2020
    • Invitation
    • Notice
    • Financial Statements
    • Articles of Association July 2020
    • Redline - Articles of Association July 2020
    • Results
  • 24th June 2019
    • Invitation
    • Notice
    • Financial Statements
    • Presentation
    • Articles of Association May 2019
    • Redline - Articles of Association May 2019
    • Results
  • 03rd June 2018
    • Invitation
    • Notice
    • Financial Statements
    • Presentation
    • Results
  • 26th September 2017
    • Results

General Meetings (GM)

  • 27th November 2018
    • Notice
    • Presentation
    • Results

Factsheet

  • September 2020
  • June 2020
  • March 2020
  • December 2019
  • November 2019
  • June 2019
  • March 2019
  • December 2018
  • September 2018

Historic performance

Before listing on Nasdaq Dubai in 2017, ENBD REIT's predecessor, Emirates Real Estate Fund, delivered cumulative returns and consistently distributed dividends throughout market fluctuations, as shown below.

Performance History - EREF

Fund Performance History - ENBD REIT

*Source: Emirates NBD AM, A Share Class, bid to bid, USD terms with net income reinvested including capital distribution

Fund performance*

12 month return 4.80%
24 month return 13.06%
36 month return 29.65%
48 month return 44.59%
60 month return 57.46%
Since Inception 32.11%

*Source: Emirates NBD AM, Emirates Real Estate Fund A Share Class, bid to bid, USD terms with net income reinvested including capital distribution, as at 30th September 2016.

Click here for Performance

Click here to see annualized dividends

 
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Annualised dividend paid

Year Value
Dec 05 6.55
Jun 06 6.53
Dec 06 6.27
Jun 07 6.51
Dec 07 6.20
Jun 08 6.25
Dec 08 5.39
Jun 09 6.07
Dec 09 6.68
Jun 10 7.41
Dec 10 5.46
Feb 11 1.511
Year Value
Dec 11 6.57
Jun 12 5.29
Dec 12 5.65
Jun 13 5.75
Dec 13 5.50
Jun 14 5.50
Dec 14 5.75
Jun 15 5.75
Dec 15 5.75
Jun 16 5.75
Dec 16 5.85

1 Further capital distribution paid during this quarter

 

Quarterly Updates

Quarterly Investor Presentations

  • 30th September 2020
  • 30th June 2020
  • 31st March 2020
  • 31st December 2019
  • 30th September 2019
  • 30th June 2019
  • 31st March 2019
  • 31st December 2018
  • 30th September 2018
  • 30th June 2018
  • 31st March 2018
  • 31st December 2017
  • 30th September 2017
  • 30th June 2017

Quarterly Financial Information Pack

  • 30th September 2020
  • 30th June 2020
  • 31st March 2020
  • 31st December 2019
  • 30th September 2019
  • 30th June 2019
  • 31st March 2019

Quarterly Investor Calls

8th December 2020

  • Presentation
  • Transcript

3rd September 2020

  • Presentation
  • Transcript

31st December 2019

  • Presentation
  • Transcript

30th September 2019

  • Dial in details
  • Presentation
  • Transcript

31st March 2019

  • Dial in details
  • Presentation
  • Transcript

31st December 2018

  • Dial in details
  • Presentation
  • Transcript

30th September 2018

  • Dial in details
  • Presentation

30th June 2018

  • Presentation

31st March 2018

  • Invitation
  • Presentation

31st December 2017

  • Transcripts
  • Presentation

30th September 2017

  • Transcripts

30th June 2017

  • Transcripts
  • Audio

Prospectus

 
 

Image library

South View School
South View School
South View School
South View School
South View School
South View School
South View School
South View School
South View School
The Edge
The Edge
uninest
uninest
uninest
uninest
uninest
uninest
Remraam Residential
Remraam Residential
Remraam Residential
DHCC 49
DHCC 49
DHCC 49
DHCC 25
DHCC 25
DHCC 25
Burj Daman
Burj Daman
Burj Daman
Binghatti Terraces
Binghatti Terraces
Binghatti Terraces
Arabian Oryx House
Arabian Oryx House
Arabian Oryx House
Al Thuraya Tower 1
Al Thuraya Tower 1
Al Thuraya Tower 1
 
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Frequently Asked Questions

New Investors

  • What do I need to set up a broker account?

    Investors in UAE stock markets need to set up a National Investor Number, often referred to as a NIN, which is a unique number enabling investors to trade any securities that are listed on NASDAQ Dubai or other UAE exchanges in their own name. If you want to apply for a NIN, you can visit the NASDAQ Dubai website or contact your broker to apply.

  • What are the trading hours of NASDAQ Dubai?

    The trading hours of the exchange are 10am to 2pm Dubai time (6am to 10am GMT) Sunday to Thursday. Please click here for more information, or for specific information on REITs, please click on Trading REITs on NASDAQ Dubai

  • Why invest in a REIT?

    REITs are primarily aimed at investments in income-generating properties, providing investors with the opportunity to access the real estate asset class. REITs typically provide their shareholders exposure to a variety of real estate assets through a single investment instrument.

  • What are the benefits of investing in a REIT rather than buying actual properties?

    There are four key benefits to investing in a REIT. First, there is the flexibility of adjusting the amount you invest to suit your financial resources. Second, you can access a portfolio of properties with diverse income streams, rather than relying on a single property/asset. Third, REIT investors tend to have better access to liquidity, because trading shares in a REIT on the public markets is generally easier, cheaper and faster than selling a physical real estate asset. Finally, investing in a REIT is simple; owning shares in a REIT is straight-forward and pays a dividend.

Investing in ENBD REIT

  • How can I invest in ENBD REIT?

    ENBD REIT is listed on Nasdaq Dubai, under ticker symbol ENBDREIT. For more information, contact Investor Relations, Emirates NBD Securities, or your preferred broker.

  • Which currency does ENBD REIT trade in?

    ENBD REIT shares are listed in USD. Please contact your broker for further details regarding foreign currencies.

  • What are the principal objectives of ENBD REIT?

    ENBD REIT aims to invest in Shari'a compliant and income generating real estate with a primary focus on the UAE. The principal investment objective of the REIT is to provide investors with a regular source of income (by way of annual dividends of at least 80% of its net audited annual income) and capital appreciation.

  • What is the asset allocation of ENBD REIT?

    As at 31st December 2019, and based on the market valuations of the properties as carried out by third party independent valuers, 64% of ENBD REIT's portfolio was comprised of offices while 17% of the portfolio was comprised of residential property and 19% of alternative assets

  • What is the value of ENBD REIT's existing portfolio?

    The existing office and residential real estate portfolio is valued at USD 429m as at 31st December 2019.

  • Do you have plans to diversify ENBD REIT’s portfolio into other types of real estate?

    Yes. ENBD REIT is targeting an asset allocation of: 64% office units; 17% residential units; and 19% alternative real estate sectors (including industrial, education, healthcare and hospitality). Exact sector allocation may not always be maintained given the value and availability of real estate assets, however the allocation above provides guidance on ENBD REIT’s target asset allocation given current market conditions. The asset allocation is also expected to change from time to time, depending on market and other conditions, at the Fund Manager’s discretion.

  • Where is ENBD REIT domiciled?

    ENBD REIT is a closed-ended investment company with limited liability registered in the Dubai International Financial Centre (DIFC) with registration number 2209 and managed by Emirates NBD Asset Management Limited, which is also domiciled in the DIFC and is regulated by the Dubai Financial Services Authority (DFSA).

  • Is there a minimum or maximum number of ENBD REIT shares I can buy?

    The minimum number of shares that an investor may hold in ENBD REIT is one share. While there is no maximum number of shares that an investor may hold, once an investor holds over 5% of ENBD REIT’s share capital, certain legal obligations will be applicable.

  • Is ENBD REIT subject to foreign ownership restrictions?

    There are no foreign ownership restrictions for holding equity in ENBD REIT.

  • When will ENBD REIT pay dividends?

    ENBD REIT intends to pay dividends on a semi-annual basis, as at 31st March and 30th September

  • When does ENBD REIT publish annual accounts?

    ENBD REIT’s financial calendar ends on 31st March, so the audited annual accounts will be published after that date.

  • What is the valuation process that you follow for your properties?

    ENBD REIT has appointed CBRE and Cavendish Maxwell as independent valuers for its portfolio. The regulatory requirement is to value semi-annually, but management are of the opinion that quarterly valuations are preferable, therefore the Net Asset Value of the portfolio, including the NAV per share, will be published every quarter end, in June, September, December and March. As the portfolio grows, the REIT may appoint additional valuation companies according to a rotation policy, in line with global best practice.

The Fund Manager

  • Who has been appointed as the Fund Manager of ENBD REIT?

    Emirates NBD Asset Management Limited has been appointed as the Fund Manager of ENBD REIT. Emirates NBD Asset Management is established in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority as a Category II Firm and is the wholly owned asset management business of Emirates NBD Bank, one of the largest banks by assets in the MENA region. Emirates NBD Asset Management provides a full range of investment solutions, from in-house managed public funds to tailor-made discretionary solutions. It manages funds across asset classes, including MENA equity and global fixed income funds, global risk profiled funds, UAE real estate, and a complete range of Shari'a compliant instruments, structured to cater for diverse risk appetites.

    Each of the Emirates NBD Asset Management managed funds are domiciled in either Jersey (regulated by the Jersey Financial Services Commission), Luxembourg (regulated by the Luxembourg Commission de Surveillance du Secteur Financier) or the DIFC (regulated by the DFSA). For further details, please click here

  • What other funds does Emirates NBD Asset Management currently offer to investors?

    In addition to managing ENBD REIT, the Fund Manager manages 21 other funds including funds in Jersey (as regulated by the Jersey Financial Services Commission) and Luxembourg (as regulated by the Commission de Surveillance du Secteur Financier). The Jersey-domiciled funds consist of two umbrella funds each divided into six sub-funds.

    The Fund Manager manages these additional funds in its capacity as delegate investment manager and its services cover a range of asset classes including MENA Equities, fixed income, real estate and global funds, structured on either a Shari’a compliant or a conventional basis. The Fund Manager also provides asset management and advisory services across different asset classes and geographies.

  • How do we know that transactions are and will be done at fair value between Emirates NBD and ENBD REIT?

    All transactions are approved by ENBD REIT’s Investment Committee, the members of which are 100% independent of Emirates NBD. Therefore, any transactions concluded between Emirates NBD and ENBD REIT will be considered entirely on the merits of the particular transaction and at arm’s length. Furthermore, as part of the due diligence process for transactions, an independent third party valuation is required to confirm the price is at market value. DFSA regulations require shareholders’ approval if the related party transaction is more than 5% of the REIT.

    Additionally, any transaction agreed between ENBD REIT and Emirates NBD would be deemed a related party transaction under the DFSA regulations, therefore would also require approval from the Oversight Committee which comprises three independent members.

  • What is Emirates NBD Asset Management Limited’s current AuM?

    The Fund Manager's current AUM as at 31st December 2019 is approximately USD 4.5bn.

 

 

 

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