Dubai, United Arab Emirates, 29th November 2017: ENBD REIT (CEIC) Limited ("ENBD REIT"), the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the "Fund Manager"), has announced its condensed consolidated interim financial Information for the six-month period ended 30th September 2017, prepared in accordance with International Financial Reporting Standards ("IFRS") and reviewed by KPMG. ENBD REIT is listed on Nasdaq Dubai under ticker symbol 'ENBDREIT'.
On 23rd March 2017, ENBD REIT successfully listed on Nasdaq Dubai, raising USD 105 million. The proceeds of the listing have since been fully deployed by investment in three real estate assets, bringing ENBD REIT’s total holdings to 10 properties across Dubai. As at 30th September 2017, ENBD REIT’s Net Asset Value (NAV) was USD 295 million or USD 1.16 per share. The total value of ENBD REIT’s property portfolio at the end of the quarter was USD 353 million, rising to USD 434 million upon the acquisition of The Edge on 5th October 2017.
ENBD REIT's total liabilities stood at USD 125 million with a Loan-to-Value (LTV) ratio of 28% as at 30th September 2017, with the LTV rising to 32% as at 5th October 2017. The total dividend for the six-month period ended 30th June 2017 was 6.6% annualized equivalent, based on the ex-dividend NAV per share, which translated into an annualized equivalent of 7.1% based on the share price. The next dividend is expected to be distributed to all shareholders as at 31st December 2017.
The interim financial information and directors’ report will be available to view on the ENBD REIT website at www.enbdreit.com/reit/investor-relations.
