ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced an update regarding the potential strategic disposal of a real estate asset accounting for more than 5% of its Net Asset Value (“NAV”) as disclosed in the announcement dated 30th May 2021 (and subsequent announcements dated 30th June 2021 and 2nd September 2021).
While ENBD REIT agreed to extend the transaction date to 31st October 2021, the counterparty was unable to conclude the transaction within this time and further negotiations have ended.
ENBD REIT will continue to assess disposal opportunities to realise value for shareholders and strengthen its financial position.
