ENBD REIT invests in a wide range of properties, with a primary focus on the UAE, with the aim of providing consistent income generation to shareholders. Prior to listing on Nasdaq Dubai, Emirates Real Estate Fund, the predecessor to ENBD REIT, had since inception in 2005 provided investors with a regular and stable source of income by way of annual dividends (with limited exceptions) and long-term capital appreciation in net asset value per share.
Assets
ENBD REIT's current portfolio consists of eleven properties, located in Dubai in the office, residential and alternative sectors
The portfolio includes the following properties:
Souq Extra Retail Centre
Gross Yield 9.5%
Occupancy rate 100%
% of portfolio value 6%
Type Alternative
Location DUBAI SILICON OASIS
As at 31st December 2022.
The Edge
Gross Yield 8.4%
Occupancy rate 99%
% of portfolio value 19%
Type Office
Location DUBAI INTERNET CITY
As at 31st December 2022.
South View School
Gross Yield 7.3%
Occupancy rate 100%
% of portfolio value 6%
Type Alternative
Location DUBAILAND
As at 31st December 2022.
Uninest
Gross Yield 6.9%
Occupancy rate 100%
% of portfolio value 5%
Type Alternative
Location DUBAILAND
As at 31st December 2022.
Al Thuraya Tower 1
Gross Yield 6.4%
Occupancy rate 51%
% of portfolio value 19%
Type Office
Location DUBAI MEDIA CITY
As at 31st December 2022.
Burj Daman
Gross Yield 7.5%
Occupancy rate 83%
% of portfolio value 17%
Type Office
Location DIFC
As at 31st December 2022.
Arabian Oryx House
Gross Yield 9.9%
Occupancy rate 99%
% of portfolio value 6%
Type Residential
Location BARSHA HEIGHTS
As at 31st December 2022.
Binghatti Terraces
Gross Yield 10.8%
Occupancy rate 98%
% of portfolio value 6%
Type Residential
Location DUBAI SILICON OASIS
As at 31st December 2022.
DHCC 49
G+5 storey office complex located in Dubai Healthcare City free zone.
Gross Yield 8.7%
Occupancy rate 81%
% of portfolio value 7%
Type Office
Location DUBAI HEALTHCARE CITY
As at 31st December 2022.
DHCC 25
G+6 storey commercial tower located in the Dubai Healthcare City free zone.
Gross Yield 9.4%
Occupancy rate 77%
% of portfolio value 5%
Type Office
Location DUBAI HEALTHCARE CITY
As at 31st December 2022.
Remraam Residential
Two residential towers offering 105 units in mainly 1&2 bedroom apartments.
Gross Yield 10.6%
Occupancy rate 98%
% of portfolio value 3%
Type Residential
Location DUBAILAND
As at 31st December 2022.
Vision & Strategy
ENBD REIT's principal investment objective is to generate income returns, complimented by capital appreciation from real estate assets. The REIT aims to regularly distribute a dividend with a target of achieving a total return of approximately 5% per annum. In addition, the Fund Manager focuses on enhancing the value of ENBD REIT's assets.
The REIT's investment strategy is designed to take advantage of current and projected market conditions within the UAE. The Fund Manager believes that steady economic growth in the UAE will set the stage for continued improvement in the country's real estate market.
ENBD REIT plans to achieve its objectives through the following strategies:
- Actively managing the existing portfolio
- Focusing on freehold or long-term leasehold titles
- Aiming to lengthen tenant lease terms
- Targeting off-market, relationship-driven transactions
Performance Highlights
| Date | Property portfolio value |
NAV | NAV per share | Dividend per share |
Dividend % on NAV* |
Dividend % on Share Price |
Share Price |
|---|---|---|---|---|---|---|---|
| 31st Dec 2022 | USD 365m | USD 173m* | USD 0.69* | - | - | - | USD 0.39 |
| 30th Sep 2022 | USD 363m | USD 172m* | USD 0.69* | USD 0.0180 | 2.61% | 4.38% | USD 0.41 |
| 30th Jun 2022 | USD 357m | USD 166m* | USD 0.66* | - | - | - | USD 0.43 |
| 31st Mar 2022 | USD 356m | USD 167m* | USD 0.67* | USD 0.0200 | 2.99% | 4.65% | USD 0.43 |
| 31st Dec 2021 | USD 357m | USD 168m* | USD 0.67* | - | - | - | USD 0.46 |
| 30th Sep 2021 | USD 346m | USD 164m* | USD 0.66* | USD 0.0180 | 2.74% | 4.09% | USD 0.44 |
| 30th Jun 2021 | USD 351m | USD 174m* | USD 0.70* | - | - | - | USD 0.44 |
| 31st Mar 2021 | USD 360m | USD 180m* | USD 0.72* | USD 0.0176 | 2.44% | 4.10% | USD 0.43 |
| 31st Dec 2020 | USD 366m | USD 184m* | USD 0.74* | - | - | - | USD 0.43 |
| 30th Sep 2020 | USD 377m | USD 198m* | USD 0.79* | USD 0.0194 | 2.44% | USD 0.31 | |
| 30th Jun 2020 | USD 393m | USD 215m* | USD 0.86* | - | - | - | USD 0.34 |
| 31st Mar 2020 | USD 410m | USD 230m* | USD 0.92* | USD 0.0204 | 2.22% | 5.73% | USD 0.36 |
| 31st Dec 2019 | USD 429m | USD 246m* | USD 0.98* | - | - | - | USD 0.48 |
| 30th Sep 2019 | USD 435m | USD 254m* | USD 1.02* | USD 0.0196 | 1.93% | 3.64% | USD 0.54 |
| 30th Jun 2019 | USD 437m | USD 255m* | USD 1.02* | - | - | - | USD 0.52 |
| 31st Mar 2019 | USD 450m | USD 270m | USD 1.08 | USD 0.0215** | 2.00% | 3.81% | USD 0.57 |
| 31st Dec 2018 | USD 456m | USD 284m | USD 1.11 | - | - | - | USD 0.64 |
| 30th Sep 2018 | USD 459m | USD 285m | USD 1.12 | USD 0.0270 | 2.41% | 3.60% | USD 0.75 |
| 30th Jun 2018 | USD 463m | USD 289m# | USD 1.14# | - | - | - | USD 0.81 |
| 31st Mar 2018 | USD 463m | USD 300m* | USD 1.18 | USD 0.0129 | 1.09% | 1.30% | USD 0.99 |
| 31st Dec 2017 | USD 460m | USD 300m | USD 1.18 | - | - | - | USD 0.99 |
| 30th Sep 2017 | USD 353m | USD 295m~ | USD 1.16~ | - | - | - | USD 1.00 |
| 30th Jun 2017 | USD 352m | USD 302m* | USD 1.18 | USD 0.0382 | 3.24% | 3.86% | USD 1.08 |
| 31st Mar 2017 | USD 315m | USD 297m | USD 1.17 | - | - | - | USD 1.17 |
* NAV stated cum-dividend
~ Dividend payment made in this period
# Dividend payment and return of capital made in this period (totaling USD 12,007,743 or USD 0.0472 per share)
** ** Final dividend for FYE 31st March 2019, approved by shareholders on 24th June 2019 and subsequently paid on 15th July 2019
Results and Reports
Quarterly Updates
Quarterly Investor Presentations
- 31st December 2022
- 30th September 2022
- 30th June 2022
- 31st March 2022
- 31st December 2022
- 30th September 2021
- 30th June 2021
- 31st March 2021
- 31st December 2020
- 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
Quarterly Investor Calls
8th February 2023
8th December 2022
15th June 2022
24th February 2022
15th June 2021
9th February 2021
8th December 2020
3rd September 2020
31st December 2019
30th September 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
Factsheet
Annual Reports
Financial Statements
Interim Financial Statements
30th September 2022
30th September 2021
30th September 2020
30th September 2019
30th September 2018
30th September 2017
Annual General Meetings (AGM)
- 22nd June 2023
- 21st June 2022
- 29th June 2021
- 01st July 2020
- 26th September 2017
- 27th November 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
*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.
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
Prospectus
Latest Announcements
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