23 October 2018

ENBD REIT wins global recognition at Wealth and Finance 2018 Awards

  • ENBD REIT awarded Most Outstanding Real Estate Investment Services in the UAE

Dubai, United Arab Emirates, 23 October 2018: ENBD REIT (CEIC) Limited ("ENBD REIT"), the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has won global recognition for its real estate investment leadership at the annual Wealth and Finance Awards.

The Shari'a compliant real estate investment trust, which is listed on Nasdaq Dubai, was recognised for the Most Outstanding Real Estate Investment Services in the United Arab Emirates for 2018. ENBD REIT offers investors access to Dubai's institutional real estate market, harnessing years of experience to generate consistent income to shareholders.

Anthony Taylor, Head of Real Estate at Emirates NBD Asset Management said:

"Our position as a leading real estate investment services provider is the result of a commitment to four strategic pillars: prudent acquisitions, with a focus on achieving diversification; targeting off-market, relationship-driven transactions; active asset management and value enhancement of our existing portfolio; and global best practice governance ensuring both capital and risk management. In the last 18 months, we have achieved our combined aims of growing and diversifying our real estate holdings, while at the same time delivering income to shareholders. This award is a testament to that achievement."

Investment companies in UAE

Commenting on the award, Julia Ward Osseiran, ENBD REIT’s Investor Relations Officer, said:

"This recognition shows that we are continuing to deliver value to shareholders, despite a challenging real estate market environment and increasingly muted liquidity in local equity markets. We're very pleased to be recognized with this award and look forward to continuing to play an important role in the development and growth of the local REIT sector."

All winners were selected by an independent judging panel. The Wealth and Finance Awards continue to set a benchmark for recognising leaders in finance, with categories including Investment Funds, Project Finance and Alternative Investments.

In July 2018, ENBD REIT announced a NAV of USD 289 million, or USD 1.14 per share, following dividend and return of capital payments made in June 2018. The REIT also recorded improved blended occupancy in the portfolio, increasing to 90%, with gross yield on the portfolio improving to 8.4%. The total property portfolio value stands at USD 463 million (AED 1.7 billion), with diverse holdings covering 11 properties across the office, residential and alternative real estate sectors. ENBD REIT's stock is traded on Nasdaq Dubai under ticker symbol 'ENBDREIT'.

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