Dubai: Equitativa, the first and largest REIT manager in the GCC, announced today that Emirates REIT received “The Best REIT In The GCC” Award at Arabian Business Awards 2018.
The prestigious Arabian Business Awards, which were announced yesterday in Dubai, recognise and honour outstanding corporate leadership across a range of sectors.
Winning “The Best REIT In The GCC” Award represents a new landmark for Equitativa’s journey of continuous growth. Emirates REIT, which was founded and is independently managed by Equitativa, has gained solid trust from the markets since its public listing in April 2014, and it was the first REIT to be listed in the region. The diversity of its real estate portfolio, combined with a strong capital position, have driven the company’s substantial growth and profitability where dividends are distributed twice a year.
Emirates REIT closed its Sukuk issuance in December 2017 at USD 400 million and received a great response from international institutional investors as the first MENA REIT Sukuk issuance.
The portfolio value at year-end was USD860 million after the acquisition of European Business Center in Q3. This represents a year-over-year increase of 14.2% compared to USD753 million as at end 2016.
Sylvain Vieujot, Chief Executive Officer of Equitativa, said: “Equitativa is extremely delighted and honoured to have received this award and recognition for our flagship fund, Emirates REIT. Being awarded by the Arabian Business Award for ‘Best REIT in the GCC’ demonstrates the trust of global and regional investors in our product, and the innovative and rigorous management of the REIT by Equitativa. We continue to be committed to delivering value to all our stakeholders by further strengthening and diversifying our portfolio”.
The Arabian Business Awards ceremony was attended by over 200 decision makers, global and regional CEOs, and business leaders from across the GCC.
About Equitativa Group:
The Equitativa Group is a leading regional asset manager focused on creating and managing real estate investment trusts (REITs). The group offers innovative risk-adjusted, income generating financial products that cater to institutional and retail investors. As the founder of the UAE’s first Shari’a compliant REIT, Emirates REIT, established in the DIFC, Equitativa is today the largest REIT Manager in the Gulf Cooperation Council (GCC) countries and the biggest REIT Manager for Shari’a Compliant REITs in the world. Equitativa has about USD 2 billion of assets under management in the UAE including Emirates REIT and The Residential REIT, the latter incorporated in Abu Dhabi Global Markets. Equitativa is further diversifying its REITs by launching a hospitality REIT, a logistics REIT, and several other REITs in emerging markets.
About Emirates REIT:
Emirates REIT, (NASDAQ Dubai: REIT; ISIN: AEDFXA1XE5D7), the world’s largest Shari’a compliant Real Estate Investment Trust, is a Dubai-based real estate investment trust established to invest in principally income-producing real estate in line with Shari’a principles. It currently owns freehold or leasehold properties comprising commercial, education and retail assets.
Emirates REIT benefits from an exclusive Rulers’ Decrees permitting it to purchase properties in onshore Dubai and Ras Al Khaimah.