Arab Today, arab today emirates reit announces net profits for first half
Last Updated : GMT 14:26:27
Arab Today, arab today
Arab Today, arab today

Emirates REIT announces net profits for first half

Arab Today, arab today

Arab Today, arab today Emirates REIT announces net profits for first half

Emirates REIT
Dubai - WAM

Emirates REIT (CEIC) Limited (Emirates REIT or the REIT), the first Shari'a compliant regulated real estate investment trust incorporated in the Dubai International Financial Centre (DIFC), yesterday announces its interim results for the six month period ended 30 June 2014.
Net Profit for the 6 month up +194% to US$ 34.15 million from US$ 11.61 million for the same period in 2013.
Portfolio value increased by +73%, to US$ 559.65 million (Dh 2.06 billion) from US$ 323.13 million (Dh 1.19 billion) at the end of 2013.
Net asset value per share rose to US$ 1.3939. This represents a total return of +6.8% for the first six months of 2014 which equates to an annualised total return of +13.6%.
Reduction in ongoing borrowing rates by 42%, from 5.5% to a current rate of 3.21%.
During the first half of 2014, Emirates REIT's ordinary shares were admitted to the Official List of Securities of the Dubai Financial Services Authority (DFSA) and to trading on NASDAQ Dubai Limited under the ticker symbol 'REIT'. The admission followed a successful international IPO, which was 3.5 times over-subscribed, raising US$ 201 million.
Abdulla Al Hamli, Chairman of the REIT Manager, said:"Since Emirates REIT became a public listed entity in April, I am pleased to report strong progress at both a financial and operational level. In just a few months we delivered what we have promised our shareholders; using the net proceeds to increase the size of the portfolio. The two acquisitions demonstrate that there are still significant opportunities within the Dubai market to invest at attractive prices in prime buildings, which offer substantial growth. We will continue to work on our sizeable acquisition pipeline, located mainly in Dubai and across all commercial sectors."

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates reit announces net profits for first half Arab Today, arab today emirates reit announces net profits for first half

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates reit announces net profits for first half Arab Today, arab today emirates reit announces net profits for first half

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday