{"id":27608,"date":"2016-09-28T17:04:16","date_gmt":"2016-09-28T10:04:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=27608"},"modified":"2016-09-28T17:02:56","modified_gmt":"2016-09-28T10:02:56","slug":"emirates-reit-to-develop-canadian-school-in-dubai-investments-park-2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-to-develop-canadian-school-in-dubai-investments-park-2\/","title":{"rendered":"Emirates Reit to develop Canadian school in Dubai Investments Park"},"content":{"rendered":"


\nEmirates Reit has secured a lease on a 25,000-square-metre plot in Dubai Investments Park on which it is planning to build a school. The real estate investment trust said that the school would cost about Dh88 million to develop. Its deal will be a sale and leaseback agreement with the British Columbia Canadian School, which will lease the school building from the trust for eight years. Emirates Reit has said that it expects to earn back an initial net income of 12 per cent of its development costs in the first year of the school’s operation. It is planning to develop the school in two phases. When it is complete, the site will contain foundation, primary and secondary schools as well as a sports centre and an auditorium. Its built-up area will be 17,156 sq metres.Emirates Reit said it has now allocated Dh709m, or 25.5 per cent of its entire portfolio, to investments in the education sector. Construction of its second school, the Jebel Ali School in Damac’s Akoya development off Umm Suqeim Road, finished last month. Sylvain Vieujot, the chief executive of Emirates Reit, said: “This is Emirates Reit’s third school transaction and we are delighted to partner with the British Columbia Canadian School. We continue to believe in the strategic importance of the education sector in the UAE and this new school will be a new landmark in a fast-growing area of Dubai.”It expects to be able to bring in students from a number of surrounding communities in a fast-developing part of the city including the Green Community, Jumeirah Golf Estates, International Media Production Zone, Dubai Sports City, Discovery Gardens, Jumeirah Village Circle and Jebel Ali Village. A study unveiled by JLL this month identified the major potential market opportunities for property developers, investors and contractors in the Middle East, stating that 1,000 new schools were needed in five Middle East cities – Abu Dhabi, Dubai, Cairo, Jeddah and Riyadh – within five years, and that 350 of these will be supplied by the private sector.Dubai is expected to need 53 new schools, of which 36 will be from the private sector, while Abu Dhabi needs 44 – half of which will be private schools. “The education sector has sparked the interest of many real estate investors right across the Mena region,” said, Craig Plumb, the head of research for JLL Mena.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emirates Reit to develop Canadian school in Dubai Investments Park<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emirates Reit has secured a lease on a 25,000-square-metre plot in Dubai Investments Park on...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-27608","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7bi","jetpack-related-posts":[{"id":27594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-to-develop-canadian-school-in-dubai-investments-park\/","url_meta":{"origin":27608,"position":0},"title":"Emirates REIT to develop Canadian school in Dubai Investments Park","date":"September 28, 2016","format":false,"excerpt":"\r Emirates Reit has secured a lease on a 25,000 square metre plot in Dubai Investments Park on which it is planning to build a new school.The real estate investment trust said that the school would cost about Dh88 million to develop. Its deal will be a sale and leaseback\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11428,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-quarter-profit-rises-at-emirates-reit\/","url_meta":{"origin":27608,"position":1},"title":"First-quarter profit rises at Emirates Reit","date":"April 26, 2016","format":false,"excerpt":"\r First-quarter profit at the UAE's only quoted real estate investment trust, Emirates Reit, rose by more than half as the company netted rents from newly refurbished floors at Index Tower and its currently under-construction school in Akoya.In a company filing to Nasdaq Dubai, Emirates Reit reported that net profit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5080,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-decides-it-is-time-to-buy-low-as-dubai-market-softens\/","url_meta":{"origin":27608,"position":2},"title":"Emirates Reit decides it is time to buy low as Dubai market softens","date":"February 17, 2016","format":false,"excerpt":"\r \r The UAE's only quoted real estate investment trust, Emirates Reit, has increased its borrowings to capitalise on a softening in the Dubai market this year.The Nasdaq Dubai-listed Emirates Reit said that it had increased its Islamic financing facilities by US$123 million last year in an attempt to buy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":45718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-lower-profit-as-value-of-portfolio-matures\/","url_meta":{"origin":27608,"position":3},"title":"Emirates Reit reports lower profit as value of portfolio matures","date":"February 27, 2017","format":false,"excerpt":"\r Emirates Reit has reported a 22 per cent drop in profit for 2016 to US$47.8m compared with $61.5m a year earlier, mainly because gains in the value of its property portfolio were not as high in 2015.Overall, the company recorded a 22 per cent increase in total income from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54093,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-lower-first-quarter-profit\/","url_meta":{"origin":27608,"position":4},"title":"Emirates Reit reports lower first-quarter profit","date":"May 9, 2017","format":false,"excerpt":"\r Net profit at Emirates Reit, the UAE's first listed real estate investment trust, fell by 36.3 per cent in the first three months of this year compared with a year ago because of a slump in valuation gains.According to a company statement on Nasdaq Dubai, net profit for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32409,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-rise-in-profit-from-higher-occupancy\/","url_meta":{"origin":27608,"position":5},"title":"Emirates Reit reports rise in profit from higher occupancy","date":"October 31, 2016","format":false,"excerpt":"\r Third-quarter net profit at Emirates Reit edged up 4 per cent compared with a year earlier as the UAE's only listed real estate investment trust pushed up occupancy levels despite a slowing Dubai office market.Emirates Reit, which owns and operates a portfolio of nine office and school buildings in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27608"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=27608"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27608\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}