{"id":32409,"date":"2016-10-31T18:42:33","date_gmt":"2016-10-31T11:42:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=32409"},"modified":"2016-10-31T16:50:13","modified_gmt":"2016-10-31T09:50:13","slug":"emirates-reit-reports-rise-in-profit-from-higher-occupancy","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-rise-in-profit-from-higher-occupancy\/","title":{"rendered":"Emirates Reit reports rise in profit from higher occupancy"},"content":{"rendered":"


\nThird-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 Dubai, reported that net profit for the three months to the end of September this year rose to US$11.3 million, up from $10.9m a year earlier.The Nasdaq Dubai-listed company reported a 22 per cent boost in net rental income for the period to US$8.9m as the real estate investment trust rented out further office space at its biggest asset Index Tower in DIFC, pushing up its occupancy levels in the building to 24 per cent.However, the company reported that net profit for the first nine months of the year fell to $35.1m, down 24 per cent compared with the same period a year earlier.The company said that an 18.3 per cent valuation gain on the construction completion of its Jebel Ali School in Damac’s Akoya development helped the reit increase its total assets by 4 per cent to $773.1m at the end of September.Emirates Reit said the increase makes it the largest Sharia-compliant reit in the world – overtaking Singapore’s Sabana Shari’ah Compliant Industrial Real Estate Investment Trust.”Becoming the largest listed Sharia-compliant Reit in the world is an important milestone as it will increase our international exposure and strengthen our growth and liquidity,” said Sylvain Vieujot, the chief executive of Emirates Reit Management, which controls the trust.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emirates Reit reports rise in profit from higher occupancy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Third-quarter net profit at Emirates Reit edged up 4 per cent compared with a year...<\/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-32409","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\/p75ss1-8qJ","jetpack-related-posts":[{"id":23057,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-profit-falls-63-per-cent-on-low-investment-valuations\/","url_meta":{"origin":32409,"position":0},"title":"Emirates Reit profit falls 63 per cent on low investment valuations","date":"August 16, 2016","format":false,"excerpt":"\r Profits at the UAE's only quoted real estate investment trust fell in the second quarter of 2016 as capital values for Dubai offices slowed.Emirates Reit''s profits for the three months to the end of June fell 63 per cent to US$9.4 million, down from the $26m it made during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23097,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-rising-rent-income-defies-slow-commercial-market\/","url_meta":{"origin":32409,"position":1},"title":"Emirates Reit rising rent income defies slow commercial market","date":"August 16, 2016","format":false,"excerpt":"\r Rental income from the \u00adDubai offices, shops and schools owned by Emirates Reit jumped by more than 25 per cent in the second quarter of the year as occupancy levels rose despite a slowing commercial property market.The UAE's only quoted real estate investment trust reported that the income it\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":32409,"position":2},"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":54093,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-lower-first-quarter-profit\/","url_meta":{"origin":32409,"position":3},"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":50073,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-property-portfolio-holds-steady-even-as-dubai-values-fall\/","url_meta":{"origin":32409,"position":4},"title":"Emirates Reit property portfolio holds steady even as Dubai values fall","date":"March 29, 2017","format":false,"excerpt":"\r The value of the Emirates Reit property portfolio remained at US$753 million at the end of February, despite widespread declines in values on the Dubai property market.In a monthly update Emirates Reit, the UAE's first listed real estate investment trust, announced that the portfolio's value remained the same as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32441,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-owner-equitativa-to-build-up-assets-in-abu-dhabi-property-funds\/","url_meta":{"origin":32409,"position":5},"title":"Emirates Reit owner Equitativa to build up assets in Abu Dhabi property funds","date":"October 31, 2016","format":false,"excerpt":"\r The company behind the UAE's first real estate investment trust (Reit) in Dubai is pressing ahead with plans to launch new property funds in Abu Dhabi and looking to expand its model to Saudi Arabia.Equitativa Real Estate, the umbrella company that owns the Reit manager for Nasdaq Dubai-listed Emirates\u2026","rel":"","context":"In "Property 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