{"id":49014,"date":"2017-03-22T00:41:28","date_gmt":"2017-03-21T17:41:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=49014"},"modified":"2017-03-21T23:08:04","modified_gmt":"2017-03-21T16:08:04","slug":"emirates-nbd-unit-says-reit-listing-is-oversubscribed","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-unit-says-reit-listing-is-oversubscribed\/","title":{"rendered":"Emirates NBD unit says reit listing is oversubscribed"},"content":{"rendered":"


\nShares in the UAE’s second real estate investment trust will be listed on Nasdaq Dubai this week at an offer price of US$1.11. Emirates NBD Asset Management, the company behind the planned listing, said that the offer had been oversubscribed, receiving a “better-than-expected response from regional investors”. The company said that the listing price represented a 7.5 per cent discount to net asset value. Emirates NBD Reit is expected to be listed on Nasdaq Dubai on Thursday. Based on the offer price, the company’s market cap is expected to be about US$282.4 million. The company said it would issue 94,594,595 new shares to institutional investors at the offer price, which represents about 37.2 per cent of ENBD Reit’s issued share capital.”Our primary investment objective is to generate attractive income returns and capital appreciation from real estate assets,” said Anthony Taylor, Emirates NBD Asset Management’s real estate fund manager. “We are targeting opportunities that offer net yields in line with, or greater than, previously achieved returns. We manage our assets with a focus on enhancing their value and we have a pipeline of attractive acquisition opportunities that will further diversify our portfolio and allow us to benefit from economies of scale.” Earlier this month, the bank-owned asset manager announced that its 872,518 square feet income-producing portfolio will be transferred to the new ENBD Reit from a Jersey-based open-ended real estate fund that was originally established in 2005.The asset manager said that the portfolio includes the 28-storey Al Thuraya Tower in Dubai Media City, the 10-storey Binghatti Terraces housing complex in Dubai Silicon Oasis and the 13-storey Arabian Orxy House complex in Barsha Heights, which together make up nearly two-thirds of the fund’s rental income. The portfolio also comprises the mixed-use Burj Daman tower in DIFC, two commercial buildings in Dubai Healthcare City and two residential towers in the Remraam housing district in Dubailand leased as staff housing to the Media Rotana hotel. Reits are common in other parts of the world, where they are often sold to investors as a way of putting money into the property market without the difficulties of direct investment. Reits buy properties such as large office buildings and shopping centres, manage them and distribute the rental yield to investors.In 2014, the UAE’s first Reit, Emirates Reit, was floated on Nasdaq Dubai by fund manager Equitativa.In February, Equitativa announced plans to create the country’s first residential real estate fund. The company is also looking to establish Reits specialising in hotels, logistics and sporting assets.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emirates NBD unit says reit listing is oversubscribed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in the UAE’s second real estate investment trust will be listed on Nasdaq Dubai...<\/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-49014","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-cKy","jetpack-related-posts":[{"id":49002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-reit-listing-oversubscribed-says-bank\/","url_meta":{"origin":49014,"position":0},"title":"Emirates NBD Reit listing 'oversubscribed', says bank","date":"March 22, 2017","format":false,"excerpt":"\r Shares in the UAE's second real estate investment trust will be listed on Nasdaq Dubai this week at an offer price of US$1.11. Emirates NBD Asset Management, the company behind the planned listing, said that the offer had been oversubscribed, receiving a \"better-than-expected response from regional investors\". The company\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":49014,"position":1},"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":49821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-real-estate-investment-trusts-expected-in-uae\/","url_meta":{"origin":49014,"position":2},"title":"More real estate investment trusts expected in UAE","date":"March 27, 2017","format":false,"excerpt":"\r The asset manager behind the UAE's second listed real estate investment trust expects more to follow.Emirates NBD Asset Management listed ENBD Reit on Nasdaq Dubai last week.\"There is room in the UAE for ten or twenty reits,\" said Anthony Taylor, fund manager of real estate for Emirates NBD Asset\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/enbd-reit-buys-dubais-first-purpose-built-student-block\/","url_meta":{"origin":49014,"position":3},"title":"ENBD Reit buys Dubai's first purpose-built student block","date":"May 31, 2017","format":false,"excerpt":"\r A real estate investment trust (Reit) has bought the UAE's first purpose-built student accommodation (PBSA) block in a deal worth Dh120 million. ENBD Reit, which was launched by Emirates NBD and listed on Nasdaq Dubai in March, said it had acquired the Uninest block in Dubai Academic City under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51721,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-financial-group-plans-flotation-of-dh3-billion-reit-this-year\/","url_meta":{"origin":49014,"position":4},"title":"Abu Dhabi Financial Group plans flotation of Dh3 billion Reit this year","date":"April 13, 2017","format":false,"excerpt":"\r Abu Dhabi Financial Group (ADFG), an alternative investment company with US$5 billion in assets, plans to float a real estate investment trust by the end of the year.In a statement the company said that it had set up its own it comprising 10 properties.ADFG, which made headlines over the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52003,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reits-offer-efficient-way-to-own-uae-properties-without-the-hassle\/","url_meta":{"origin":49014,"position":5},"title":"Reits offer efficient way to own UAE properties without the hassle","date":"April 16, 2017","format":false,"excerpt":"\r Real estate and construction are regarded as global drivers of economic growth and critical sources of employment. In western Europe, where slower economic growth and political uncertainty have squeezed transaction volumes and prices, over-weighted ownership of real estate assets is increasingly seen as a risk.Even in the United States,\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\/49014"}],"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=49014"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/49014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=49014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=49014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=49014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}