{"id":50073,"date":"2017-03-29T21:07:23","date_gmt":"2017-03-29T14:07:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=50073"},"modified":"2017-03-29T19:45:27","modified_gmt":"2017-03-29T12:45:27","slug":"emirates-reit-property-portfolio-holds-steady-even-as-dubai-values-fall","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-property-portfolio-holds-steady-even-as-dubai-values-fall\/","title":{"rendered":"Emirates Reit property portfolio holds steady even as Dubai values fall"},"content":{"rendered":"


\nThe 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 a month earlier and had increased 1.5 per cent since the end of October when it was valued at $742m.Emirates Reit said that the value of its portfolio of eight commercial buildings and schools in Dubai is updated at least every six months by independent valuers Asteco and CBRE.The reit said that the net asset value of the fund stood at $484m at the end of February, down from $493m at the end of January, but that was before the company paid out an interim dividend of 4 US cents per share.Last month Emirates Reit reported a 22 per cent fall in profit for 2016 to $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 its property portfolio to $50.7m versus $41.5m in 2015, with rental income up by 23 per cent to $45.3m.According to Cluttons, rents fell in 15 out of the 23 Dubai office submarkets during the second half of 2016 and only increased in the DIFC and Dubai Design District.However, the property slump appears to be doing little to deter new reits from entering the market.Last month Emirates Reit’s fund manager Equitativa said it was gearing up to launch the UAE’s first residential reit and had plans to set up more reits based around hotels, logistics and sporting assets.And last week Emirates NBD Asset Management floated the UAE’s second listed reit on Nasdaq Dubai, saying that it expected many more to follow suit across the region.ENBD Reit said it also expected to face increasing competition from new reits based in Saudi Arabia, which are allowed to invest up to 25 per cent of their total asset value outside the kingdom.On Wednesday, Jadwa Investment Company announced plans to list a third Saudi reit.Jadwa Reit Alharamain Fund said it expected to raise 660 million Saudi riyals (Dh646.3m) from retail investors before listing its units on the Saudi Arabian Stock Exchange by mid-April.It is the first reit approved by the Saudi authorities that will invest in Mecca and Medina, where real estate investment is highly regulated and heavily restricted.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emirates Reit property portfolio holds steady even as Dubai values fall<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The value of the Emirates Reit property portfolio remained at US$753 million at the end...<\/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-50073","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-d1D","jetpack-related-posts":[{"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":50073,"position":0},"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":50073,"position":1},"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":23057,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-profit-falls-63-per-cent-on-low-investment-valuations\/","url_meta":{"origin":50073,"position":2},"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":49002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-reit-listing-oversubscribed-says-bank\/","url_meta":{"origin":50073,"position":3},"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":49014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-nbd-unit-says-reit-listing-is-oversubscribed\/","url_meta":{"origin":50073,"position":4},"title":"Emirates NBD unit says reit listing is oversubscribed","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":11428,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-quarter-profit-rises-at-emirates-reit\/","url_meta":{"origin":50073,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/50073"}],"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=50073"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/50073\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=50073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=50073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=50073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}