{"id":51721,"date":"2017-04-13T00:29:42","date_gmt":"2017-04-12T17:29:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=51721"},"modified":"2017-04-12T22:43:26","modified_gmt":"2017-04-12T15:43:26","slug":"abu-dhabi-financial-group-plans-flotation-of-dh3-billion-reit-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-financial-group-plans-flotation-of-dh3-billion-reit-this-year\/","title":{"rendered":"Abu Dhabi Financial Group plans flotation of Dh3 billion Reit this year"},"content":{"rendered":"


\nAbu 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 past couple of years with high-profile purchases of New Scotland Yard and No 1 Palace Street in London, said that its new Reit, to be known as Etihad Reit, would be worth Dh3bn.The company said it would kick off with owning a portfolio of 10 income-producing properties located in four emirates across the UAE.The Sharia-compliant Reit said that Abu Dhabi-based property developer Eshraq Properties would be one of the founding shareholders and had contributed property to the Reit.ADFG is Eshraq’s second largest shareholder and ADFG chief executive Jassim Alseddiqi last year became Eshraq chairman.ADFG declined to say how many other shareholders had transferred property to the Reit.The company said that the portfolio, which will be managed by an ADFG company, was made up of housing, shops, warehousing and staff accommodation with an overall occupancy level of 90 per cent.ADFG said that it had appointed Dubai-based investment bank Shuaa Capital and National Bank of Abu Dhabi, now known as First Abu Dhabi Bank, as lead financial advisers, global coordinators, and joint bookrunners.”With the UAE real estate sector maturing while maintaining strong investor appetite, we believe that now is the perfect time to enter the market with Etihad Reit,” said Fawad Tariq-Khan, director of investments at ADFG. “We are actively seeking to acquire further assets across a range of sectors to continue to diversify the portfolio.”The news comes less than a month after Emirates NBD Asset Management floated the UAE’s second listed Reit, ENBD Reit, on Nasdaq Dubai, raising $105m.And in February the fund manager behind Emirates Reit, the UAE’s first listed Reit, said it had teamed up with Al Hamra Real Estate Development and National Bonds to create the UAE’s first residential real estate trust, which is expected to float on one of the UAE markets at a later date. The fund manager is also looking to set up Reits based around hotels, logistics and sporting assets.Despite generating attractive yields, many Reits in the GCC have struggled to acquire the sort of big-ticket blocks of apartments and offices in which Reits traditionally invest. Saudi Arabia approved Reit listing rules last year to bolster its housing market.Fund managers say that for large assets worth more than Dh1bn, yields have shrunk to between 5.5 and 6 per cent as trusts compete with sovereign wealth funds, private family groups and Asian pension funds.But with more investment grade stock completing in the UAE and an economic slowdown making it harder for companies to get their hands on cash for expansion, analysts predict that more Reits are likely to list.”Reits are attractive to investors because they offer a better distribution than buying shares in a listed property company,” said Craig Plumb, the head of research at property broker JLL’s Dubai office.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Abu Dhabi Financial Group plans flotation of Dh3 billion Reit this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi Financial Group (ADFG), an alternative investment company with US$5 billion in assets, plans...<\/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-51721","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-dsd","jetpack-related-posts":[{"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":51721,"position":0},"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 News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32433,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/equitativa-to-launch-abu-dhabi-property-funds\/","url_meta":{"origin":51721,"position":1},"title":"Equitativa to launch 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 News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42987,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uaes-first-residential-reit-launched\/","url_meta":{"origin":51721,"position":2},"title":"UAE's first residential Reit launched","date":"February 6, 2017","format":false,"excerpt":"\r The UAE's first residential real estate investment trust (Reit) has been established to tap improving yields after two years of price declines.The company behind Emirates Reit has teamed up with Al Hamra Real Estate Development and National Bonds to create the investment trust that will comprise about 500 homes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57522,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/viceroy-dubai-developer-to-launch-dh2-1-billion-hospitality-reit\/","url_meta":{"origin":51721,"position":3},"title":"Viceroy Dubai developer to launch Dh2.1 billion hospitality Reit","date":"June 12, 2017","format":false,"excerpt":"\r The developer behind two Viceroy hotels in Dubai has said that it is launching a Dh2.1 billion real estate investment trust (Reit).Five Holdings, the company previously known as Skai Holdings, has said that the trust will be the first hospitality-focused Reit to launch in the region, and the biggest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-to-develop-canadian-school-in-dubai-investments-park\/","url_meta":{"origin":51721,"position":4},"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":29661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rak-clears-equitativa-to-invest-onshore-in-emirate\/","url_meta":{"origin":51721,"position":5},"title":"RAK clears Equitativa to invest onshore in emirate","date":"October 12, 2016","format":false,"excerpt":"\r The company behind the UAE's first real estate investment trust (Reit) is finalising plans for a series of new funds after the Government of Ras Al Khaimah allowed it to invest in onshore property in the emirate. According to Equitativa Real Estate, the umbrella company that owns the Reit\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\/51721"}],"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=51721"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=51721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=51721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=51721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}