{"id":54093,"date":"2017-05-09T00:37:39","date_gmt":"2017-05-08T17:37:39","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=54093"},"modified":"2017-05-08T22:49:06","modified_gmt":"2017-05-08T15:49:06","slug":"emirates-reit-reports-lower-first-quarter-profit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-lower-first-quarter-profit\/","title":{"rendered":"Emirates Reit reports lower first-quarter profit"},"content":{"rendered":"


\nNet 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 first three months of this year stood at US$9.1 million, down from $14.3m a year earlier.Emirates Reit said that the amount of cash it had made from revaluation gains had fallen by 59.2 per cent to $4.9m in the first quarter of 2017 compared with $12.1m a year earlier. The company said the slump in revaluation gains was the result of its “maturing portfolio that generates more stable cash flows”.
\nNonetheless, net rental income rose by 30.5 per cent to $10.7m compared with $8.2m in the first quarter of 2016.The company said that the increase reflected 20 new office leases being signed at its Index Tower office block in Dubai as well as income from Jebel Ali School and the first rental payments from British Columbia Canadian School.Emirates Reit said that its total portfolio value stood at $763.5m, an increase of 10 per cent compared with the first quarter of 2016 when it stood at $692.2m.
\n“The major improvement we achieved in funds from operations shows that we are on track to achieve our goal of paying out a higher dividend to the owners of the Reit,” said Sylvain Vieujot, the chief executive of Equitativa Dubai, the Reit Manager.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emirates Reit reports lower first-quarter profit<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net profit at Emirates Reit, the UAE’s first listed real estate investment trust, fell by...<\/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-54093","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-e4t","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":54093,"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":45718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-lower-profit-as-value-of-portfolio-matures\/","url_meta":{"origin":54093,"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":11428,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-quarter-profit-rises-at-emirates-reit\/","url_meta":{"origin":54093,"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":23097,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-rising-rent-income-defies-slow-commercial-market\/","url_meta":{"origin":54093,"position":3},"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":32409,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-reports-rise-in-profit-from-higher-occupancy\/","url_meta":{"origin":54093,"position":4},"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":[]},{"id":50073,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emirates-reit-property-portfolio-holds-steady-even-as-dubai-values-fall\/","url_meta":{"origin":54093,"position":5},"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 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