Dubai:
ENBD REIT announced its Net Asset Value NAV for September 30. ENBD REIT’s third NAV since listing now stands at $295 million or $1.16 per share. Following its acquisition of The Edge office building in Dubai Internet City in October 2017, ENBD REIT’s Property Portfolio Value stands at $434 million.
The Edge was acquired at a transaction value of $76.2 million.
“The portfolio has improved significantly with the recent transactions, successfully diversifying our holdings into ‘alternative’ asset classes such as education and student accommodation. We continue to seek high-quality, income generating assets for acquisition to reach our target Loan-to-Value (LTV) range of 40-45 per cent, which would further enhance rental income returns for shareholders,” Anthony Taylor, Fund Manager, Real Estate at Emirates NBD Asset Management, said in a statement.
