Dubai: Emirates Reit, the Shari’a compliant regulated real estate investment trust, announced on Tuesday its intention to list on the Nasdaq Dubai.
New shares in Emirates Reit will be offered as part of the listing “to a number of institutional and professional investors in certain jurisdictions.”
The company stated it intends to raise a minimum of Dh500 million and use the proceeds to find future acquisitions.
Portfolio
Emirates Reit property portfolio consists of 10 Dubai properties over 1.2 million square foot of net leasable area and valued at Dh1,186.9 billion as of December 31, 2013.
Its year-on-year net asset value per share rose to $137.8 as of December 31, 2013, from $114.25 a year earlier.
Emirates Reit was established in the Dubai International Financial Centre in November 2010.
