Dubai skyline
Emirates REIT calls in outside help to advise on a possible restructure as well as what to do with its portfolio. Image Credit: Clint Egbert/Gulf News Archive

Dubai: Emirates REIT has hired Houlihan Lokey Inc. as an adviser to help it review its options.

"Houlihan Lokey has been engaged to advise on the strategic options for the Emirates REIT's portfolio, and on its operational structure," the Dubai-based company said in a statement. (Incidentally, the founder of NMC Health group, Dr. B.R. Shetty, had hired Houlihan Lokey as financial advisor to restructure his holdings.)

Emirates REIT said last month that the Dubai Financial Services Authority is investigating matters connected to its management. The company also said it will start a review of its strategic options, including a potential delisting from Nasdaq Dubai.

In a separate statement on Monday, the company said directors and employees of Equitativa and Emirates REIT will be permitted to purchase shares of Emirates REIT. Equitativa is the manager of Emirates REIT.