His case was considered a milestone for #MeToo, in which women accused hundreds in entertainment, media, politics and other fields of sexual misconduct
ENBD Reit's latest acquisition of The Edge building in Dubai Internet City also utilised its existing Islamic finance facility. Recent acquisitions by ENBD Reit have focused on diverse asset types.
In May, the Reit acquired Uninest Dubailand, a student accommodation building, from GSA for $33 million. In August, ENBD Reit acquired its first development asset - South View School - in Remraam at a transaction value of $15 million, growing the total portfolio value to $367 million.
ENBD Reit's most recent acquisition of The Edge in Dubai Internet City saw a transaction value of $76 million push the total portfolio value up to $447 million.
Anthony Taylor, fund manager, real estate, at Emirates NBD Asset Management, said: "We're pleased to announce the complete deployment of the cash raised as part of the listing in March. Investors in Reits are looking to see efficient utilisation of funds in a portfolio of assets that will consistently generate income. Ours is such a product, and we are looking forward to growing both its footprint and value in the coming months and years."
Following the deployment of the listing proceeds, ENBD Reit now holds 10 assets across Dubai. The portfolio has an overall occupancy of 89 per cent, with a weighted average unexpired lease term of 3.5 years. Offices account for 67 per cent of the portfolio, residential buildings account for 22 per cent and alternative assets (including student accommodation and education) make up the remaining 11 per cent. ENBD Reit's last reported net asset valuation (NAV) was USD $292 million, or $1.15 per share, as at June 30, 2017.
- business@khaleejtimes.com
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