E-Paper
Sign In
Emirates Reit reports robust H1 2025 performance with strong financials
Total property income rose by 24% year-on-year on a like-for-like basis
- PUBLISHED: Wed 27 Aug 2025, 7:46 PM
Emirates Reit (CEIC), managed by Equitativa (Dubai) Limited, has announced a strong set of financial results for the first half of 2025, underscoring the success of its strategic initiatives and asset management capabilities.
The Reit closed H1 2025 with a significantly strengthened balance sheet, reducing its Loan-to-Value (LTV) ratio to 20 per cent—a 50 per cent improvement from the 40 per cent recorded in H1 2024. This deleveraging, driven by strategic asset sales and the refinancing of Sukuk II, contributed to a 57 per cent drop in finance costs, which fell to $12 million from $27 million a year earlier.
Recommended For You
Total property income rose by 24 per cent year-on-year on a like-for-like basis, reaching $39 million, supported by a record-high occupancy rate of 95 per cent and a 14 per cent increase in rental rates. Net property income stood at $34 million, reflecting the strength of the portfolio and operational efficiency.
The Reit also reported a dramatic turnaround in Funds from Operations (FFO), which climbed to $7 million from a negative $1.5 million in H1 2024. Revaluation gains of $177 million boosted total assets to $1.2 billion, up from $1.1 billion despite the sale of two properties during FY2024.
Net Asset Value (NAV) surged by 57 per cent year-on-year to a historic high of $886 million, or $2.78 per share, compared to $563 million ($1.76 per share) in the same period last year. A dividend of $7 million was declared and paid during the first half of 2025, reinforcing the Reit’s commitment to delivering consistent returns to shareholders.
Thierry Delvaux, CEO of Equitativa Dubai, said: “We are pleased to report a successful half-year performance, which demonstrates that our strategy is delivering tangible results for shareholders. These results are underpinned by Equitativa’s careful selection of high-quality assets at acquisition, ensuring that our portfolio comprises some of the UAE’s most sought-after commercial real estate. This positions us strongly to continue delivering sustainable growth and consistent returns for our stakeholders.”
With a solid financial foundation and strong cash flow generation, Emirates Reit remains well-positioned to execute its progressive dividend strategy and enhance long-term shareholder value.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.