GCC’s largest REIT manager considers up to $54 mln in real estate deals by 2020

The company made the announcement following the publication its H1 2019 financials. (File photo: AP)

Equitativa, the largest REIT manager in the GCC and manager of Emirates REIT, said Wednesday that the organization is looking at investing up to 200 million dirhams ($54.46 million) in new real estate acquisitions for Emirates REIT by early 2020.

The company made the announcement following the publication its H1 2019 financials which showed that Emirates REIT witnessed a year-on-year 9.1 percent increase in its net property income for H1 2019.

“Our portfolio enjoys a stable occupancy due to our active management and the quality of the assets. We are now in an active acquisition mode and are considering a number of transactions that will boost Funds from Operations (FFO), which remained stable for the period,” said Sylvain Vieujot, CEO of Equitativa Dubai.

“We believe that this is an opportune time for acquisition of quality assets. Emirates REIT fund is well positioned to benefit from the attractive pricing of Grade A assets,” added Vieujot.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 10:00 - GMT 07:00
Top