Business & Money | Friday 13 April, 2018 2:33 am |

Equitativa, the first and largest REIT manager in the GCC, announced today that Emirates REIT received “The Best REIT In The GCC” Award at Arabian Business Awards 2018.

The prestigious Arabian Business Awards, which were announced yesterday in Dubai, recognise and honour outstanding corporate leadership across a range of sectors.

Winning “The Best REIT In The GCC” Award represents a new landmark for Equitativa’s journey of continuous growth. Emirates REIT, which was founded and is independently managed by Equitativa, has gained solid trust from the markets since its public listing in April 2014, and it was the first REIT to be listed in the region. The diversity of its real estate portfolio, combined with a strong capital position, have driven the company’s substantial growth and profitability where dividends are distributed twice a year.

Emirates REIT closed its Sukuk issuance in December 2017 at USD 400 million and received a great response from international institutional investors as the first MENA REIT Sukuk issuance.

The portfolio value at year-end was USD860 million after the acquisition of European Business Center in Q3. This represents a year-over-year increase of 14.2% compared to USD753 million as at end 2016.

Sylvain Vieujot, Chief Executive Officer of Equitativa, said: “Equitativa is extremely delighted and honoured to have received this award and recognition for our flagship fund, Emirates REIT. Being awarded by the Arabian Business Award for ‘Best REIT in the GCC’ demonstrates the trust of global and regional investors in our product, and the innovative and rigorous management of the REIT by Equitativa. We continue to be committed to delivering value to all our stakeholders by further strengthening and diversifying our portfolio”.

The Arabian Business Awards ceremony was attended by over 200 decision makers, global and regional CEOs, and business leaders from across the GCC.