Emirates NBD Properties signs agreement with Emirates REIT

22/05/2013 13:31 AST

Emirates NBD Properties, the real estate arm of Emirates NBD, recently concluded a AED 122 million deal for retail space in Index Tower, located in the Dubai International Financial Centre (DIFC). The deal has been formalised through the signing of Sale and Purchase Agreement (SPA) with Emirates REIT, the first GCC Shari’ah-compliant Real Estate Investment Trust.

The signing ceremony was held at the Emirates NBD Properties head office at Dubai Festival City Office Tower, in the presence of Emirates NBD Properties and Emirates REIT Senior Managers including Ali Al Kaitoob - General Manager of Emirates NBD Properties, Abdulla Al Hamli - Chairman of Emirates REIT, Sylvain Vieujot, Executive Deputy Chairman of Emirates REIT.

Emirates REIT provides investors with diversified exposure to high-quality, income-generating properties, was launched in 2010 under the REIT specific DFSA regulations. At present, the REIT has over AED 740 million of assets under its management and continues to expand its portfolio.

Emirates REIT’s portfolio is managed by a strong team with a long standing track record of delivering returns to investors. The shareholders of Emirates REIT include Dubai Islamic Bank, Deyaar, Tecom Investments and Dubai Properties.

Emirates NBD Properties is a wholly owned subsidiary of Emirates NBD Group. The company’s key services include General Maintenance, Real Estate Brokerage, Real Estate Management Services, and Renting of Residential Units on Time-sharing basis. Emirates NBD Properties have selected signature buildings and units across Dubai including:

The Limestone House project is the creation of a vision to construct prominence and to design, offering exceptionally lavish and spacious one, two, three and four bedroom apartments overlooking the elegant street style courtyard or the exceptional view of the DIFC and Sheikh Zayed Road.

The Index Tower is an 80-storey, multi-purpose tower with state of the art offices designed for multi-national corporations as well as luxury. The Tower contains 40 floors of Residential Units located at the upper part of the structure to maximize the view over the whole city of Dubai with views of Burj Khalifa and DIFC.

Uptown MotorCity was designed by the world famous architect Burt Hill and is a freehold totally master planned community with a choice of studio, one, two and three bedroom apartments along with recreation facilities, play areas, retail outlets, schools and sports facilities.

CPI Financial