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Start your banking journey with the leading bank in the region.
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All our cards offer you an exciting range of rewards and benefits.
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Here's how to make the most out of your loan with us.
Visit our dedicated support center for answers to all your banking-related questions.
Our various FX products and services help you conduct your international transactions easily.
Our wide range of transfer options make it easier for you to send money locally and internationally.
Learn all about how you can seamless use our services to transfer money.
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Know more about our Wealth servicesLife is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Access to over 11,000 stocks and ETFs in Global and UAE markets
Visit our dedicated support center for answers to all your banking-related questions.
Everyday banking is a lot easier with our digital banking platforms and services.
Discover more about banking with usWe have over 200 branches and 900 ATMs and CDMs across the UAE and overseas.
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Visit our dedicated support center for answers to all your banking-related questions.
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Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Life is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Everyday banking is a lot easier with our digital banking platforms and services.
Learn more about our services and get the most out of your banking relationship with us.
We welcome you to a bespoke banking experience tailored to suit your private banking & wealth management needs, should you, your family, or your business have USD 5 Million (or currency equivalent) and above as Assets Under Management with us.
Dubai, United Arab Emirates, 21 March 2017: ENBD REIT (CEIC) Limited (“ENBD REIT”), a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has, following strong demand from GCC-based investors, set the price for the intended offer of its ordinary shares (the “Offer”) at US$ 1.11 per ordinary share (“Offer Price”). The Offer was well over-subscribed, receiving a better than expected response from regional investors, leading to a pricing nearer to the midpoint, at approximately a 7.5% discount to net asset value (NAV). ENBD REIT intends to admit its shares to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai (“Admission”) on 23 March 2017.
The Offer
Tariq Bin Hendi, Director of ENBD REIT, said:
“The Offer of ENBD REIT’s shares to trading on Nasdaq Dubai provides investors with the opportunity to invest in a leading real estate investment trust in the UAE with a high quality and diversified portfolio of income-generating assets in strategic locations across Dubai. ENBD REIT has demonstrated a strong track record of performance, consistent dividend distribution and a steady increase in NAV per share.”
Anthony Taylor, Fund Manager, Real Estate, at Emirates NBD Asset Management, said:
“Our primary investment objective is to generate attractive income returns and capital appreciation from real estate assets. We are targeting opportunities that offer net yields in line with, or greater than, previously achieved returns. We manage our assets with a focus on enhancing their value, and we have a pipeline of attractive acquisition opportunities that will further diversify our portfolio and allow us to benefit from economies of scale.”
ENBD REIT’s investment properties were independently valued at approximately US$ 314 million as at 30 September 2016, with total assets at approximately US$ 426.2 million. Adjusted net asset value was approximately US$ 191.8 million as at 31 December 2016. The REIT has consistently made divided contributions since inception point, and paid a 5.8% dividend for the full year 2016.
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