Logo
  • Order call
  • Call management

Property type
No. of bedrooms
Area
Show offers

Emirates Reit profits up nearly 200%

16.08.2014
Emirates Reit profits up nearly 200%
The Sharia-compliant real estate investment trust has reported a threefold increase in first-half profits as rents and prices grew in Dubai’s long-stagnant office market.
Emirates Reit, Dubai’s first real estate investment trust, has reported a threefold increase in first-half profits as rents and prices grew in Dubai's long-stagnant office market.
The trust said that net profits for the first six months of the year increased to US$34.15 million from $11.6million - a gain of 194% - as rents in Dubai grew.
Just recently, consultancy CBRE reported that average prime office rents in Dubai’s central business district around Downtown Dubai rose 3% in the three months to the end of June and by a total of 25% compared to a year earlier to stand at an average of AED1,884 per square metre per year.
Emirates Reit, which floated on the Nasdaq Dubai in April, said that the value of its portfolio rose by 73% since the end of last year to $559.6m as the Reit purchased a major chunk of Index Tower in DIFC for $167m and the $32.1m Le Grande Community Mall in the Dubai Marina.
“We are confident that demand for commercial property in Dubai will continue to grow,” said Sylvain Vieujot, the executive deputy chairman of the Reit manager, a joint venture between Eiffel Management and Dubai Islamic Bank. “There are still significant opportunities within the Dubai market to invest at attractive prices in prime buildings, which offer substantial growth.”
Latest Availability
RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
SOGA1  SOGA2
Call management
SOGA1  SOGA2
Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management