Emirates REIT to raise $135mn in Dubai IPO

Company will use proceeds for future acquisitions and investment

NEWS, Business, Dubai, IPO, Real estate

Emirates REIT, the United Arab Emirates’ first real estate investment trust said that it will sell its shares on the Nasdaq Dubai bourse to raise at least $135mn (AED 500mn).

The company will use the proceeds for possible future acquisitions and investment in existing assets, according to Reuters.

The value of the company is not known yet, and the IPO will be conducted through a book building process. Current stakeholders will not sell their shares in the IPO, as new shares will be issued for the offer.

Emirates REIT, which was formed in 2010 and complies with Islamic investment principles, has income-generating assets worth $210mn (AED 770mn). It appointed Shuaa Capital and Emirates NBD joint bookrunners for the IPO.

Most popular


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020