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Middle East's long-term investors eyeing REITs

Despite their newness and "some misunderstanding surrounding them", REITs are rapidly gaining traction in the region, an expert told ConstructionWeekOnline

ENBD REIT recently acquired the South View School in Dubai.
ENBD REIT recently acquired the South View School in Dubai.

Long-term interest is drawing Middle Eastern investors towards real estate investment trusts (REITs), an industry expert told ConstructionWeekOnline.

Anthony Taylor, fund manager for real estate at Emirates NBD Asset Management, said REITs are steadily attracting "income-minded investors" in the region. 

READ: Survey: 43% believe GCC lacks maturity for REITs

"While REITs remain fairly new to this region, and there has been some misunderstanding surrounding them, they are already gaining momentum as a strong option for long-term, income minded investors," Taylor said.

"We have recently seen several new REITs listed in Saudi Arabia, the region’s largest capital market, and our expectation is that several more will come to the market in the kingdom and the UAE in the near future.

READ: ENBD REIT announces first dividend payment

"Our view is that the growth of the REIT landscape is more likely to accelerate in the short- to medium-term."

Emirates NBD Asset Management launched the Emirates Real Estate Fund in 2005. 

READ: ENBD REIT records $292m net asset value

The outfit now acts as fund manager for ENBD REIT, which has a property portfolio valued at $352m (AED1.22bn). 

ENBD REIT's portfolio includes the under-construction $15m (AED55m) South View School in Dubai (pictured). 

READ: Dubai's ENBD REIT acquires $15m South View School

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Nov 23, 2019