News

REIT manager eyes new acquisitions

Dubai-based Equitativa, which claims to be the largest real estate investment trust (REIT) manager in the GCC, has announced plans to invest up to $54 million in new real estate acquisitions by early 2020. The plans were revealed as Equitativa published its financial results for the first half of 2019. The real estate fund manager saw an increase of 9.1% for net property income compared to the same period in 2018. It also posted a 13.5% boost in earnings before interest. “Our portfolio enjoys a stable occupancy due to our active management and the quality of the assets,” said Sylvain Vieujot, Equitativa chief executive. “We are now in an active acquisition mode and are considering a number of transactions. "We believe that this is an opportune time for acquisition of quality assets. Emirates REIT fund is well positioned to benefit from the attractive pricing of Grade A assets.” ©2019 funds global mena

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