ENBD REIT’s posts $246m NAV in Q3-19

ENBD REIT’s posts $246m NAV in Q3-19

The UAE-based Shari'a compliant real estate investment trust, managed by Emirates NBD Asset Management Limited, recorded this value following the dividend payment of $4.9 million to shareholders on 17 December 2019, according to the company's press release on Wednesday.. ENBD REIT called for an extraordinary general meeting (EGM) on 12 February 2020 to seek for shareholders' approval to shift to a private structure with a limited-term investment horizon.. Commenting on the recommendation of the shift, head of Real Estate at Emirates NBD Asset Management, Anthony Taylor, said: "We believe that shifting to a private structure with a limited-term investment horizon is the best strategy to realise value for shareholders and we have now invited our shareholders to vote on the proposed restructuring at the upcoming EGM.".