Dubai Properties finalises agreement with Emirates REIT

Dubai Properties LLC, a subsidiary of Dubai Properties Group, confirmed an agreement with Emirates REIT, the UAE’s first real estate investment trust. Under the agreement, Dubai Properties LLC contributed the revenue generating property “Office Park” to the fund and as a result became a shareholder in Emirates REIT. Emirates REIT was established in 2010 to provide market entry opportunities, liquidity and stable long term returns for investors and now holds over 580 million Dirhams of income generating properties. Office Park is a 374,000 square feet prime commercial and retail property located in Dubai Internet City. The building provides institutional quality space and enjoys strong occupancy levels due to its location within DIC and the close proximity of services and facilities within the free-zone. Major multinational and local corporations are the anchor tenants of the building.

via Dubai Properties finalises agreement with Emirates REIT | Dubai Properties Group | AMEinfo.com.

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