Dubai / Emirates Business
Emirates REIT (CEIC) Limited on Thursday announced its results for the year ended December 31, 2015. Emirates REIT delivered a strong financial and operating performance during 2015, consolidating its position as a leader in the UAE property asset management industry. By year end, the net asset value of the REIT stood at $469.6mn, an increase of 8.7% year-on-year. The investment property increase of 17% was largely driven by the addition of the Jebel Ali School revaluation gains of $53.3mn.