Dubai, United Arab Emirates – Equitativa (Dubai) Limited (“Equitativa”), manager of Emirates REIT (CEIC) PLC (“Emirates REIT” or the “REIT”), today announced that it has successfully refinanced Emirates REIT’s existing AED 184 million Islamic Financing Facility with Ajman Bank PJSC (“Ajman Bank”), with the new facility offering a more competitive profit rate and favourable terms and conditions over a ten-year tenor.

Following this refinancing, the REIT continues to advance its prudent financial strategy, benefiting from improved financing conditions that underpin the strength of its capital structure and create a more favourable platform for long-term performance.

Thierry Delvaux, CEO of Equitativa, commented: “This refinancing marks another positive step towards strengthening Emirates REIT’s capital structure and reflects the confidence that long-term partners such as Ajman Bank have in our strategy and our portfolio. The refinanced facility will contribute to our efforts to optimise our financing costs, positioning the REIT for continued growth and long-term value creation for our investors.” 

ABOUT EMIRATES REIT:
Emirates REIT, (Nasdaq Dubai: REIT; ISIN: AEDFXA1XE5D7), is a Dubai-based real estate investment trust investing principally in income-producing real estate in line with Shari'a principles. It currently owns a well-balanced portfolio of assets in the commercial, education and retail sector. Emirates REIT benefits from exclusive Ruler's Decrees permitting it to purchase properties in onshore Dubai and Ras Al Khaimah.

ABOUT EQUITATIVA GROUP:
The Equitativa Group is a leading regional asset manager focused on creating and managing real estate investment trusts (REITs). The group offers innovative risk-adjusted, income generating financial products that cater to institutional and retail investors. As the founder of the UAE’s first Shari’a compliant REIT, Emirates REIT, Equitativa is today one of the largest REIT managers in the Gulf Cooperation Council (GCC) countries and one of the biggest REIT managers for Shari’a Compliant REITs in the world.