DIFC-LCIA - the arbitration centre for Dubai International Financial Centre, has awarded in favour of Emirates REIT in a rental dispute worth more than $19 million (AED 70 million).
The real estate investment trust announced in June that the school had agreed to make a payment of AED 20 million as the two parties attempted to resolve long-standing dispute.
In a Nasdaq Dubai statement today, Emirates REIT said it was continuing to discuss ways forward with the school.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
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