DIFC arbitration centre awards in favour of Emirates REIT in Jebel Ali School rent dispute

The real estate investment trust (REIT) said in June that had agreed on a partial payment of the outstanding $19mln

  
Dubai International Financial Centre (DIFC) welcomes back clients, visitors, retailers, and restauranteurs at the Centre. Image courtesy Dubai Media Office Twitter handle. Image used for illustrative purpose.

Dubai International Financial Centre (DIFC) welcomes back clients, visitors, retailers, and restauranteurs at the Centre. Image courtesy Dubai Media Office Twitter handle. Image used for illustrative purpose.

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)

imogen.lillywhite@refinitiv.com

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