(Dubai-) - Equitativa, the first and largest REIT manager in the GCC, received dual recognition at the Banker Middle East Awards on Thursday when it was voted as the “Best REIT Manager MENA” 2018, and also received the “Sukuk of the Year MENA” for its “Emirates REIT” five-year sukuk issuance.

Equitativa is the founder and manager of “Emirates REIT”, the largest Shari’a compliant REIT in the world and the first to be listed on Nasdaq Dubai, and “The Residential REIT”, the UAE’s first Shari’a compliant residential REIT and the first REIT to be incorporated in Abu Dhabi.

The prestigious Banker Middle East Industry Awards ceremony was attended by prominent industry leaders and banking and finance experts from the Arab World, including the Gulf Cooperation Countries (GCC), Levant and North Africa, and from around the world.

Commenting on the dual recognition, Sylvain Vieujot, Chief Executive Officer of Equitativa, said: “We are extremely honoured to have our flagship REIT, Emirates REIT, recognised for its successful Sukuk issuance and for Equitativa to be acknowledged as a leader in its sector. It has been a very active year for Equitativa. As the first REIT from the MENA region to access the international Sukuk market and obtain a credit rating, Emirates REIT issuance was 2.5X oversubscribed and over 70% of the demand came from international institutional investors. This investors’ confidence, that comes at a challenging time in the international and regional markets, reflects trust in the independent and unbiased management of our funds, and in the quality of our assets.”

He added: “Today, we are well positioned to continue our expansion and diversification programme, and to strengthen our position as a leading independent REIT manager in emerging markets. We are looking forward to yet another engaging and productive year."

Organised by CPI Financial, the Banker Middle East Industry Awards is the region’s leading financial event where individual and corporate entities are acknowledged for their distinctive performance in the banking and finance industry. This year, the nominations came from across the GCC region and the Levant.

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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, established in the DIFC, Equitativa is today the largest REIT Manager in the Gulf Cooperation Council (GCC) countries and the biggest REIT Manager for Shari’a Compliant REITs in the world. Equitativa has about USD 2 billion of assets under management in the UAE including Emirates REIT and The Residential REIT, the latter incorporated in Abu Dhabi Global Markets. Equitativa is further diversifying its REITs by launching a hospitality REIT, a logistics REIT, and several other REITs in emerging markets.

About Emirates REIT

Emirates REIT, (NASDAQ Dubai: REIT; ISIN: AEDFXA1XE5D7), the world’s largest Shari'a compliant Real Estate Investment Trust, is a Dubai-based real estate investment trust established to invest in principally income-producing real estate in line with Shari'a principles. It currently owns freehold or leasehold properties comprising commercial, education and retail assets.

Emirates REIT benefits from an exclusive Rulers’ Decrees permitting it to purchase properties in onshore Dubai and Ras Al Khaimah.

About The Residential REIT

The Residential REIT is the first Sharia compliant residential REIT UAE. Established and managed by Equitativa. The Residential REIT is incorporated in the Abu Dhabi Global Market. It is a Shari’a compliant Real Estate Investment Trust and distributes at least 80% of its net income to shareholders. The seed portfolio has been contributed by Al Hamra Real Estate Development LLC and National Bonds Corporation PJSC.

The portfolio of a value of AED 418 million comprises 483 villas and apartments in Dubai and Ras Al Khaimah.

Issued by Borouj Consulting on behalf of Equitativa. For more information, please contact: Randa Mazzawi randa@boroujconsulting.com  or Nicola Ellegaard nicola@boroujconsulting.com  at Tel: +9714 3403005, Follow us on Twitter @Borouj.

© Press Release 2018