Emirates Reit

What Emirates Reit does

Emirates REIT (CEIC) PLC is a Dubai International Financial Centre (DIFC)-incorporated, DFSA-licensed, Sharia-compliant closed-ended Real Estate Investment Trust and the first REIT established in the Middle East (founded 2010). It is publicly listed on Nasdaq Dubai under the ticker REIT (ISIN AEDFXA1XE5D7, Bloomberg REIT.DU) and is operationally managed by Equitativa (Dubai) Limited, a subsidiary of the Equitativa Group. The REIT invests in a concentrated portfolio of seven income-generating commercial and education properties in Dubai — five commercial assets (Index Tower, Loft Offices, Building 24, European Business Centre, Index Mall) and three education facilities (Lycée Français Jean Mermoz, GEMS World Academy, Durham School Dubai) — totaling approximately 166,320 sq.m. of net leasable area and a portfolio value of USD 1,235.1 million, with approximately USD 1.1 billion in assets under management.

The business model is a classic REIT income-and-yield model: long-term leases with commercial tenants and education operators (including GEMS Education, the world's largest K-12 school operator) generate recurring rental income, from which property operating expenses are deducted to produce net property income that is distributed to shareholders as dividends. Capital is raised and refinanced through Sharia-compliant instruments — most notably a USD 400 million 5-year Sukuk issued in December 2017 at a 5.125% profit rate, an earlier USD 175 million IPO in April 2014 at USD 1.36 per share, an Ajman Bank AED 184 million facility (refinanced November 2025), and a more recent USD 205 million funding event in December 2024. Distribution is global via Nasdaq Dubai authorized brokers, supplemented by a proprietary retail trading widget on Google Play. FY2025 results showed net property income of USD 52 million (up 22% YoY) at 96% occupancy, record net asset value of USD 886 million, and USD 171 million in revaluation gains, alongside active portfolio rationalization through the divestitures of Trident Mall (July 2024), Office Park Building (October 2024), and Indigo 7 Building (June 2026).

Name

Emirates Reit

Legal name

Emirates REIT (CEIC) PLC

Website

https://reit.ae

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Emirates REIT is a Dubai-based, DFSA-licensed, Sharia-compliant Real Estate Investment Trust listed on Nasdaq Dubai. It invests in a concentrated portfolio of seven commercial and education properties in Dubai, generating rental income distributed to shareholders as dividends.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust

NAICS

Other Financial Vehicles (525990)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Real estate investment trust
• Sharia-compliant investment
• Commercial property leasing
• Education facility leasing
• Rental income distribution

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Rental Income from Properties: Emirates REIT generates revenue through long-term leases on commercial and education properties. The REIT collects rent from tenants in office, retail, and educational facilities, distributing profits (rents less expenses) to shareholders as dividends.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Emirates REIT is a Sharia-compliant closed-ended Real Estate Investment Trust incorporated in the Dubai International Financial Centre (DIFC) and licensed by the Dubai Financial Services Authority (DFSA). It invests in a diversified portfolio of income-generating commercial and education properties across prime Dubai locations and distributes the resulting rental income to shareholders as periodic dividends in line with Islamic finance principles. Property-level occupancy stood at 96% as of the FY2025 reporting cycle, with net property income of approximately US$52 million.

Product overview

Emirates REIT is a single, unified product structure — a closed-ended Sharia-compliant Real Estate Investment Trust managed by Equitativa (Dubai) Limited. The REIT offers investors exposure to a diversified portfolio of seven income-producing properties: five commercial assets (Index Tower, Loft Offices, Building 24, European Business Centre, and Index Mall) and three education assets (Lycée Français Jean Mermoz, GEMS World Academy, and Durham School Dubai). The portfolio spans approximately 166,320 sq.m. of net leasable area with a total value of USD 1,235.1 million. The REIT also provides a mobile trading widget application for investors to track share prices on Nasdaq Dubai. The investment objective is to create stable dividend distributions through long-term rental growth and capital appreciation.

Differentiator

Problem solved

Functional benefit

Products and services

• Emirates REIT — Sharia-compliant REIT (REIT:DU) Closed-ended Sharia-compliant Real Estate Investment Trust, incorporated in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA). The REIT unit/share is the primary buyable product, providing investors liquid, exchange-listed exposure to a diversified Dubai real estate portfolio and periodic dividend distributions.
• Index Tower (Office, DIFC) Grade-A commercial office tower in the Dubai International Financial Centre (DIFC), serving as a flagship Emirates REIT asset and a long-term leased workspace for multinational tenants. Target customers are commercial office tenants in DIFC seeking premium, professionally managed workspace.
• Loft Offices (Office, Dubai Media City) Commercial office property located in Dubai Media City, leased to corporate tenants under long-term triple-net lease structures with annual rent escalation clauses. Targets commercial tenants in Dubai's media and creative industries.
• Building 24 (Office, Dubai Internet City) Office property in Dubai Internet City, leased to technology and telecommunications sector tenants under long-term triple-net lease agreements. Targets commercial tenants operating within Dubai Internet City's technology free zone.
• European Business Centre (Office and Retail, Dubai Investments Park) Mixed-use commercial property in Dubai Investments Park combining office and retail components, leased under long-term triple-net leases. Targets commercial office tenants and retail occupiers serving the Dubai Investments Park catchment.
• Index Mall (Retail, DIFC) Retail destination adjoining Index Tower in DIFC, leased to retail occupiers and F&B operators serving the DIFC business and visitor catchment. Targets retail tenants operating in DIFC's premium business district.
• Lycée Français Jean Mermoz (Education, Dubai) Purpose-built K-12 French curriculum school facility in Dubai Investments Park, leased to the Lycée Français Jean Mermoz operator under a long-term triple-net lease. Target customers are international K-12 education operators running French Baccalauréat programmes in Dubai.
• GEMS World Academy (Education, Dubai) Purpose-built education facility leased to GEMS World Academy in Dubai under a long-term triple-net lease, providing a campus for the operator's K-12 international curriculum. Targets international K-12 education operators running IB and equivalent curricula.
• Durham School Dubai (Education, Dubai) Purpose-built education facility leased to Durham School Dubai under a long-term triple-net lease, providing a campus for the operator's K-12 British curriculum delivery. Targets international K-12 education operators running British-curriculum programmes.
• Emirates REIT Trading Widget (Mobile App) Mobile trading widget for Android, published on Google Play, that allows Emirates REIT shareholders to track the live REIT:DU share price and view basic share performance on mobile devices. Targets individual shareholders of Emirates REIT who want self-service access to share price information.

Quantifiable outcome

• Record funds from operations in FY2025
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Foster & PartnersminorStrategic or Co-development PartnerAward-winning architects who designed Index Tower. The 80-storey building won 'Best Tall Building Middle East & Africa' by the Council on Tall Buildings and Urban Habitat in 2011.

Scale indicators11 records

Recent moves10 records

Expansion highlights5 records

Regional players

• Mazaya Real Estate Development: Sharia-compliant GCC real estate developer and investor with a UAE presence; comparable to Emirates REIT in its Islamic-finance-aligned investment thesis and Dubai/MENA commercial property focus.
• RAK Properties: Ras Al Khaimah-listed real estate investment and development company; comparable as a UAE-listed property investment company with mixed residential and commercial holdings serving regional real estate investors.
• Union Properties: Dubai-listed real estate developer and investor with mixed-use property holdings; comparable in its Dubai-centric listed REIT-like structure with recurring property income, though more diversified across development and asset management.
• Deyaar Development: Dubai-based listed real estate company with a hospitality, commercial, and residential property portfolio; comparable in its Dubai focus and publicly listed share structure targeting UAE/MENA investors seeking real estate exposure.

Direct peers

• Salhia Real Estate Company: Kuwait-listed real estate investment company holding commercial, retail, and hotel properties in Kuwait City; a direct listed GCC REIT peer offering yield-oriented commercial real estate exposure.
• Mabanee Company: Kuwait-listed real estate company operating The Avenues malls and commercial assets across the GCC; a direct REIT-like peer in being a publicly listed Sharia-compliant Gulf real estate investment vehicle with prime-location commercial focus.
• Arzan Financial Group for Investment: Kuwait-listed holding company with material exposure to Sharia-compliant real estate and REIT-style structures in Kuwait and the GCC; comparable to Emirates REIT as a regional peer adopting Islamic-finance real estate investment models.

Broad incumbents

• DAMAC Properties: Dubai-listed developer and asset manager of residential, commercial, and serviced-hotel real estate; comparable in being a publicly traded Dubai real estate investment vehicle serving Sharia-compliant capital, although primarily a developer rather than a pure yield REIT.
• Aldar Properties: Abu Dhabi's largest listed real estate developer and asset manager with a significant recurring-income REIT-like portfolio of residential, commercial, and education properties; comparable to Emirates REIT in serving the UAE investor base with Sharia-compliant real estate exposure, though broader in scope.
• Emaar Properties: UAE's largest developer with major commercial and retail real estate assets including Downtown Dubai; comparable to Emirates REIT through its Dubai commercial property concentration and listed-trading vehicle structure, though it spans development, hospitality, and malls.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/EmiratesREIT1

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Emirates Reit