What ENBD REIT CEIC does

ENBD REIT (CEIC) PLC is a Shari'a compliant, closed-ended Real Estate Investment Trust registered in the Dubai International Financial Centre (DIFC) under registration number 2209. Its ordinary shares trade on Nasdaq Dubai under the ticker ENBD REIT in USD, and the company traces its operating history to the Emirates Real Estate Fund, established in 2005 and re-domiciled and listed in 2017. The REIT invests in income-generating real estate assets primarily in the UAE, spanning office (72%), residential (13%), and alternative (15%) sectors, with a current portfolio of 10 properties valued at USD 430 million as of 31 March 2026 and 95% occupancy.

The REIT is managed by Emirates NBD Asset Management Limited, a wholly owned subsidiary of Emirates NBD Bank PJSC and a DFSA-regulated Category II Firm with approximately USD 6.5 billion in AUM as of December 2023. A dedicated Shari'a Board chaired by Dr. Mohamed Ali Elgari oversees Islamic compliance. ENBD REIT's distribution policy requires it to pay out at least 80% of audited annual net income as dividends, with semi-annual distributions on 31 March and 30 September, targeting a total return of approximately 5% per annum. The principal customer segment is income-seeking investors — both retail and institutional — who want diversified UAE real estate exposure, regular dividend income, liquidity through public market trading, and Shari'a compliance without taking on direct property ownership. As at 31 March 2026, NAV was USD 255 million (cum-dividend), NAV per share was USD 1.02, and loan-to-value stood at 42% on GAV with a WAULT of 3.00 years.

Name

ENBD REIT CEIC

Legal name

ENBD REIT (CEIC) PLC

Website

https://enbdreit.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

ENBD REIT is a Shari'a compliant, closed-ended UAE real estate investment trust listed on Nasdaq Dubai, managing 10 income-generating office, residential, and alternative properties in Dubai for income-seeking investors seeking regular semi-annual dividends.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust

NAICS

Other Financial Vehicles (52599)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Real estate investment trust
• Sharia compliant investing
• Property asset management
• Commercial property leasing
• Dividend income fund

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Rental Income from Investment Properties: ENBD REIT generates regular income from renting investment properties across office, residential, and alternative sectors in the UAE. The REIT distributes at least 80% of its audited annual net income to shareholders as dividends, typically on a semi-annual basis (March and September).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

ENBD REIT is a Shari'a compliant, closed-ended Real Estate Investment Trust listed on Nasdaq Dubai under ticker ENBD REIT, investing primarily in income-generating real estate assets across the UAE. The portfolio spans office, residential, and alternative property sectors, with at least 80% of audited annual net income distributed to shareholders as semi-annual dividends. The Fund Manager, Emirates NBD Asset Management Limited, a wholly owned subsidiary of Emirates NBD Bank PJSC regulated by the DFSA, manages the portfolio on behalf of investors.

Product overview

ENBD REIT is a Shari'a-compliant closed-ended investment company managed by Emirates NBD Asset Management, domiciled in the Dubai International Financial Centre (DIFC). The company operates as a single unified REIT product focused on generating regular dividend income and capital appreciation through a diversified portfolio of income-generating real estate assets in the UAE. The portfolio comprises office, residential, and alternative property sectors, with 10-11 properties as of 2026, including Al Thuraya Tower 1, Arabian Oryx House, Binghatti Terraces, DHCC 25, DHCC 49, The Edge, Burj Daman, Remraam Residential, Uninest student accommodation, Souq Extra Retail Centre, and South View School. The REIT distributes at least 80% of audited annual net income to shareholders semi-annually.

Differentiator

Problem solved

Functional benefit

Products and services

• ENBD REIT (Shari'a compliant Real Estate Investment Trust) Closed-ended Shari'a compliant Real Estate Investment Trust listed on Nasdaq Dubai under ticker ENBD REIT, investing in income-generating UAE real estate across office, residential, and alternative sectors. Targeted at retail and institutional investors seeking regular dividend income (semi-annual) and capital appreciation with no foreign ownership restrictions.
• ENBD REIT Property Portfolio Diversified portfolio of 10 income-generating properties located in Dubai spanning office (72% allocation), residential (13%), and alternative (15%) sectors. Named assets include Al Thuraya Tower 1, Arabian Oryx House, Binghatti Terraces, DHCC 25, DHCC 49, The Edge, Burj Daman, Remraam Residential, Uninest student accommodation, Souq Extra Retail Centre, and South View School, with 95% occupancy and a 3.00-year weighted average unexpired lease term as at 31 March 2026.

Quantifiable outcome

• 95% portfolio occupancy rate
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Emirates NBD Asset ManagementcoreStrategic or Co-development PartnerEmirates NBD Asset Management Limited is the Fund Manager of ENBD REIT. It is a wholly owned subsidiary of Emirates NBD Bank PJSC, based in the DIFC, and regulated by the DFSA as a Category II Firm. It manages approximately USD 6.5 billion in assets as of December 2023 and provides full range of investment solutions including Shari'a compliant instruments.
• CBREminorOthersCBRE has been appointed as one of the independent valuers for ENBD REIT's property portfolio, conducting valuations to determine market values of properties.
• Cavendish MaxwellminorOthersCavendish Maxwell has been appointed as one of the independent valuers for ENBD REIT's property portfolio, conducting valuations to determine market values of properties.
• Nasdaq DubaicoreChannel Partner/ Reseller/ DistributorENBD REIT shares are listed and traded on Nasdaq Dubai under ticker symbol ENBD REIT, providing liquidity and public market access for investors.

Scale indicators8 records

Recent moves2 records

Expansion highlights3 records

Regional players

• RAK Properties: UAE-listed (Ras Al Khaimah) real estate developer and investor with residential, commercial and hospitality holdings; comparable as a UAE-listed property investor, though more development-tilted and based in a different emirate.

Broad incumbents

• DAMAC Properties: Dubai-based, publicly traded property developer and landlord with significant UAE and GCC real estate exposure; overlaps with ENBD REIT on UAE commercial and residential asset ownership, though more development-weighted.
• GFH Financial Group: GCC-listed financial group that invests in and manages real estate and real estate-related funds across the region, including Shari'a compliant structures; comparable as a regional, Islamic-finance-oriented real estate investor and fund manager.
• Aldar Properties: One of the largest Abu Dhabi-listed real estate developers and investors, owning and developing a broad portfolio of UAE residential, commercial and retail assets; comparable as a large UAE real estate investor, though much broader and not Shari'a REIT-structured.
• Emaar Properties: Dubai-headquartered, listed real estate developer and operator with extensive residential, commercial, retail and hospitality assets in the UAE; comparable as a major UAE property income investor, though diversified across development and multiple geographies.
• Mashreq Al-Islami (Islamic Banking arm of Mashreqbank): UAE-headquartered bank offering Islamic finance products including real estate investment and financing; overlaps with ENBD REIT on Shari'a compliant UAE property exposure through its investment and asset management activities.

Emerging players

• Arcapita: Bahrain-based Shari'a compliant investment manager focused on real estate and private equity in the GCC and globally; comparable as a regional Islamic real estate investor with overlapping tenant markets and Shari'a structuring.

Direct peers

• Emirates REIT: Another Dubai-listed, Shari'a compliant real estate investment trust investing in UAE income-generating real estate, overlapping directly with ENBD REIT on geography, structure, asset class and Islamic investor base.
• Masdar Green REIT: UAE-listed, Shari'a compliant REIT focused on sustainable real estate, managed by the same Emirates NBD Asset Management team that runs ENBD REIT; directly comparable in structure, manager, jurisdiction and investor base.
• Deyaar Development: Dubai-listed real estate company owning and managing a portfolio of commercial, residential and hospitality properties in the UAE, directly comparable as an income-oriented UAE landlord with publicly traded shares.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/emirates-nbd

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

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 ENBD REIT CEIC