Enbd Reit (Ceic) Plc (United Arab Emirates)

The Fund is a closed-ended investment company that was incorporated by the Fund Manager to invest in a diversified portfolio of Shari'a-compliant real estate assets in the UAE.
The purpose of the Group is to provide investors with a professionally managed means of participating primarily in the United Arab Emirates ( UAE ) real estate market. The primary investment objective of the Group is to achieve regular rental income and some long-term capital growth from a diversified portfolio of residential, commercial and alternative properties. Investment decisions under the supervision of the Directors of the Group will be made on behalf of the Group by the Fund Manager, and will reflect the medium to long-term objective to maximize total return made up of rental income plus some capital appreciation.
The Group shall have the capacity to seek finance in a manner compliant with Islamic Shari a law to aid further property acquisitions from time to time. The Group may invest in properties via offshore special purpose vehicles ( SPVs ). A single SPV may be used to hold each separate property. Any finance sought for property acquisitions may be at the Company level or at the SPVlevel.
All investments of the Group will take place according to Shari a guidelines, as defined by the Shari a Supervisory Board of the Group. The Shari a Supervisory Board will also periodically review that all implemented investment decisions of the Fund Manager remain within Shari a guidelines.
The Company s vision and strategy: the company s principal investment objective is to generate income returns, complimented by capital appreciation from real estate assets. The REIT aims to regularly distribute a dividend with a target of achieving a total return of approximately 5 per annum. In addition, the Fund Manager focuses on enhancing the value of it s assets.
The Company s investment strategy is designed to take advantage of current and projected market conditions within the UAE. The Fund Manager believes that steady economic growth in the UAE will set the stage for continued improvement in the country s real estate market.
The Company s plans to achieve its objectives through the following strategies: Actively managing the existing portfolio, Focusing on freehold or long-term leasehold titles, Aiming to lengthen tenant lease terms and Targeting off-market relationship-driven transactions Targeting off-market, relationship-driven transactions
The fund was incorporated on July 18, 2016 under the Companies Law with the name ‘‘Emirates Real Estate Fund Limited .On 15 February 2017,the name of the Company was changed from EREF Dubai to ENBD REIT (CEIC) Limited.
The Fund was registered in the Dubai International Financial Center (DIFC) under commercial registration number 2209.
The Company was listed on Nasdaq Dubai on March 23, 2017.
The Company changed its legal form ENBD REIT (CEIC) limited to ENBD REIT (CEIC) PLC .