Thursday 24, August 2017 by

Emirates REIT to acquire the European Business Centre in Dubai Investments Park for AED 130 million

Emirates REIT (CEIC) Limited (‘Emirates REIT’ or the ‘REIT’), the world’s largest Shari'ah compliant Real Estate Investment Trust, managed by Equitativa (Dubai) Limited (‘Equitativa Dubai’), today announced that it has signed the acquisition of the European Business Centre (‘EBC’) in Dubai Investments Park (‘DIP’), at a purchase price of AED 130 million ($35.4 million).

Emirates REIT expects the transaction to generate an estimated IRR in excess of 10 per cent.