IslamicFinance.de

Emirates REIT, one of the UAE’s first regulated Shari'ah compliant Real Estate Investment Trusts listed on Nasdaq Dubai, saw a 13% increase in total portfolio value. The total portfolio value stood at $742 million, a year-over-year increase of $85 million, making it the largest Shari’ah compliant REIT globally. The total property income for the nine months also increased 22% to $36.3 million. The net asset value increased to $1.60 per share, or $480.7 million. CEO Sylvain Vieujot thanked the UAE’s leaders who established a stable financial ecosystem with solid laws and regulations that have allowed the United Arab Emirates to become a world leader in Islamic finance.