IslamicFinance.de

GII Islamic REIT has acquired an AED 117.54 million two-floor office property in Downtown Dubai developed by Emaar Properties. The property is under a lease agreement with a global professional services firm, whose term will end after three years. The property was sold in consideration of $32 million with gross yields of around 8%. According to Mohammed AlHassan, CEO of GII, this is a high-quality acquisition for the REIT, and is consistent with GII REIT’s strategy to distribute 8% annual dividend to investors net of all costs.