EQUITATIVA WINS DEAL OF THE YEAR GLOBAL
AWARD FOR EMIRATES REIT SUKUK
(Dubai- 14 March 2018) – Equitativa, a leading emerging markets asset management company and manager of the largest Shariah-compliant real estate investment trust in the world, Emirates REIT, today announced that it has won the prestigious IFN “Best Real Estate Deal of the Year” Award for the issuance of the Emirates REIT’s five-year sukuk.
Emirates REIT closed its landmark sukuk issuance in December last year at US$ 400 million. The transaction was 3X oversubscribed and peaked at US$1.1. billion, with 75% subscriptions from international institutional investors.
According to IFN, the significance of Emirates REIT Sukuk Issuance is two-fold; the deal represents a major milestone as the first MENA REIT Sukuk issuance. It also attracted international institutional investors from Europe, the Gulf Cooperation Council (GCC) countries and Asia.
Sylvain Vieujot, Chief Executive Officer of Equitativa, said: “We are very proud that our flagship trust fund, Emirates REIT, continues to add new milestones to its many successes and remains at the pole position. With this latest transaction, Emirates REIT became the first REIT from the MENA region to access the international Sukuk market and obtain a credit rating. The orderbook peaking at those levels is a testament to the strong interest and trust in our robust profile, prime assets, and unbiased management of our funds. We are delighted to be recognised by our industry peers and experts.”
The Islamic Finance News (IFN) award, which is recognised as the most celebrated and truly global Islamic capital market honour and now in its 12th edition, had a total of 425 unique nominations from across the world.
The award presentation was attended by CEOs and decision-makers from Islamic financial institutions, top business leaders, policymakers, legal experts, economists and thought leaders from key Shariah finance markets around the world.
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About Equitativa Group
Equitativa Group (Equitativa) is a leading regional asset management company that focuses on managing real estate investment trusts (REITs). The holding group offers innovative risk-adjusted, income generating financial products that cater to institutional and retail investors. As the founder of the UAE’s first Shari’a compliant REIT, Emirates REIT, established in the DIFC, Equitativa is today the largest REIT Manager in the Gulf Cooperation Council (GCC) countries and the biggest REIT Manager for Shari’a Compliant REITs in the world. The Group has about US$ 2 billion of assets under management through two of its REITs; Emirates REIT and The Residential REIT, the latter incorporated in Abu Dhabi Global Markets. Equitativa is further diversifying its REITs by launching a hospitality REIT, a logistics REIT, and several other REITs in emerging markets.
About Emirates REIT
Emirates REIT, (NASDAQ Dubai: REIT; ISIN: AEDFXA1XE5D7), the world’s largest Shari’a compliant Real Estate Investment Trust, is a Dubai-based real estate investment trust established to invest in principally income-producing real estate in line with Shari’a principles. It currently owns freehold or leasehold properties comprising commercial, education and retail assets.
Emirates REIT benefits from an exclusive Ruler’s Decree’s permitting it to purchase properties in onshore Dubai and Ras Al Khaimah.