• Sale price represents slight premium to 31 March 2024 market value
• Divestment in line with turnaround strategy for growth and portfolio optimisation
• Proceeds deployed to reduce debt with LTV down to 49.4%

Dubai, United Arab Emirates, 13 August2024:ENBD REIT(CEIC) PLC (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced the successful sale of the Remraam residential assets at a slight premium to market value at 31 March 2024.

The decision to divest this asset is in line with ENBD REIT’s turnaround strategy to optimize its portfolio with a focus on dividend growth viaproactive asset management. The proceeds from this sale will be utilized to reduce debt, resulting in the LTV ratio dropping to 49.4% from 51%.

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