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FINANCIAL NEWS
Emirates REIT rental income grows by 22pct in H1
24 Aug 2017
(MENAFN) Emirates REIT, the UAE’s first listed real estate investment trust proclaimed that its rental income increased 22 percent in the first half, supported by rental payments from schools.
Furthermore, the firm’s unaudited financials” results showed that rental income was USD25.4mn from USD20.9mn a year ago.
Accordingly, this reflects incremental leasing of office units at Index Tower, income from Jebel Ali School and rental payments from British Columbia Canadian School.
However, REIT’s net profit was 23.1 percent lower at USD18.3mn for the first half against the year-ago USD23.8mn.
MENAFN2408201700450000ID1095765300
MENAFN2408201700450000ID1095765300
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