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Monday, 31 October 2016

Strong rental income propels Emirates Reit numbers | GulfNews.com

Strong rental income propels Emirates Reit numbers | GulfNews.com:

"Higher rental income from its portfolio is starting to add clout to Emirates Reit’s bottom-line numbers, going by the unaudited financial results for the nine months ending September 30. Total portfolio value came to $742 million, a year-over-year gain of 13 per cent, while property income generated $36.3 million from a 22 per cent increase.
Specific to the third quarter, rental income was higher by 19.7 per cent to $11.4 million (against Q3-15’s $9.5 million). As of September 30, occupancy rate across the Emirates Reit portfolio was a robust 80 per cent.
“Emirates Reit continues to record strong growth in cashflow, which should persist as occupancy increases and the portfolio grows,” said Sylvain Vieujot, Chairman of Equitativa and CEO of Emirates REIT Management, in a statement."



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