Does the IPO for Emirates REIT on Nasdaq Dubai come just as the local real estate market is topping out? « ArabianMoney:
"The Dubai real estate market has been recovering for almost three years, the classic length of a real estate cycle. Does this mean that the $356-408 million initial public offering now in progress for the Emirates REIT (real estate investment trust) is coming at a peak time for local property values?
That is the dilemma investors will be weighing this month as they consider whether to take up the IPO. Shares in Emirates REIT will begin trading early next month.
Blue-chip assets
Emirates REIT owns an impressive small portfolio of Dubai commercial real estate. It is certainly no ragbag of unwanted property. It first bought Building 24 in Dubai Internet City in June 2011, and has since acquired three prestigious loft offices in the same free zone. It also owns Indigo Seven on Sheikh Zayed Road, the Office Park in the Dubai Knowledge Village and the GEMS World Academy in Al Barsha."
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