Group of shareholders calls for investigation into Emirates REIT | Property – Gulf News:
The problems at Emirates REIT are escalating after a group of shareholders approached the regulator for an investigation into the valuations done by the real estate fund on its investment properties.
They also want Dubai Financial Services Regulator to look into the fund’s operating expenses since April 2014, which was when Emirates REIT listed on Nasdaq Dubai.
Shareholder interests would be served only through an “independent valuation” of Emirates REIT’s assets, the letter states. At the same time, there should be no interference by the fund’s manager – Equitativa - in the process to avoid bias.
“We request that such steps be taken as a matter of some urgency,” the shareholders’ note says.
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