by Amruth Sundarkumar | Nov 15, 2022 | High Yield Bonds
Emirates REIT launched a consent solicitation to refinance its $400mn 5.125% unsecured sukuk due December 2022 with new secured certificates. It received support for the consent solicitation from an ad hoc group of eligible sukuk holders holding over 30% of the...
by Amruth Sundarkumar | Aug 11, 2022 | Corporates
Emirates REIT reported a 20.9% YoY rise in its 1H net profits to $61.5mn. Its net property income declined 10.9% YoY to $26.9mn. Excluding the effect of asset disposals in the previous year, the net Property Income grew 19.6% YoY. Occupancy increased by 0.5% in Q2 to...
by Amruth Sundarkumar | May 27, 2022 | High Yield Bonds
Emirates REIT reported a 14% YoY rise in its Q1 2022 operating profits to $9.8mn. Its net property income rose 4.4% QoQ to $14.1mn, as the REIT said that it focused on core income growth and cost optimization. Occupancy across the REIT’s portfolio grew by around 9.6%...
by Amruth Sundarkumar | Apr 28, 2022 | Corporates
Emirates REIT reported a net profit of $63.1mn in FY2021, from a net loss of $242.9mn in 2020. Emirates REIT reported a 59.3% rise in operating profit to $46.6mn in 2021. Net Property Income increased by 7.7% YoY to $56mn as the company noted that it focused on cost...
by Amruth Sundarkumar | Jun 22, 2021 | High Yield Bonds
Emirates REIT showed recovery signs with Q1 profits of AED 131.5mn ($36mn), as compared to losses of AED 170.1mn ($46mn) in the same period last year. Profits were on the back of a positive revaluation of investment properties and lower operating expenses they said....
