Emirates REIT has defended a controversial decision to withhold dividends, and is now exploring options to increase liquidity and value for investors.
The move has come amid a prolonged slump in the unit price of Emirates REIT, which has fallen by 65% in the year-to-date.
Emirates REIT is the world’s largest Shari’ah-compliant REIT by market capitalisation.
It was listed on NASDAQ Dubai in April 2014, and holds a portfolio of 11 properties across Dubai including a mall, office properties, and education facilities.
The REIT’s recent troubles can arguably be traced to August 2015, when it entered into an agreement with Jebel Ali School.