ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shariah compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces its financial results for the first quarter of the financial year ended 30th June 2025. NAV stood at USD 236.6 million, equivalent to USD 0.95 per share, reflecting a 8.2% quarter-on-quarter (QoQ) and 18.8% year-on-year (YoY) increase. The total value of ENBD REIT’s property portfolio rose to USD 411 million, up 4% QoQ and 10% YoY, with the increase largely driven by valuation gains across prime office assets such as Burj Daman in DIFC. Portfolio occupancy remained at a record-high 95%, reinforced by long-term leases across alternative assets. The Weighted Average Unexpired Lease Term (WAULT) stood at 3.30 years, reflecting a well-balanced mix of secure long-term income streams and active leasing opportunities. Funds From Operations (FFO) reached USD 3.2 million, up from USD 2.85 million in the previous quarter, a 13% QoQ increase, supported by lower reinstatement costs, disciplined fund expense management, and steady rental income. Net income for the quarter, including valuation movements, of USD 18.2 million, largely driven by a USD 15 million unrealised gain in valuations.
Metrics to compare | ENBDREIT | Sector Sector - Average of metrics from a broad group of related Real Estate sector companies | Relationship RelationshipENBDREITPeersSector | |
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P/E Ratio | 2.5x | −1.4x | 9.0x | |
PEG Ratio | - | −0.04 | 0.01 | |
Price/Book | 0.5x | 1.0x | 0.9x | |
Price / LTM Sales | 3.2x | 3.8x | 4.1x | |
Upside (Analyst Target) | - | 20.0% | 12.5% | |
Fair Value Upside | Unlock | 0.1% | −0.9% | Unlock |