Equitativa Dubai Limited, the manager of the Emirates REIT fund, recently announced the fund’s financial results for the fiscal year 2025, which ended on December 31, 2025.
According to the press release, the results showed a significant improvement in the fund’s performance over the year, driven by increased asset values and higher occupancy rates, in addition to the completion of financing restructuring.
During the past year, the fund executed notable financial measures, including the refinancing of both Sukuk and Islamic facilities, which contributed to enhancing liquidity levels and resuming semi-annual dividend distributions.
Cash flows from operations reached approximately $25 million (AED 91.83 million) during 2025, compared to a loss of around $5 million (AED 18.36 million) at the end of fiscal year 2024, excluding profits from the sale of investment properties in the previous year.
Net property income jumped by 20% year-on-year to reach $71 million (AED 260.8 million), compared to $59 million (AED 216.7 million) in 2024. The fund’s portfolio occupancy rate also rose to 96%, up from 94% in the previous year, while the financing-to-asset ratio declined to 20%, down from 24% at the end of 2024.
Net financing costs saw a notable decrease of 61%, amounting to approximately $19 million (AED 69.8 million), compared to $50 million (AED 183.66 million) in 2024.
As for the total asset value, it increased to around $1.25 billion (AED 4.6 billion) thanks to revaluation gains of $191 million (AED 701.58 million), despite the sale of two investment assets during the past year. As a result, the net asset value rose by 27% year-on-year to reach $896 million (approximately AED 3.3 billion). The fund also distributed dividends of $14.5 million (AED 53.26 million) to investors during the year.
