Emirates REIT (REIT) investor relations material

Executive summary

• Achieved record Funds from Operations of USD 24.9m, reflecting improved earnings and cost reductions.

• Total occupancy reached 96%, driving property income to USD 80.5m, up 19% year-over-year on a like-for-like basis.

• Profit for the year rose 3.8% to USD 216.4m, with net asset value increasing 27% to USD 896.1m.

• Loan to Asset Value reduced by 4 percentage points to 20%, highlighting ongoing deleveraging.

• Continued dividend distributions in line with policy, supported by strong returns and capital structure optimization.

Financial highlights

• Total property income increased 19% year-over-year to USD 80m on a like-for-like basis.

• Operating expenses decreased 16% to USD 9.7m, while fund expenses rose due to a performance fee.

• Operating profit reached USD 44.2m; net finance costs declined 61% to USD 19.3m.

• Net unrealised gains on revaluation rose to USD 191.4m, boosting profit for the year to USD 216.4m.

• Investment property portfolio value grew 20% to USD 1,172.7m; NAV per share rose to USD 2.81.

Outlook and guidance

• Focus remains on maintaining operational discipline, optimizing capital structure, and safeguarding shareholder interests amid regional uncertainties.

• Management is committed to sustainable long-term returns and flexibility to respond to evolving market conditions.