Emirates REIT (REIT) AGM 2025 presentation summary

Key highlights

• Total property income reached $133 million, up 79% year-on-year as of December 2024.

• Net property income rose 96% to $122 million, and operating profit more than doubled to $99 million.

• Occupancy improved by 8 percentage points to 94%, and net asset value increased 42% to $708 million.

• Investment properties were valued at $932 million, up 0.9% year-on-year.

Market overview

• UAE GDP grew 3.7% in 2024, with strong performance in tourism, transportation, finance, and real estate.

• Office market saw tight supply and 20% rent growth, with occupancy at 94%.

• Retail sector benefited from record tourism and population growth, with rents up nearly 4%.

• Dubai's private school sector expanded, with student enrollment up 6% and 10 new schools opening in 2024-25.

Operational highlights

• Gross income increased 6.5% year-on-year, while operating costs fell 6.3%.

• Portfolio-wide occupancy rose to 94%, with notable gains across education and office assets.

• Operating expenses per occupied square meter continued to decline, reflecting efficiency gains.