Emirates REIT (REIT) AGM 2025 presentation summary

FY 2025 highlights

• Total property income USD 80.5m and net property income USD 70.8m; like-for-like growth of 19% and 20%, respectively, excluding sold properties.

• Total profit USD 216.4m, up 3.8% YoY; earnings per share USD 0.678, up 3.8%.

• Occupancy reached 96%, up 1.3 p.p. YoY on a like-for-like basis; FY 2025 investment properties valued at USD 1,172.7m.

• Net asset value rose 27% to USD 896.1m; NAV per share increased 27% to USD 2.81, including FY 2025 reclassifications.

Portfolio and operations

• FY 2025 like-for-like annualized rents increased 13% and operating costs rose 12%; net operating income reached USD 71m, up 20% like-for-like.

• Indigo 7 sold to a private purchaser on 12 June 2026 for AED 37m, versus AED 34.8m market value at 31 December 2025; proceeds intended to strengthen financial flexibility.

• UAE office occupancy was 95% in Dec 2025, versus 94% in 2024; office rents rose 18% YoY, with prime rents up 23%.

Financial position and distributions

• Total assets were USD 1,245m, up 20% YoY; Islamic financing was USD 243.1m, down 1.2%, and LTV improved to 20% from 24%.

• FY 2025 net finance cost declined 61% to USD 19.3m; funds from operations were USD 24.9m, versus USD 49.3m in FY 2024.

• USD 14.5m in dividends was paid during FY 2025; a USD 13m final dividend was proposed, bringing total FY 2025 distributions to USD 20.5m subject to approval.