Emirates NBD’s real estate investment trust (ENBD REIT) reported USD 29.0 mn in net income for 1H FY 2025-26, driven largely by USD 22.7 mn in unrealized valuation gains, according to its Nasdaq Dubai disclosure. Funds from operations rose 23.1% y-o-y to USD 6.3 mn as portfolio occupancy hit a record 96%, supported by strong tenant retention and sustained demand for Grade A Dubai office space.

ENBD REIT’s net asset value rose 2.5% q-o-q to USD 242.6 mn as of the end of September — or USD 0.97 per share, up 20.3% y-o-y — supported by a 1.9% q-o-q increase in portfolio valuations to USD 419 mn, driven by valuation gains from prime office assets like Burj Daman.

Portfolio snapshot: The REIT’s 10-asset portfolio remains weighted toward offices (71%), followed by residential (13%) and alternatives such as education and student housing (16%).

Dividends: The board approved an interim dividend of USD 5.1 mn for the period, slightly above last year’s USD 5.0 mn, pending shareholder approval.

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