Emirates REIT’s net income grew 25% y-o-y to USD 184.9 mn in 9M 2025, according to its earnings report (pdf).

Total property income was up 22% y-o-y to USD 59.6 mn, while its portfolio occupancy rose 2 percentage points y-o-y to 94% during the first nine months of the year. The company saw its financing to asset value ratio reduced by 16 percentage points to 20% as of the end of September. This contributed to the net asset value rising 37% y-o-y to USD 886 mn.

Total asset value also increased to USD 1.2 bn by the end of September, a 3.9% y-o-y rise, driven primarily by substantial net unrealized revaluation gains of USD 171 mn, climbing 15% y-o-y despite REIT’s prior sale of investment properties in the previous fiscal year. Emirates REIT’s funds from operations came in at USD 14 mn, flipping from a loss of USD 500k the previous year. This improvement was largely underpinned by stronger debt management, with net finance costs declining sharply to USD 17 mn, down 57% from the previous year.

Tags: