{"id":104150,"date":"2025-05-29T00:00:00","date_gmt":"2025-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/enbd-reit-orascom-post-earnings\/"},"modified":"2025-05-29T00:00:00","modified_gmt":"2025-05-29T00:00:00","slug":"enbd-reit-orascom-post-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/29\/enbd-reit-orascom-post-earnings\/","title":{"rendered":"ENBD REIT, Orascom post earnings"},"content":{"rendered":"

ENBD REIT- <\/p>\n

Emirates <\/strong>NBD\u2019s real estate investment trust (ENBD REIT) saw its net income <\/strong>surge <\/strong>61% y-o-y to USD 33.7 mn in its FY 2024-2025<\/strong>, which ended in March, driven by valuation gains, rising rental income, and operational efficiency, according to a Nasdaq Dubai disclosure<\/a>. Gross income rose to USD 37.5 mn, up from USD 34.6 mn the previous year.<\/p>\n

ENBD REIT\u2019s property portfolio grew 6.9% y-o-y to USD 395 mn<\/strong>, while net asset value jumped 12.3% to USD 218.6 mn (USD 0.87 per share). Occupancy reached a record 95%, up from 93% a year earlier, driven by strong office demand and near-full residential uptake.<\/span><\/p>\n

Funds from operations \u2014 the REIT\u2019s preferred earnings metric \u2014 surged 45% y-o-y to USD 11.2 mn<\/strong>, supported by stronger leasing and cost discipline. Lower finance costs helped offset a modest rise in operating expenses tied to higher utility and maintenance outlays.<\/p>\n

Dividends: <\/strong>ENBD REIT proposed a final dividend of USD 5 mn, bringing total dividends for the year to USD 10 mn \u2014 a 33.3% increase y-o-y. The final payout is subject to shareholder approval at the AGM on 25 June.<\/p>\n

ORASCOM CONSTRUCTION- <\/p>\n

Orascom Construction saw its revenues inch up 10.6% y-o-y <\/strong>to record USD 847.6 mn during 1Q 2025, according to its latest earnings release (pdf)<\/a>. MEA operations made up 61% of total revenues, bringing in USD 518.7 (up 44.2%), and US operations accounted for the rest, bringing in USD 328.9 mn, marking a 19.1% y-o-y dip. \u201cRevenue in MEA reflects the execution of new large-scale projects while revenue in USA is expected to increase along with new awards during the year,\u201d the release read.<\/p>\n

Net income attributable to shareholders fell 45.6% y-o-y<\/strong> to USD 25.1 mn during the quarter. Net income from Middle East and Africa operations was down 52.2% y-o-y as was the income from US operations. The 560% y-o-y increase in net income from OC\u2019s Belgium-based subsidiary BESIX wasn\u2019t enough to offset the dips from MEA and US operations. <\/p>\n

Behind the dip: <\/strong>Net income for the comparative period \u201cincluded an above-average level of net financing gain that reflected the devaluation of the EGP in March 2024. Excluding this impact, net [income] in Q1 2025 would have reported an increase y-o-y,\u201d the release read. <\/p>\n

The company\u2019s consolidated backlog increased 20.1% y-o-y to USD 8.7 bn during the <\/strong>three-month period.<\/strong> The increase was the result of the company signing new contracts worth USD 1.6 bn across Saudi Arabia, Egypt and the US. Projects in Egypt made up 59% of the backlog, followed by the US with 16%, and Saudi Arabia with 15%. <\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT proposed a final dividend lifting the full-year payout up 33.3% y-o-y<\/p>\n","protected":false},"author":1,"featured_media":104151,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,260,7,1094,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-104150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-emirates-nbd","tag-enterpriseam-uae","tag-orascom-construction","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"19fbc7e3-5ce8-4c29-911a-ce68e99dceef","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2335.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ENBD REIT, Orascom post earnings","related_issue":[104126],"teaser":"The REIT proposed a final dividend lifting the full-year payout up 33.3% y-o-y","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.9108a6db-c041-4e9e-8ef2-6e26bea35ec1.mp3"},"yoast_head":"\nENBD REIT, Orascom post earnings - 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