Second UAE REIT Launches with Apex as Administrator

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May 16, 2017, Dubai: Second ever REIT to be listed in the UAE, ENBD REIT (CEIC) Ltd, selects global independent provider Apex Fund Services as administrator.

Global independent administrator, Apex Fund Services (“Apex”), has been selected to provide fund administration services to the second REIT ever to be listed in the UAE. The Shari’a compliant real estate fund, ENBD REIT (CEIC) Ltd. (“ENBD REIT”), will be serviced locally by Apex’s Dubai office.

Launching with just under USD300m as listed on Nasdaq Dubai, ENBD REIT is a single listed fund managed by Emirates NBD Asset Management. It is only the second ever REIT to be listed in the UAE and was the first IPO in the UAE this year.

Tim Rose, Head of Real Estate at Emirates NBD Asset Management, said, “Following the successful IPO of ENBD REIT on Nasdaq Dubai, we are pleased to have appointed Apex to provide fund administration services that will support us in our activities as a listed company. Apex has an excellent reputation in the market and a very positive track-record. We look forward to working closely with their team.”

Peter Hughes, Founder and CEO at Apex Fund Services said, “As an experienced real estate administrator with a local presence in Dubai, we are very happy to be supporting the beginning of what is an inevitable upsurge of successful real estate funds launching in the UAE. Apex’s Dubai office celebrated its 10 year anniversary last year and houses one of our specialist real estate and private equity teams; this means we will deliver a tailored real estate focused service to ENBD REIT”.

-ENDS –

For any queries please contact: Rosie Guest, Global Marketing Director, Apex Fund Services: [email protected]

About ENBD REIT (CEIC) Ltd.

ENBD REIT (CEIC) Limited (“ENBD REIT”) is a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”). ENBD REIT is a closed-ended investment company that was incorporated by the Fund Manager to invest in a diversified Portfolio of Shari’a-compliant real estate assets in the UAE. ENBD REIT has an unlimited duration and was established in the DIFC by the Fund Manager on 18 July 2016 under the Companies Law with the name “Emirates Real Estate Fund Limited” and with registration number 2209. The Fund subsequently changed its name to “ENBD REIT (CEIC) Limited”. ENBD REIT is categorised under DFSA law and regulations as a Public Fund, a Domestic Fund, an Islamic Fund, a Property Fund and a Real Estate Investment Trust (REIT). ENBD REIT has been established with the main investment objective of generating income returns and capital appreciation from real estate assets. ENBD REIT plans to achieve its objectives through the following strategies: (i) prudent acquisitions with a focus on achieving diversification; and (ii) active asset management and enhancement. For more information, visit: www.enbdreit.com

About Apex Fund Services:

Apex Fund Services, established in Bermuda in 2003, is one of the world’s largest specialist fund administration and middle office solutions providers. Apex has continually improved and evolved its product suite by surrounding these core administrative services with additional products spanning the full value chain; from information delivery and regulatory products to capital introduction services. The globally distributed service model is delivered by over 600 staff across 32 offices. Apex now administers the investments of some of the largest funds and institutional investors in the world. www.theapexgroup.com

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