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Dubai fund Emirates REIT sells half an office floor at its flagship Index Tower in DIFC


Dubai: The fund manager of Emirates REIT is picking up Dh40 million from selling half of an office floor at its flagship property, the Index Tower at DIFC. The shell-and-core space is priced at Dh3,350 a square foot.
The proceeds from the sale will come in quite handy for Equitativa, the fund manager, as it tries to get Emirates REIT back from a Dh897 million loss sustained in 2020. Market watchers have been talking about more selective disposals of assets, which include educational and healthcare facilities as well as industrial.
Upon completion of the office divestment, the property fund remains the principal owner within Index Tower wit 79 per cent of the office floors. ....

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