Dubai – Mubasher: The net profits of Emirates REIT, the UAE's largest Sharia-compliant real estate investment trust, amounted to $50.853 million as at 30 June 2021, against net losses of $70.045 million in the year-ago period.
The company's total property income jumped by 8.1% year-on-year (YoY) to $36.8 million (AED 135.2 million) during the first half (H1) of 2021 from $34 million (AED 124.9 million) in the same half of 2020, according to the company's disclosure to Nasdaq Dubai.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) hiked by 93.2% to $29.7 million (AED 109.1 million) in H1-21 from $15.4 million (AED 56.6 million) in H1-20.
The net asset value (NAV) per share jumped by 23% to $0.91 per share in the first six months of 2021 from $0.74.
The earnings per share (EPS) settled at $0.17 in H1-21, against losses per share of $0.24 in the corresponding half of 2020.
