ENBD Reit buys school for Dh55M

dubai — ENBD Reit, the Nasdaq Dubai-listed Shariah-compliant real estate investment trust managed by Emirates NBD Asset Management, has acquired South View School in Remraam. South View School will be Interstar Education’s fifth Dubai campus and its second British curriculum school

ENBD Reit signed a musataha of the plot, and will construct the school for Dh55 million. The deal marks ENBD Reit’s first acquisition of an education asset. In May, the Reit acquired the Uninest Dubailand student accommodation building for Dh120 million.

Tim Rose, head of real estate at Emirates NBD Asset Management, said: “We’re pleased to announce our second acquisition since listing on Nasdaq Dubai in March.”

— business@khaleejtimes.com