Dubai – Mubasher: The Nasdaq-listed ENBD REIT is considering divesting a real estate asset in Dubai Silicon Oasis, which represents around 6% of its overall portfolio by value.
The company’s board has received and accepted a Letter of Intent in respect to the property, which constitutes 11.8% of its prevailing Net Asset Value, according to the company’s disclosure to Nasdaq Dubai on Sunday.
The board is negotiating the final terms of the transaction and final documentation, expected to be agreed in June 2021, prior to transfer.
The company will announce the proposed use of disposal’s proceeds following the completion of the transaction.
