GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

 

  • Region's first hospitality focused REIT and the largest to date
  • FIVE REIT to include Viceroy Dubai Palm Jumeirah 
  • Real Estate Group formerly known as SKAI Holdings unveils new identity as FIVE Holdings

DUBAI, UAE, 11 June 2017: FIVE Holdings, the Dubai-based real estate development and hospitality group previously known as SKAI Holdings, has launched a AED2.10bn (USD570m) real estate investment trust (REIT), the region's first hospitality focused REIT and the largest to date. 

The REIT, to be regulated by the Abu Dhabi Global Market (ADGM) and Financial Services Regulatory Authority (FSRA), will include FIVE Holdings' AED4.3bn (USD1.17bn) Viceroy Dubai Palm Jumeirah, and all future projects subject to compliance with regulatory requirements.  

REITs issue securities in the form of shares that invest in income generating real estate including mortgages and may be traded like a stock when offered to the public. REITs allow investors to have an underlying stake in real estate, which in turn allows them to diversify their exposures and investments, as well as benefitting from long-term capital appreciation

FIVE Holdings also unveiled its new corporate identity for the first time today. Previously known as SKAI Holdings, the firm's new name and philosophy is based on the five elements and reflects the group's continued ambition to grow its current property portfolio of USD2bn. 

“Real estate is major contributor to the UAE economy and FIVE Holdings continuously looks at new ways to innovate and ensure that our investors have more avenues to investing their money. Owning units in a REIT instead of holding the title to a physical asset means investors will be able to buy and sell at a lower cost and with more flexibility. Investors will be able to monetise faster in a public offer by owning units within a REIT as opposed to a physical asset,” said Kabir Mulchandani, Chairman & CEO, FIVE Holdings. 

“REITs offer a compelling investment vehicle where risk is spread across a number of real estate propositions under one portfolio. This is the beginning of a wave and I envision the UAE REIT industry to be hundreds of billions of Dirhams over the next 10 years,” he added.  

“The launch of FIVE REIT demonstrates our commitment to ensuring our investors continue to share in the success of FIVE and its entrepreneurial approach to real estate development, hospitality, restructuring and investment. In addition to the FIVE Holdings' owned areas of the Viceroy Dubai Palm Jumeirah, around 60 investors have committed to contribute their property into the REIT, which we expect will continue to grow as we add more real estate into the portfolio,” said Dhananjai Cadambi, CEO, FIVE Capital Limited. 

In addition to FIVE Holdings' Viceroy Dubai Palm Jumeirah, FIVE REIT is expected to include its AED1.28bn (USD349m) Viceroy Dubai Jumeirah Village, which is now 40% complete and on track to open in Q3 of 2018. Additional projects will be added as they are announced or acquired. 

FIVE Holdings new corporate identity stems from the five elements. While earth represents trust and strong foundations; water represents fluidity and adaptability; fire represents passion and execution; air represents freedom and growth; and, consciousness represents vision and contribution to society and the economy. These elements also represent the five founders' entrepreneurial qualities, which shared collectively, leads to a strong cohesive team that manifests in annual profits of over USD100m. 

 



Posted by : GoDubai Editorial Team
Viewed 10828 times
Posted on : Sunday, June 11, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Dubai SME and International House for Real Estate Project Management Announce Winners of Joint Campa...
Next Story : The Indian RERA ushers in a positive era for Indian property buyers
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
The Overnight Success Podcast Brought to You by Maria Hatzistefanis
Glisten & Glow this Festive Season with Skin Republic Masks
D1 Milano Launches Exlcusive Limited Edition Collection –The Khaleeji
The Incredible Power of the Mushroom!
Beware of Cheap Beauty Deals: They May End Up Being More Costly
GaGà Milano unveils six extra-special watches to celebrate Neymar's genius
Carl F. Bucherer Celebrates Its Anniversary With the Heritage Tourbillon Double ...
8 Jours Grande Taille - a new avatar on iconic timepiece
Get Ready for The Festive Season with The Body Shop's Enchanted by Nature Gift C...
Tissot Lady Heart Flower Powermatic 80
Sukin's Top Holiday Picks for a Supple-Skin Winter Season
Switch your hair colour safely for the new season with Rahua's Color Full range
Omega Raises Its Warranty On All Watches to 5 Years
Everyday care for your baby's hair with Fifi & Friends!
Bringing you warmth and shine this festive season
Season's Greetings 2018
Twelve Holiday Gifts for the Beauty-Obsessed Woman
The Smile Bar Opens Its First Store in the UAE
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style
#MKGO Bold: Michael Kors Unveils Bold New Arrivals
Purely Pandora Classics With a Twist
Triumphant First Daman Dxb Swimfest at Jumeirah Beach Hotel
Indulge Your Love for Animal Print with M&S
Alina Anwar Couture Launches in UAE
Must-have festive Christmas jumpers and tees for the whole family
Parah dedicates its Fall/Winter 2018/19 collection to femininity
Author Dubai Abulhoul Calls for the Preservation of Emirati Folktales
Starbucks announces the return of festive favourites
New 1948 Seamaster Watches Join the Ranks
Festive Gifting Guide
Add a festive sparkle to your eyes with Palladio Beauty
Le Clos Excited About the First Daman DXB Swimfest
The Geo-Graham Orrery Tourbillon presents a galaxy you can reach out and wear Ge...
National Geographic Launches Mars 2 into Orbit with Season 2 Premiering Nov 15 ...
Give an abandoned or neglected cat their forever home at Kittysnip's adoption da...
Land Rover Supports Red Cross Disaster Projects Worldwide
‘Celebrate 2019 Now' with special deals from Al-Futtaim Toyota
Sprint for a Great Cause at Al Maha
EDCC organizes largest UAE Pavilion at debut SNSR in Saudi Arabia
Etihad Airways Launches Model Diary of Xiaowen at China International Import Expo
Department of Culture and Tourism – Abu Dhabi Organises ‘Herfaty' Programme in A...
Jameel Arts Centre, Dubai opens with an ambitious set of exhibitions and program...
Dubai Customs helps brand owners to recycle 18 m counterfeit items
Unilever MENA calls for collective action as it's revealed that 54% of consumers...
Emirates Steel signs new long-term iron ore pellet supply deal with Vale
The Sharjah Stamp Exhibition celebrates the Year of Zayed
Presenting Katrina Kaif in her hottest desi avatar as Suraiyya in Thugs of Hindostan
Top five new things to do at Golden Mile Galleria this season
IKEA Promises 25 Years of Quality Guarantee
The new BMW 8 Series Convertible.