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Press Release Press Release 28 September 2016 Emirates REIT to invest AED 88 million to build a new school in Dubai Investments Park Third school will increase REIT’s education sector portfolio to AE !0" million# 2$%$& of total portfolio Emirates REIT a'rees 28()ear lease with *ritish +olumbia +anadian School ,ew school de-elopment 'enerates stron' rental )ields and secures lon'(term cash .ow Emirates REIT (CEIC0 Limited (“Emirates REIT” or the “REIT304 the UAE’s first re'ulated Shari'a compliant real estate in-estment trust incorporated in the Dubai International Financial Centre (“DIF+”) and listed on ,AS A9 Dubai, announced today that it has ac:uired the interest on a 25,000 s:m leasehold land plot and will fund the de-elopment of a new school in Dubai In-estments Par<. The o-erall in-estment in the de-elopment of the school facilities is estimated to be AE 88 million% Emirates REIT ac:uired the interest on the leasehold land plot from the British Columbia Canadian School and immediately leased bac< the propert) to the school operator for a 28-)ear lease term4 pro-idin' an initial net income of 12% of the total de-elopment costs within the first year% Simultaneousl), the REIT entered into an Istisna agreement to fund the construction of the new educational facilities in two phases% The educational facilities will include a foundation, primar) and secondar) school, as well as a sports centre and an auditorium. The school will be constructed to the operator’s specifications o-er a built up area of 17,156 s:m% S)l-ain =ieu>ot4 +hief E?ecuti-e @f6cer of Emirates REIT Aana'ement /;ri-ate0 1imited4 saidB “This is Emirates REIT’s third school transaction and we are delighted to partner with the British Columbia +anadian School. We continue to belie-e in the strate'ic importance of the education sector in the United Arab Emirates, and this new school will be a new landmar< in a fast('rowin' area of Dubai. For shareholders of the REIT4 the transaction will immediately increase rental income, offer substantial valuation upside and pro-ide secure cash flows in the lon' term%3 The British Columbia Canadian School of Dubai is part of an established international education pro'ram, super-ised and certified b) the Go-ernment of British Columbia in Canada. It comprises 45 schools in eight different countries and will be operated b) an e?perienced team that alread) owns and operates the British +olumbia Canadian International School of Cairo, in E')pt% Emirates REIT (CEIC0 Limited F Licensed b) 8SA ;ADE 1 @8 G Press Release 28 September 2016 ubai In-estments Par< is a mixed(use industrial, commercial and residential de-elopment spread o-er 23 million s:m. The catchment area for the British Columbia Canadian School will come from ad>acent major residential de-elopments includin' the Green Communit), Jumeirah Golf Estates, International Media ;roduction Zone, Dubai Sports Cit)4 Disco-er) Gardens, Jumeirah Village Circle and Jebel Ali Village% Jarim Aostafa4 =ice +hairman of *ritish +olumbia +anadian School saidB 2Ce are ver) pleased to enter the UAE with a solid partner, Emirates REIT. Our compan) has been in the education business for o-er a decade, currentl) operatin' 2 schools in E')pt4 and launchin' 2 more schools in 2018 in New Cairo% BC+S Dubai in DIP Dubai In-estments Par< will be our compan)'s flagship school,. and we are ver) e?cited to start the construction now%K +ontinuin', Mr Vieujot saidB “We are pleased to announce this ac:uisition which coincides with the conclusion of the construction of the Jebel Ali School, in Damac’s A<o)a de-elopment. This was a similar in-estment that Emirates REIT initiated one year ago% We were able to deliver the school on time and on bud'et with the school operatin' since the start of the new academic year%3 ( Ends ( 8or en:uiries please contactB Magali Mou:uet Rupert Youn' / Tala Tou<an Emirates REIT Brunswic< N971 4 405 7348 N971 4 446 6270 irOreit.ae [email protected] About Emirates REIT Emirates REIT, (NAS A9 Dubai: REIT# ISI,: AE 8PA1XE$ !04 the first Shari’a compliant Real Estate In-estment Trust listed on NAS A9 Dubai, is a Dubai(based real estate in-estment trust established to in-est in principally income(producin' real estate in line with Shari'a principles. It currentl) owns 8 properties in freehold or leasehold4 in commercial, retail and education. Emirates REIT benefits from an e?clusive Ruler's Decree permittin' to purchase properties in onshore Dubai. For further information, please refer to our website www%reit.ae Emirates REIT (CEIC0 Limited F Licensed b) 8SA ;ADE 2 @8 G Press Release 28 September 2016 The ;ropert) ;ortfolio Le Grande Mall in Dubai Marina, consistin' of 22 individual retail and FQB outlets% Buildin' 24 is a low(rise buildin' featurin' commercial office and retail space located in Dubai Internet Cit) – a well-established commercial district in Dubai. Loft Offices (Loft 1, Loft 2 and Loft 3) are a cluster of three low(rise commercial buildin's located in ubai Media Cit)% @ffice Par< is a commercial buildin' located in Knowled'e Village within Dubai Internet Cit)% Indigo 7 is a low(rise buildin' located on Sheikh Zayed Road% DEMS World Academ) Dubai is an education facilit) located in Al Barsha South% Hebel Ali School is an education facilit) located in A<o)a b) Damac, Sports Cit)% British Columbia Canadian School is an education facilit) located in Dubai In-estment Par<% Inde? Tower is a mixed(use propert) located in the DIF+. The REIT’s assets in Inde? Tower consists of the entire retail area located o-er ground, podium and s<) lobb) le-els, 17 floors of office space and 1426 car par<s% Emirates REIT (CEIC0 Limited F Licensed b) 8SA ;ADE G @8 G.
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