• The portfolio's value continues to rise, reaching US$419 million, a 1.9% increase on a quarterly basis.
• Net asset value increased by 2.5% quarter-on-quarter and 20.3% year-on-year to reach US$242.6 million or US$0.97 per share.
• The portfolio's occupancy rate reached a record high of 96%.
• The Board of Directors proposes an interim dividend of US$5.1 million, subject to shareholder approval.

Dubai, UAE: ENBD REIT (CEIC) PJSC (“ENBD REIT”), a Sharia-compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announced its results for the six-month period ending September 30, 2025. The company reported net asset value (NAV) of US$242.6 million, or US$0.97 per share, reflecting a 2.5% increase quarter- on-quarter and a 20.3% increase year-on-year .

NPD REIT’s real estate portfolio value increased to US$419 million, reflecting a 1.9% quarter-on-quarter and 8% year-on-year increase. This growth was driven by valuation gains across its core office assets, particularly the Damac Tower in the Dubai International Financial Centre (DIFC), and continued strong leasing across the portfolio. Cash generated for the period reached US$6.3 million, a 23.1% year-on-year increase, supported by improved occupancy and lower financing costs. In light of this positive performance, the Board of Directors approved an interim dividend of US$5.1 million, up from US$5.0 million for the same period last year, demonstrating the company’s commitment to delivering sustainable returns to shareholders.

Net income reached US$29.0 million as of September 2025, driven by unrealized gains in valuations of US$22.7 million across the portfolio, and an occupancy rate of 96%, the highest since the company’s inception, with significant improvements in the performance of Building 25 (Dubai Healthcare City) and Al Thuraya Tower 1. This strong performance reflects high demand from tenants, proactive leasing activity, and effective asset management.

The loan-to-value ( LTV ) ratio reached 43% by the end of the quarter, supported by higher valuations and disciplined balance sheet management.

In this regard, Jonathan McGloen, Head of Real Estate at Emirates NBD Asset Management, said:

“Our performance in the first half of the financial year reflects the resilience and diversification of ENPD REIT’s portfolio, with record occupancy rates and sustainable valuation gains across our key office assets such as Daman Tower, Building 25 in Dubai Healthcare City, and Al Thuraya Tower 1, indicating continued positive market momentum and the effectiveness of our leasing strategy. With a disciplined approach to asset management, lower financing costs, and enhanced interim distributions, we remain committed to delivering stable returns and long-term value to our shareholders.”

Operating expenses also decreased by 8% compared to the same period last year, driven by lower leaseback costs for existing tenants. Conversely, fund expenses increased by 13% during the period, due to higher provisions in September 2025 and increased fund management fees associated with the rising net portfolio value.

NPD REIT continues to focus on maintaining high occupancy levels across its diversified portfolio, enhancing asset performance, and implementing a disciplined approach to asset management to generate greater value. Capitalizing on favorable market dynamics and the strength of Dubai's growing real estate sector, the company is well-positioned to deliver stable income returns and sustainable long-term growth for its shareholders .

Subject to shareholder approval, the proposed interim dividend of US$5,100,000, or US$0.0204 per share, will be distributed to shareholders, with a record date of December 5, 2025 and a distribution date of December 19, 2025.

For more information:

ENPD REIT (CEIC) PJSC (Investor Relations)

Mona Zahreddine

ENBDREITIR@EmiratesNBD.com

3034 509 4 (0) 971+

Company Secretary

Kathryn Miller

cosecme@equiomgroup.com

Icum Corporate Services

3900 446 4 (0) 971+

IB Exelera (Public Relations)

Corporal Dhu al-Kifl

Arief.Zulkifli@ipexcellera.com

3431 906 58 (0) 971+

About INPD REIT (CEIC) PJSC

ENBD REIT (CEIC) PJSC is a Sharia-compliant real estate investment trust (REIT) managed by Emirates NBD Asset Management Limited (“the Fund Manager” – regulated by the Dubai Financial Services Authority), listed on Nasdaq Dubai under the symbol ENBDREIT . ENBD REIT (CEIC) PJSC is a closed-end investment company established by the Fund Manager to invest in a diversified portfolio of Sharia-compliant real estate assets in the UAE. ENBD REIT (CEIC) PJSC has an indefinite term and was incorporated in the Dubai International Financial Centre (DIFC) by the Fund Manager on July 18, 2016, under the Companies Law as “Emirates Real Estate Fund – Limited” with registration number 2209. The Fund subsequently changed its name to “ENBD REIT (CEIC) Limited” and later to ENBD REIT (CEIC) PJSC in accordance with the new Companies Law of the DIFC. ENBD REIT (CEIC) PJSC is classified under the laws and regulations of the Dubai Financial Services Authority (DFSA) as a public, local, Islamic, real estate, and real estate investment trust (REIT). ENBD REIT (CEIC) PJSC was established with the primary investment objective of generating income and capital appreciation from real estate assets. ENBD REIT (CEIC) PJSC plans to achieve its objectives through the following strategies: (1) prudent acquisitions with a focus on diversification; and (2) effective asset management and enhancement. For more information, please visit: www.enbdreit.com

Real estate portfolio

Office real estate:

Thuraya Tower 1 (Dubai Media City)

A 29-story office tower with a ground floor, boasting a prime location in Dubai Media City with views of Barsha Heights and Palm Jumeirah.

Daman Tower (Dubai International Financial Centre)

Emirates NBD REIT owns two and a half floors of this entire building (floors 10, 14 and half of floor 15) in the office section of the tower, which is located in the Dubai International Financial Centre.

Building No. 49 (Dubai Healthcare City)

A five-story office complex with a ground floor located in the Dubai Healthcare City Free Zone.

Building No. 25 (Dubai Healthcare City)

A six-story office building with a ground floor located in the Dubai Healthcare City Free Zone .

The Edge Building (Dubai Internet City)

A six-story office building with a ground floor, distinguished by its unique location in Dubai Internet City.

Residential properties:

Arabian Oryx House (Barsha Heights)

A residential tower consisting of 128 units in the Barsha Heights area of Dubai, consisting mainly of one, two or four bedroom apartments.

Binghatti Terraces (Dubai Silicon Oasis)

A residential tower comprising 201 residential units and 5 retail units in the Dubai Silicon Oasis area, built by a developer with a proven track record.

Alternative real estate:

Unisit Student Residence (Dubai Land)

The student accommodation building is designed to house 424 students and boasts a convenient location near Dubai Academic City, providing housing for students enrolled at City University. It is leased 100% to GSA, a global student housing company.

South View School (Ramram)

A primary and secondary school on a 132,000 square foot site that follows the British curriculum and is run by the Interstar Education team.

Phase 1 of Extra Market Center (Dubai Silicon Oasis)

A community center in Dubai Silicon Oasis spanning over 36,820 square feet of leasable space, comprising 25 fully leased retail stores to major companies.

Key figures*

* All figures as of September 30, 2025

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