Emirates REIT, the UAE's first real estate investment trust, plans to sell shares in an initial public offer (IPO) on the Nasdaq Dubai bourse before the end of this year. Emirates REIT, which was formed in 2010 and complies with Islamic investment principles, has income-generating assets worth AED770mn (USD210mn). REIT directly invest in properties and distribute profits as dividends. Dubai Islamic Bank (DIB.DFM) owns 35.3% of the company, while state-owned conglomerate Dubai Holding owns 31% through two of its units. The company is in talks to hire a financial advisor for the listing; however, the potential size of the IPO was not specified yet. Emirates REIT's portfolio is mainly comprised of commercial properties in Dubai, according to Mubasher Trade and Research.