Dubai – Mubasher: Emirates REIT posted a growth of 12% year-on-year in its total portfolio value by the end of 2016, according to a statement.

Total portfolio value reached $752.7 million as of 30 December 2016, compared to $673.2 in the prior-year period.

Property income for the year increased 22.2% to total $50.7 million in FY16, compared to $41.5 million in FY15.

Total occupancy across the portfolio reached 81% at the end of 2016, and the weighted average lease expiry of the total portfolio was unchanged at 8.5 years.

Rental income increased 22.8% to $45.3 million in FY16, compared to $36.9 million a year earlier.