Dubai – Mubasher: Emirates REIT has announced that its earnings before interest, tax, depreciation and amortisation (EBITDA) rose 21% to AED 31.3 million ($8.5 million) in the first quarter of 2018.

The trust’s real estate operating income grew 23% to AED 48.6 million ($13.2 million) in Q1-18, while its portfolio reached AED 3.2 billion ($870 million) in the same period, according to an official statement released on Wednesday.

Emirates REIT’s net asset value recorded AED 1.9 billion ($520 million) in the first three months of 2018.