Dubai – Mubasher: Equitativa has announced that its subsidiary Emirates REIT was selected to join the FTSE EPRA/NAREIT Emerging Index.

The selection of the GCC’s largest REIT manager came after the company reported a hike in its daily average trade volumes in 2017, according to a company statement.

"REITs are starting to emerge as an asset class in their own right in the GCC, and regional retail and institutional investors are recognising these products as stable, long-term, and income-yielding investments,” Equitativa’s group chairman Sylvain Vieujot commented.

In August, Emirates REIT posted a 27% year-on-year increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA).

The FTSE EPRA/Nareit Global Real Estate Index is a property index designed to track the performance of listed real estate companies and REITs in Emerging Markets.