Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (January 2016)
35 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jan 17, 2016
Slide 1: General Meeting
General Meeting 17 January 2016
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Emirates REIT Management (Private) Limited as the Manager of Emirates REIT (CEIC) Limited. Whilst every care has been taken in relation to the accuracy, no warranty is given or implied. The information provided is not investment advice and recipients
Slide 3: Agenda
Agenda I. Notable Events II. Foreign Ownership & Shareholder Structure III. Portfolio Summary & Updates IV. Performance V. Resolutions VI.Questions and Answers
Slide 4: Shareholders Structure
Shareholders Structure 15.7% ) Dubai Islamic Bank PJSC 11.7% — Vintage Bullion 3.1% — Wi Frontier Management 3.8% — TECOM Investments ~ 10.0% Schroders Investment Manz 4.7% ~ ‘bu Dhabi - Asset Management 7 4.7% Emirates NBD Clients \ / 9.9% 4.9% Dubai Properties Group LLC Rimco Investments LLC 6.4%
Slide 5: Portfolio Summary & Updates
PORTFOLIO SUMMARY & UPDATES
Slide 6: Portfolio (As at 30 November 2015)
Portfolio (As at 30 November 2015) Portfolio Value Net Asset Value Properties Occupancy WALE AED 2.5 bn AED 1.7 bn * Weighted Average Lease Expiry USD 670 mn USD 466 mn 8 77% 8.5 Trident Grand - Retail Building 24 The Loft LoftOffices O ffices 1 2 3 Office Park Indigo 7 GWAD J ebel Ali School Index
Slide 7: Education
Education Jebel Ali School Asset Split Location Akoya – Sport City Type Freehold Income Characteristics Acquired Freehold Land Plot (USD 26.8m) Total Investment USD 56.7m (estimate) Lease to school operator at 10.1% Net Yield IRR in excess of 11% Immediate Valuation Gain of USD 1.6m Leas
Slide 8: Jebel Ali School Construction Site
Jebel Ali School Construction Site
Slide 9: Index Tower
Index Tower Grade A property, Foster+Partners design, Energy Efficient Tallest building in the DIFC Largest Property in the portfolio Emirates REIT owns 2/3 of the office floors, all the retail and 1426 car parks Largest space owned by single investor in DIFC
Slide 10: Index Tower – Shell and Core Floor
Index Tower – Shell and Core Floor (1/3 of a floor is shown here)
Slide 11: Index Tower - Fitted and Furnished Offices
Index Tower - Fitted and Furnished Offices – 120m2 to 150 m2
Slide 12: Index Tower – Level 5 – Small Offices Center Reception
Index Tower – Level 5 – Small Offices Center Reception – 50m2
Slide 13: Portfolio Overview (as at 30 November 2015)
Portfolio Overview (as at 30 November 2015) Solid Tenant Structure
Slide 14: Portfolio Overview (as at 30 November 2015)
Portfolio Overview (as at 30 November 2015) Occupancy per property
Slide 15: Portfolio Overview (as at 30 November 2015)
Portfolio Overview (as at 30 November 2015) Annualized Rent Contribution
Slide 16: Valuations Movement (January to September 2015)
Valuations Movement (January to September 2015)
Slide 17: Notable Events
Notable Events Q1 2015 Q2 2015 Q3 2015 Q4 2015 31 January 30 June 03 August 25 October 06 December Dividend Dividend Acquisition CPI Awards New Borrowing Distribution Distribution Jebel Ali School USD 0.04 per share USD 0.04 per share Best Islamic Fund AED 400m with ADCB Best Islamic Real Estate Fin
Slide 18: Q3 2015 Financial Highlights
Q3 2015 FINANCIAL HIGHLIGHTS
Slide 19: Q3 2015 – Financial Highlights – Income Statement
Q3 2015 – Financial Highlights – Income Statement Q3 Q3 9M 9M USD million 2015 2014 Change 2015 2014 Change Amount % Amount % Property income 10.7 9.6 1.1 11.5% 29.8 27.3 2.5 9.2% Net rental income 7.3 6.2 1.1 17.7% 20.5 20.1 0.4 2.0% Net property income 16.0 11.7 4.3 36.8% 60.7 53.7 7.0 13.0% Opera
Slide 20: Q3 2015 – Financial Highlights – Balance Sheet
Q3 2015 – Financial Highlights – Balance Sheet USD million 30-Sep-15 31-Dec-14 Change amount % Investment property 657.4 575.3 82.1 14.3% Total assets 677.9 594.1 83.8 14.1% Equity 454.1 432.0 22.1 5.1% Liabilities 223.8 162.1 61.7 38.1% NAV per share in USD 1.52 1.44 0.08 5.6% incl. dividends 1.60
Slide 21: Key Numbers (As at 30 November 2015)
Net Asset Value 1.5559 USD/share Key Numbers (As at 30 November 2015) Portfolio Value USD 670 mn / AED 2.5 bn Net Asset Value Balance Sheet NAV per Share is calculated by the REIT administrator. Growth rates are adjusted for dividends and annualized. For 2011, 2012 and 2013, the NAV per Share was ca
Slide 22: Resolutions
RESOLUTIONS Resolution 1- Interim Dividends Distribution Resolution 2 - Investment Board – Reappointment of members Resolution 3 - Shari'a Supervisory Board Re-appointment of two members and appointment of a new member
Slide 23: Resolution 1 – Interim Dividend Distribution
Resolution 1 – Interim Dividend Distribution To approve the declaration of an interim dividend of USD 0.04 per ordinary share for financial year ending 31 December 2015, such dividend to be paid on or before 31 January 2016 to shareholders on the register at 2:00 pm on 11 January 2016. Proxy Status
Slide 24: Resolution 2 – Investment Board
Resolution 2 – Investment Board To extend the appointment of Mr Abdullah Al Hashemi, Mr Marwan bin Ghulaita, and Mr David Savy, each an existing member of the Investment Board, with such appointments to terminate on 31 January 2017. Proxy Status Shares voted Vote Cast For 82,250,620 61.63 % Against
Slide 25: Resolution 3 – Shari'a Supervisory Board
Resolution 3 – Shari'a Supervisory Board Fazal Rahim Shari'a Controller and Auditor with 20+ years of experience of local and GCC banks; Certified Shari'a Adviser and Auditor by AAOIFI, Bahrain; AAOIFIا Excellent analytical skills and systematic approach in handling Shari'a audit, review & c
Slide 26: Resolution 3 – Shari'a Supervisory Board
Resolution 3 – Shari'a Supervisory Board To extend the appointment of Dr Mohamed Abdul Hakim Zoeir and Mr Mian Muhammad Nazir, each an existing member of the Shari'a Supervisory Board, with such appointments to terminate on 31 January 2017. To appoint a new member, as specified by the Chairman at th
Slide 27: Thank You
THANK YOU For further information : www.reit.ae For all inquiries and questions concerning investor relations, please contact: Magali Mouquet ir@reit.ae +971 4 405 7348
Slide 28: Appendix
APPENDIX
Slide 29: Shareholders Structure and Foreign Ownership
Shareholders Structure and Foreign Ownership Foreign Ownership & Share Price Shareholders Structure Foreign Ownership Share Price
Slide 30: Management Strategy
Management Strategy Occupancy Annualized Rent Valuations Key Points Acquisition Active Management Carefully Selected Assets Improve Quality of Asset Balanced Asset Profile Improve Tenant Mix Secured Minimum Dividend Long Term Strategy of Asset Management
Slide 31: Education
Education Numbers as at 30 June 2015 GEMS World Academy Dubai Asset Split Location Al Barsha South Shares of Total Portfolio Type Leasehold Income Characteristics Flagship school in Dubai 14.0% 28.2% 22.1% Valuation NLA Income Sole Tenant Jebel Ali School Asset Split Location Akoya – Sport City Type
Slide 32: Commercial
Commercial Numbers as at 30 June 2015 Office Park Asset Split Location Knowledge Village Shares of Total Portfolio Type Freehold Income Characteristics 5 interconnected buildings / Large Floor-plates 26.1% 22.7% 42.4% Valuation NLA Income Key Tenants Large Corporates The Loft Offices Asset Split S
Slide 33: Commercial
Commercial Numbers as at 30 June 2015 Building 24 Asset Split Location Internet City Shares of Total Portfolio Type Freehold Income Characteristics Low rise well located building 3.1% 3.5% 6.9% Valuation NLA Income Key Tenants Small to medium Puma size companies Equiant DIB Indigo 7 Asset Split Sh
Slide 34: Commercial
Commercial Numbers as at 30 June 2015 Le Grande Community Mall Asset Split Location Dubai Marina / JBR Shares of Total Portfolio Type Freehold Income Characteristics Community Mall located at the entrance of JBR 5.1% 5.8% 6.9% Valuation NLA Income Key Tenants Community Shops Anchor tenants Index
Slide 35: Acquisition Strategy
Acquisition Strategy Current Pipeline Local expertise, relationship networks, and market coverage provide numerous channels for deal sourcing An extensive acquisition pipeline exists for the REIT today: Short-listed properties as being potentially attractive acquisitions Signed letters of in
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