ENBD REIT appoints new head of real estate

L-R: Tim Rose and Anthony Taylor.

ENBD REIT (CEIC) Limited has announced the appointment of Anthony Taylor as head of real estate.

This follows the news that Tim Rose will be stepping down from his role after seven years. Rose joined the company in 2011, during which time the fund consistently delivered positive returns, culminating in ENBD REIT’s IPO in March 2017.

Taylor has been a fund manager within the real estate team and Rose’s deputy since 2013, when he joined the firm.

As Emirates NBD Asset Management’s head of Real Estate, Taylor will work on mitigating risk in the portfolio by securing income from longer term leases and diversifying holdings across real estate sectors while maintaining an efficient cost structure.

Tariq Bin Hendi, chairman of ENBD REIT, said: “We are sorry to see Tim leave after seven successful years as Head of Real Estate, and wish him the very best for the next chapter of his career in his home country of New Zealand.

“During his tenure, ENBD REIT delivered strong and positive returns to investors. Tim played a crucial part in repositioning the portfolio through a series of strategic disposals and acquisitions, which facilitated ENBD REIT’s successful listing on Nasdaq Dubai in 2017.”

Taylor’s longer-term vision for ENBD REIT is to continue to grow its equity, with a target of becoming a $1bn REIT in the coming years.

The short-term focus for ENBD REIT in 2018 is to enhance shareholder returns, through further portfolio acquisitions, reaching an optimal Loan-to-Value (LTV) ratio of 45%, while continuing to improve and maintain occupancy rates across properties