(MENAFN) Dubai-based Emirates Reit posted an increase of 39 percent in 2014 net profit to reach USD48.56 from USD34.85 million in the previous year due to increased rental income, Emirates 24/7 reported.
Its net profit, excluding revaluation gains and IPO costs, was up 43.9 percent to USD11.89 million as compared to USD8.26 million in 2013, the Islamic real estate investment trust showed.
Total assets grew 78.3 percent to USD594.15 million from USD333.21 million in 2013.
The net asset value per share increased to reach USD1.44 from USD1.35 per share as at December 31, 2013.
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