Equitativa, the largest REIT (real estate investment trust) manager in the GCC, said it has appointed Al Ramz Capital, a leading financial services firm based in Abu Dhabi, as the liquidity provider for its shari'a-compliant Emirates REIT.

Equitativa is the manager of Emirates REIT (CEIC), the first regulated shari'a-compliant real estate investment trust in the UAE which has been listed on Nasdaq Dubai.

The move is aimed at helping improve the liquidity for Emirates REIT shares which in turn would enhance the daily volumes, benefiting investors. This reduces volatility and tightens trading spreads making the shares more attractive to institutional and retail investors, said the statement from Equitativa.

As per the deal, Al Ramz Capital will be providing pricing for the purchase and sale of REIT shares to increase the liquidity following regulations set out by the DFSA (Dubai Financial Services Authority), SCA (Securities and Commodities Authority) and Nasdaq Dubai.

Equitativa, meanwhile, has announced plans to distribute its first 2018 interim dividend payments for the six-month period ended June 30, 2018 worth $11.98 million, thus representing an annualised dividend yield of 8.6 per cent.

This dividend, to be paid on or before January 31, 2019, is the first one related to the financial year 2018 (FY2018), said Equitativa, adding that it will continue to distribute dividends to shareholders of the REIT twice a year.

To be entitled to receive the dividend, shareholders must own the shares and be on the register at market close on January 23, 2019.

Emirates REIT’s net asset value as of November was put at $531 million ($1.77 per share).

On the dividends, Equitativa Group Chairman Sylvain Vieujot said: "Today’s announcement demonstrates our ability to deliver once again a stable dividend."

"The bi-annual dividend distribution and the new agreement with Al Ramz Capital LLC as a liquidity provider aims to increase liquidity for Emirates REIT shareholders and strengthen the position of Emirates REIT as the leading Shariah compliant REIT," he added.-TradeArabia News Service