A Nasdaq Dubai-listed real estate investment trust (Reit) managed by Emirates NBD Asset Management has announced a number of additions to its board of directors.
ENBD Reit has appointed Ali Rashid Humaid Al Mazroei following his nomination from one of the fund’s largest investors, National Bonds Corporation. He replaces David Marshall who resigned from the board in December 2018
Also appointed to the board was Khalid Al Faheem, a member of ENBD Reit’s investment committee since its 2017 listing.
The new directors join incumbent chairman, Tariq Bin Hendi, and long-serving ENBD Reit executive, Mark Creasey.
The appointments mean that the board’s membership is now 75% Emirati, something which ENBD believes is a sign of the growing maturity of the business and the Reit as an asset class in the UAE.
©2019 funds global mena