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ENBD REIT pays $76M for office building in Dubai Internet City

ENBD REIT (CEIC) Ltd. bought The Edge grade A office building in Dubai Internet City from SWEID & SWEID for $76.2 million, Arabian Business reported.

The seven-story building houses Oracle, Snapchat and publisher McGraw Hill. ENBD REIT, which listed on Nasdaq Dubai in March, used its existing Islamic debt facility to fund the purchase, the Oct. 8 report noted.

The real estate investment trust's property portfolio is valued at $447 million.