Dubai’s financial regulator has fined the manager of Emirates Reit, the United Arab Emirates’ largest sharia-compliant real estate investment trust, $210,000 for “misleading statements”.
The Dubai Financial Services Authority said Equitativa failed to take reasonable steps to report relevant information to the auditor. The regulator also said it had identified concerns about its valuation practices.
Emirates Reit, which cancelled a proposed restructuring of a $400m sukuk, or…
