EREF acquires Binghatti Terraces

Emirates Real Estate Fund (EREF) on Monday has announced the acquisition of a residential building in Dubai’s Silicon Oasis. The residential building Binghatti Terraces is a 10-floor property completed in July 2016 with a current gross annual rental income of Dhs14.5m. It comprises five retail and 201 residential units, including one-, two- and three-bedroom apartments, with facilities including a swimming pool, gym and landscaped gardens. In addition, the value of the deal was not disclosed.