Equitativa Real Estate Limited (Equitativa), the parent company of Emirates REIT Management Limited, has announced that it was granted an exclusive Emiri decree, allowing current and future REITs and other collective investment funds that it is managing to invest in Ras Al-Khaimah. The Decree is subject to a number of conditions, including that at least 51% of the shares of the REIT shall, at all times, remain owned by UAE or other GCC nationals. Emirates REIT (EREIT) gets the full benefit of this Decree, according to management. The news is viewed positively for EREIT as it widens the pool of potential real estate investment. We note that Equitativa is currently finalising the closure of its first investment in Ras Al-Khaimah, which remains unclear whether it will be under REIT. (Company disclosure)   Emirates REIT (DU): USD1.11 as of 11 October 2016, Rating: Neutral, FV: USD1.24 per share, MCap: USD333mn, REIT DU / REIT.DI