ENBD REIT, the Shari’a-compliant real estate investment trust managed by Emirates NBD Asset Management, acquired a seven-story building in Dubai Internet City, Invest-Gate reports.

The investment trust acquired the Edge office building from Dubai-based developer Sweid & Sweid at a transaction value of AED 280 mn.

The 92,000 square foot office building is a home to global tech outfit Oracle and social media giant Snapchat.

The building boasts 233 parking bays distributed over the ground floor and three levels of basement parking.