Dubai Holding, through DHAM REIT Management LLC, has officially launched the initial public offering of Dubai Residential REIT on the Dubai Financial Market (DFM), marking a significant milestone in the region’s real estate investment sector.
The offer price range has been set between AED1.07 and AED1.10 per unit, with a total of 1.625 billion units—representing 12.5% of the REIT’s issued capital—available for subscription. The IPO is expected to raise between AED1.739 billion (US$473 million) and AED1.788 billion (US$487 million), implying a market capitalisation of up to AED14.3 billion (US$3.9 billion) at listing.
The subscription period begins today, 13 May 2025, and will close on 20 May 2025. The final offer price will be determined through a book-building process and announced on 21 May. Admission to trading on the DFM is anticipated on or around 28 May under the symbol “DUBAIRESI”.
The IPO is split into two tranches: 10% allocated to UAE retail investors with guaranteed minimum allocations of 2,000 units, and 90% reserved for qualified institutional investors outside the United States.
Dubai Residential REIT will be the GCC’s first pure-play listed residential leasing REIT and is poised to become the region’s largest listed REIT by asset value. At launch, it will manage 35,700 residential units across strategic locations in Dubai, with a gross asset value of AED21.63 billion.
Subject to board approval, the REIT plans to distribute dividends semi-annually, with the first payout expected in September 2025.
News Source: Emirates News Agency
