Dubai Residential REIT posted solid first-quarter results for 2026, with revenue climbing 8.4% year-on-year, driven by sustained rental demand, near-full occupancy and continued growth across its diversified residential portfolio.
The Shariah-compliant, closed-ended real estate investment trust maintained a portfolio occupancy rate of 98.9% for the three months ended 31 March 2026, up 1.0% from the same period last year. Tenant retention held at 98.0%, while average revenue per leased gross leasable area rose 7.4% year-on-year, reflecting the trust's ability to capture value across its communities. Gross Asset Value stood at approximately AED 23.8 billion as of quarter-end, incorporating 56 newly added villas under the Garden View Villas development.
Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, attributed the performance to disciplined asset management and the underlying strength of Dubai's residential market.
"Through proactive leasing across the portfolio, we have maintained stable occupancy levels, strong tenant retention and continued rental growth,"
he said.
Dubai's broader residential market provided a supportive backdrop during the quarter. The general rental index rose 4.1% year-on-year, while residential transactions reached AED 134.8 billion across 44,378 deals, up 19.0% in value and 4.2% in volume.
Looking ahead, the REIT expects the upcoming completion of Jebel Ali Village in Q2 2026 to add 220 units to its portfolio. Combined with Garden View Villas, the two projects are projected to generate between AED 70 million and AED 80 million in additional revenue upon stabilisation. The trust is also evaluating further opportunities within Dubai Holding's pipeline, including developments in Lantana Hills, The Acres in Dubailand and Dubai Wharf.
News Source: Dubai Media Office
