Dubai Holding Increases DHAM REIT IPO Size as Investor Demand Surges
Dubai Holding's real estate investment trust, DHAM REIT, has increased the size of its initial public offering (IPO) to 1.95 billion units, up from the previously announced 1.625 billion, following strong demand from both local and international investors.
The adjustment means 15 percent of the REIT's issued unit capital will now be floated, instead of the initially planned 12.5 percent. DHAM REIT Management, a subsidiary of Dubai Holding, confirmed the revised offer on Monday.
The offering, priced between AED 1.07 and AED 1.10 per unit, is now expected to raise between AED 2.087 billion and AED 2.145 billion. This implies a market capitalisation at listing of approximately AED 13.9 billion to AED 14.3 billion.
Upon listing on the Dubai Financial Market (DFM), DHAM Investments will retain an 85 percent stake in the REIT. The listing is expected to take place on or around May 28.
The IPO remains split into two tranches. The first tranche, reserved for UAE retail investors, is unchanged at 162.5 million units. It is open to individuals and eligible entities holding a National Investor Number (NIN) with the DFM. Each subscriber will be guaranteed a minimum allocation of 2,000 units, subject to availability and the terms outlined in the prospectus.
The second tranche, open to qualified institutional investors, has been increased from 1.462 billion to 1.787 billion units.
Subscriptions for both tranches began on May 13 and will close on May 20. The final offer price will be determined through a book-building process in coordination with the joint global coordinators and will be announced on May 21.
DHAM REIT also announced plans to implement a semi-annual dividend distribution policy, with payments scheduled for April and September. The first dividend is expected to be distributed in September 2025, followed by another in April 2026.
The IPO is being managed by a consortium of prominent financial institutions. Citigroup Global Markets Limited, Emirates NBD Capital, and Morgan Stanley & Co. International are acting as joint global coordinators and joint bookrunners. Emirates NBD Bank is the lead receiving bank, while Abu Dhabi Commercial Bank, Arqaam Capital (with Arqaam Securities), and First Abu Dhabi Bank are also serving as joint bookrunners.
News Source: Khaleej Times
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Dubai Eye
9 hours ago
- Dubai Eye
Dubai Police recognised as world's strongest police brand
Dubai Police has officially been ranked the strongest police brand in the world, topping the Institutional Brand Value Index issued by Brand Finance. The force earned a top-tier AAA+ rating and an overall score of 9.2 out of 10, following an international study involving more than 8,000 stakeholders across 10 countries. The assessment praised Dubai Police for outstanding performance in areas including ethics, innovation, operational efficiency, transparency and public trust — outperforming other global police forces across all eleven reputation benchmarks. Highlights of the evaluation include: 67% recognition for safety and security assurance, 64% for effective duty performance, 60% for commitment and integrity, and strong public engagement through social media and transparency. The force also stood out for its use of technology in crime prevention and its modern, forward-thinking approach to law enforcement. According to Brand Finance, Dubai Police contributes a brand value of AED 57.9 billion to the UAE's overall national brand, which now stands at over AED 4.48 trillion. The report positions Dubai Police as more than just a top-tier security agency — it's now a key part of the UAE's global soft power, setting a new international benchmark for policing excellence.
TAG 91.1
10 hours ago
- TAG 91.1
Dubai Police recognised as world's strongest police brand
Dubai Police has officially been ranked the strongest police brand in the world, topping the Institutional Brand Value Index issued by Brand Finance. The force earned a top-tier AAA+ rating and an overall score of 9.2 out of 10, following an international study involving more than 8,000 stakeholders across 10 countries. The assessment praised Dubai Police for outstanding performance in areas including ethics, innovation, operational efficiency, transparency and public trust — outperforming other global police forces across all eleven reputation benchmarks. Highlights of the evaluation include: 67% recognition for safety and security assurance, 64% for effective duty performance, 60% for commitment and integrity, and strong public engagement through social media and transparency. The force also stood out for its use of technology in crime prevention and its modern, forward-thinking approach to law enforcement. According to Brand Finance, Dubai Police contributes a brand value of AED 57.9 billion to the UAE's overall national brand, which now stands at over AED 4.48 trillion. The report positions Dubai Police as more than just a top-tier security agency — it's now a key part of the UAE's global soft power, setting a new international benchmark for policing excellence.
Arabian Business
11 hours ago
- Arabian Business
Meraas announces Jumeirah Residences Emirates Towers Dubai branded real estate project with 754 homes
One of Dubai's most iconic addresses is set for a major overhaul with the launch of an Emirates Towers branded real estate project. Meraas, a member of Dubai Holding Real Estate, has announced the launch of Jumeirah Residences Emirates Towers, a bold new addition to Dubai's iconic skyline. Designed by acclaimed SCDA Architects, the development introduces a distinctive cantilevered architectural form and features 754 branded residences, ranging from one-to-four-bedroom layouts, set across two distinctive towers. Jumeirah Residences Emirates Towers in Dubai The towers offer views of the Museum of the Future and Downtown Dubai, with each residence crafted to ensure complete privacy. A private entrance beneath the striking cantilever leads to a grand double-height lobby, serene garden courtyard and lounge. The development's three exclusive sky terraces feature infinity-edge pools, landscaped lounges and open-air entertainment spaces, enhancing the towers' allure. Residents will enjoy access to a range of lifestyle and wellness amenities, including: State-of-the-art fitness centre with dedicated studios Executive co-working lounge Private cinema Resort-style family pool Padel courts Children's play zone Social and dining venues Khalid Al Malik, CEO of Dubai Holding Real Estate, said: 'Jumeirah Residences Emirates Towers represents the evolution of Dubai's luxury living landscape, where world-class design meets unparalleled hospitality. 'By integrating Jumeirah's legendary service standards with innovative architectural design, we are setting new benchmarks for premium residential offerings that reflect Dubai's position as a global destination of choice. 'This project reaffirms Meraas ' dedication to creating contemporary spaces that perfectly balance purposeful living with sophisticated comfort.' Residents will benefit from Jumeirah's luxury hospitality services, including access to bespoke wellness treatments, personal fitness coaching, 24-hour concierge services and vehicle management. Residents can also enjoy access to private chefs for exceptional dining experiences, supported by a dedicated team to deliver seamlessly executed events. Thomas B. Meier, CEO of Jumeirah, said: 'Jumeirah Residences Emirates Towers marks the next chapter in our growth journey, showcasing the future of the Jumeirah brand through intentional design, mindful living and holistic wellbeing. 'With a growing focus on branded residences designed to elevate and inspire living well every day, this development reinforces our leadership in luxury hospitality, rooted in the spirit of Arabian hospitality.' Occupying a coveted central location, Jumeirah Residences Emirates Towers is surrounded by prestigious destinations, including: Museum of the Future DIFC One Central Jumeirah Emirates Towers
