Dubai Residential REIT sustains gains a week after listing
3 June 2025 18:59
A. SREENIVASA REDDY (ABU DHABI)Shares of Dubai Residential REIT held steady at Dh1.24, nearly 13% above the listing price of Dh1.10, a week after the stock debuted on the Dubai Financial Market (DFM) on May 28.Dubai Residential REIT is the second IPO in the UAE this year and the first on the DFM in 2025. The share price remained consistently above the offer price throughout the week, underscoring the resilience of both the stock and the broader market.The REIT is the GCC's first listed pure-play residential leasing-focused real estate investment trust, and the largest listed REIT in the region, managing 35,700 residential units. The initial public offering raised Dh2.145 billion and was oversubscribed 26 times.Dubai Residential REIT debuted on the DFM with a market capitalisation of Dh14.3 billion. By the close of trading on Tuesday, its market cap had risen to Dh16.1 billion — a Dh2 billion increase in shareholder value within a week.At the Abu Dhabi Securities Exchange, the benchmark FADGI index rose 0.461%, snapping a two-day losing streak. The financial sector led the gains, with Abu Dhabi Islamic Bank climbing 2.6% and First Abu Dhabi Bank advancing 1.53%.
Meanwhile, the DFM General Index (DFMGI) gained 0.677%, marking a second straight session of gains. Market sentiment in Dubai remains upbeat despite ongoing global market volatility.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
17 hours ago
- Al Etihad
UAE stock markets consolidate ahead of 4-day Eid-break
4 June 2025 22:07 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets consolidated gains on Wednesday ahead of the upcoming four-day Eid Al Adha Abu Dhabi Securities Exchange (ADX) recorded its second consecutive session of gains, with its general index (FADGI) rising by 0.449% to close at 9,734.99. A total of 25,971 trades were executed, involving 373 million shares with a combined value of Dh1.443 total market capitalisation of all companies listed on the ADX stood at Dh3.003 trillion, a milestone it had crossed earlier this week for the second Dhabi Islamic Bank led the rally with a 2.43% gain, followed by First Abu Dhabi Bank with a 2.13% rise and ADNOC Gas with a 0.92% top gainers on the ADX included E7W Warrants (+14.92%), Fujairah Cement (+14.88%), and Abu Dhabi Ship Building (+13.47%). Notable decliners were National Bank of Fujairah (-9.52%), Eshraq Investments (-4.42%), and Finance House (-4.35%).Shares of Abu Dhabi Ship Building surged after it secured a Dh7 billion contract from its shareholder EDGE Group for the supply of missile boats to the Kuwait Naval Forces. DFMThe Dubai Financial Market's general index (DFMGI) rose by 0.255% to close at 5,535.93 points. The index has posted annual gains every year since 2021, climbing 27% last year and up 7% so far in 2025. A total of 18,583 trades were executed on the DFM, involving 389 million shares with a combined value of Dh930 million. Share prices of 20 companies rose, 24 declined, and 10 remained the top gainers were Amlak Finance (+14.58%), Dubai Refreshment (+13.07%), and Dubai Financial Market (+5.96). On the losing side, Al Mazaya Holding fell by 7.14%, followed by National Cement (-2.70%), Emaar Development (-2.62%), and Tabreed (-2.53%). Amlak Finance drove the day's performance on the DFM, emerging as the most actively traded stock in terms of both value and volume. Source: Aletihad - Abu Dhabi
Al Etihad
a day ago
- Al Etihad
UAE's non-oil economy firmly in expansion mode as May PMI stands at 53.3
4 June 2025 09:32 REDDY (ABU DHABI)The UAE's non-oil private sector remained in solid expansion mode in May, with the seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) registering 53.3, slightly lower than 54.0 in April but well above the neutral 50.0 mark that separates growth from is a key economic indicator measuring business activity in the manufacturing and services sectors. A reading above 50 signals expansion, while below 50 indicates contraction.'Data continued to signal a solid improvement in the performance of the non-oil private sector economy. Demand conditions remained strong, supporting a marked increase in output, although the rate of growth trended down from its recent bullish run,' the S&P Global report reported a continued rise in new orders in May. While the pace of growth eased from the previous month, it remained robust. This upturn was attributed to favourable demand conditions, strong client relationships, new marketing strategies, and diverse product offerings.'From an overall perspective, the survey signals that the UAE economy is performing well. The survey data backs up the trend of falling inflationary pressures, as businesses saw input costs rise at their slowest rate since the end of 2023,' said David Owen, Senior Economist at S&P Global Market report said that companies increased their output and the expansion was sharp. According to survey members, higher sales often translated into greater activity, although some reported that global economic uncertainty linked to US tariffs had negatively affected levels dropped in May, as businesses scaled back purchasing due to strong stock levels and supply constraints. Employment growth, meanwhile, hit its highest level in a year, with firms citing increased workloads and rising backlogs of cost inflation eased to its slowest pace in nearly 18 months. While some firms saw higher raw material and transport costs, only 5% of respondents reported an increase from prices rose marginally, reflecting modest efforts to pass on cost increases, partially offset by discounts. Dubai PMI Dubai's PMI stood at 52.9 in May, reflecting a solid improvement in operating conditions in the non-oil private sector.'Businesses continued to receive higher levels of new orders, with the rate of growth ticking up to a four-month high,' the report said, attributing the trend to improved client confidence, marketing strategies, and competitive pricing. While overall business activity rose sharply, the pace of growth softened. Purchase stocks declined for the first time in 2025, contributing to the weakest rate of input cost inflation in 17 months.
Al Etihad
2 days ago
- Al Etihad
Dubai Residential REIT sustains gains a week after listing
3 June 2025 18:59 A. SREENIVASA REDDY (ABU DHABI)Shares of Dubai Residential REIT held steady at Dh1.24, nearly 13% above the listing price of Dh1.10, a week after the stock debuted on the Dubai Financial Market (DFM) on May Residential REIT is the second IPO in the UAE this year and the first on the DFM in 2025. The share price remained consistently above the offer price throughout the week, underscoring the resilience of both the stock and the broader REIT is the GCC's first listed pure-play residential leasing-focused real estate investment trust, and the largest listed REIT in the region, managing 35,700 residential units. The initial public offering raised Dh2.145 billion and was oversubscribed 26 Residential REIT debuted on the DFM with a market capitalisation of Dh14.3 billion. By the close of trading on Tuesday, its market cap had risen to Dh16.1 billion — a Dh2 billion increase in shareholder value within a the Abu Dhabi Securities Exchange, the benchmark FADGI index rose 0.461%, snapping a two-day losing streak. The financial sector led the gains, with Abu Dhabi Islamic Bank climbing 2.6% and First Abu Dhabi Bank advancing 1.53%. Meanwhile, the DFM General Index (DFMGI) gained 0.677%, marking a second straight session of gains. Market sentiment in Dubai remains upbeat despite ongoing global market volatility.
