Dubai Holding to list its residential Reit on DFM
Dubai Holding, a diversified global investment company, is listing its Dubai Residential Reit, a sharia compliant income generating real estate investment trust on the Dubai bourse, amid a continued boom in the emirate's property market.
Dham Reit Management, a wholly owned subsidiary of Dubai Holding, is offering 1.625 billion units to investors in an initial public offering on the Dubai Financial Market, the company said in a statement on Monday.
The IPO subscription period is set to run from May 13 to May 20, with the Reit expected to begin trading on the bourse around May 28.
'The decision to launch the IPO of Dubai Residential Reit marks a natural evolution in our story, offering investors a unique opportunity to participate in the GCC's largest and first pure-play listed residential leasing-focused Reit,' Malek Al Malek, group chief executive of Dubai Holding Asset Management and chairman of the investment committee of Dham Reit Management, said.
'With a diversified portfolio valued at over Dh21 billion, this milestone enables us to expand our impact, deliver sustainable unit holder returns, and continue shaping the future of urban living in Dubai.'
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