3 days ago
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.
