Latest news with #DubaiResidentialReit
Khaleej Times
3 days ago
- Business
- Khaleej Times
Dubai Residential Reit gains 13.64% on market debut
Dubai Residential Reit on Wednesday rose 13.64 per cent at the close of trade after its listing on the Dubai Financial Market (DFM). The Shariah-compliant income-generating closed-ended real estate investment fund and one of the largest owners and operators of residential real estate in Dubai, listed at Dh1.1 per share, opening trading at Dh1.21, rising to as high as Dh1.31 before paring gains to close the day at Dh1.25. It hit a low of Dh1.20 during the day's trading. The listing marks a significant milestone for Dubai's capital markets, introducing the GCC's first listed pure-play residential leasing focused Reit and the region's largest listed Reit with 35,700 residential units under management. It also represents the first Reit to list under the UAE's updated regulatory framework and the first listing on the DFM in 2025, underscoring Dubai's position as a leading hub for diversified investment opportunities. The initial public offering (IPO) of Dubai Residential Reit raised Dh2.145 billion ($584 million), with overwhelming interest from local, regional, and international investors, reflecting strong confidence in Dubai's mature residential real estate market. The offering of 1.95 billion units was fully subscribed within minutes of the book opening, resulting in a final offer price set at the top of the indicated range, Dh1.10 per offer unit. Dubai Residential Reit debuted with a market capitalisation of Dh14.3 billion and a projected gross dividend yield of 7.7 per cent for 2025. In response to exceptional demand, DHAM Reit Management, the fund manager increased the size of the offering from 12.5 per cent to 15.0 per cent of the company's total issued unit capital. The total gross demand surpassed Dh56 billion, resulting in the issue being oversubscribed 26 times at the final offer price. Following the listing, DHAM Investments, the selling unitholder, a subsidiary of Dubai Holding, retains a majority stake of 85 per cent in Dubai Residential Reit. To mark the listing, Malek Al Malek, group chief executive officer of Dubai Holding Asset Management and chairman of the investment committee of DHAM Reit Management LLC, and Nabil Ramadhan, chief strategy and marketing officer at Dubai Holding Asset Management and Chairman of the Board of Dubai Residential Reit, rang the market-opening bell at DFM, accompanied by Helal Al Marri, Chairman of the DFM Board of Directors, Hamed Ali, Chief Executive Officer of DFM and Nasdaq Dubai, along with Amit Kaushal, Group Chief Executive Officer of Dubai Holding and Omar Karim, Group Chief Investment Officer of Dubai Holding. Al Marri said: 'The successful debut of Dubai Residential Reit on DFM exemplifies our broader efforts to expand access to asset classes that reflect the economic ambitions of Dubai. It speaks to the continued evolution of our capital markets and the strength of investor confidence in our vision. We remain committed to deepening market sophistication and unlocking diversified, Sharia-compliant investment pathways.' Amit Kaushal said: 'The successful listing of Dubai Residential Reit on DFM is a significant milestone, not only for Dubai Holding but for the continued evolution of the Emirate's capital markets. This achievement reflects our long-standing commitment to unlocking value from strategic assets, supporting the UAE's vision for economic diversification and advancing Dubai's position as a leading global hub for investment. We are proud to contribute to shaping the future of real estate investment through innovation, scale and institutional excellence.' Hamed Ali added: 'The listing of Dubai Residential Reit on DFM marks a pivotal moment in our ongoing efforts to diversify investment opportunities and enhance market depth. This successful IPO not only reflects the strength of Dubai's real estate sector but is a testament to the trust placed in Dubai's regulatory infrastructure and our ability to deliver efficient, accessible, and forward-looking capital markets.' Al Malek said: 'We are proud to bring this opportunity to a wider investor base and look forward to delivering consistent value to unitholders while contributing to Dubai's ambition for dynamic, transparent capital markets.' This momentum further reinforces DFM's status as a dynamic and resilient capital markets platform. As of the date of this announcement, the total market capitalisation of companies listed on DFM reached Dh962.7 billion, with the exchange achieving its highest Average Daily Trading Value (ADTV) in more than a decade, representing a 58 per cent increase over last year.
Business Times
05-05-2025
- Business
- Business Times
Dubai Holding kicks off residential Reit IPO in first Dubai listing this year
[DUBAI] Dubai Holding, an investment conglomerate owned by the emirate's ruler, said on Monday (May 5) it plans to list a 12.5 per cent stake in a residential leasing-focused real-estate investment trust (Reit) in the first initial public offering of the year in Dubai. The company plans to offer 1.63 billion units in Dubai Residential Reit, which manages 35,700 residential units across different segments, including some of its most iconic communities like City Walk and Bluewaters. Dubai's property market has rebounded sharply since the Covid-19 pandemic, fuelled by an influx of foreign investors, government residency reforms, and a surge in demand for luxury housing from wealthy expatriates. The region's business and tourism hub has also consolidated major state-owned real estate developers and listed more government entities on the stock exchange, as part of a broader push to deepen capital markets and diversify its economy. Dubai Residential Reit is expected to be the Gulf Cooperation Council (GCC) region's largest listed Reit, with a gross asset value (GAV) of US$5.89 billion, Dubai Holding said in a statement. The listing would also be Dubai's first IPO flotation since Talabat in December, and the second in the United Arab Emirates (UAE) this year, after Alpha Data. The subscription period for the IPO is expected to run from May 13 to 20, with trading on the Dubai Financial Market (DFM) to start on or around May 28. DHAM Investments, which is the selling unitholder, and a subsidiary of Dubai Holding, will receive all the proceeds from the offering, according to the statement. Citi, Emirates NBD and Morgan Stanley are joint global coordinators and joint bookrunners for the IPO. REUTERS
The National
05-05-2025
- Business
- The National
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.'
