Latest news with #MalekAlMalek
Al Etihad
21-05-2025
- Business
- Al Etihad
Dubai Residential REIT IPO oversubscribed 26 times, final price set at Dh1.10
21 May 2025 13:11 REDDY (ABU DHABI)The initial public offering (IPO) of Dubai Residential REIT has attracted overwhelming investor interest, being oversubscribed 26 times with a gross demand of Dh56 billion ($15 billion). The final offer price has been set at Dh1.10 per unit, implying a market capitalisation of Dh14.3 billion ($3.9 billion) upon listing, making it the largest listed REIT in the by strong investor appetite across local, regional, and international markets, the offering size was increased from 12.5% to 15.0% of the REIT's issued unit capital. The IPO will raise Dh2.145 billion ($584 million) for the selling unitholder, DHAM Investments, a subsidiary of Dubai Kaushal, Group CEO of Dubai Holding, described the response as 'a powerful endorsement of Dubai Holding's strategic vision and the strength of our residential leasing portfolio.' He added: 'This investor confidence speaks not only to the resilience of the UAE's economic vision and Dubai's long-term growth trajectory, but also highlights the increasing depth, maturity and global appeal of its capital markets.'The REIT, managed by DHAM REIT Management, will list on the Dubai Financial Market (DFM) on or around May 28 under the ticker "DUBAIRESI". Retail investors will receive allocation confirmations by May 26, with refunds starting the same portfolio includes 35,700 residential units across 21 integrated communities, serving over 140,000 residents. Malek Al Malek, Group CEO of Dubai Holding Asset Management and Chairman of DHAM REIT's Investment Committee, noted: 'The strong investor demand clearly signals a growing appetite for stable, income-generating assets in Dubai's vibrant and mature real estate sector. Dubai Residential REIT is firmly positioned as the benchmark for residential leasing in the city.'The REIT intends to adopt a semi-annual dividend distribution policy, beginning September 2025. The total of the first two dividend payments is expected to be the higher of Dh1.1 billion or 80% of profit before revaluation gains for FY2025. From FY2026 onwards, at least 80% of such profit will be distributed, subject to board near-full occupancy and high retention rates, the REIT's portfolio spans a mix of family-focused and premium residential communities including Bluewaters, City Walk, Remraam, and Nad Al Sheba Villas. The offering was jointly coordinated by Citigroup, Emirates NBD Capital, and Morgan Stanley. Emirates NBD Bank acted as Lead Receiving Bank.
Dubai Eye
05-05-2025
- Business
- Dubai Eye
Dubai Holding announces IPO for Dubai Residential REIT
Dubai Holding is preparing an initial public offering (IPO) of its residential real-estate investment trust (REIT) on the Dubai Financial Market (DFM). A total of 1.625 billion shares will be on offer, representing 12.5 per cent of Dubai Residential REIT's issued unit capital. It is expected to start trading on or around May 28 after the final price offer announcement on May 21. The offering subscription period is expected to run from May 13 to 20. Dubai residential REIT is a Shariah-compliant investment fund that manages 35,700 residential units across different key parts of Dubai. DHAM Investments, a subsidiary of Dubai Holding, is currently the sole unitholder of Dubai Residential REIT. "This IPO presents investors with a unique opportunity to participate in this success story while benefiting from the wider capabilities and opportunities within the broader Dubai Holding ecosystem," said Amit Kaushal, Group CEO of Dubai Holding. "The integration of Nakheel and Meydan's residential portfolios under Dubai Holding last year was a significant milestone in Dubai Residential's journey that enhanced its status as one of the region's largest residential leasing platforms." The IPO "paves the way for a broader segment of investors to participate in Dubai's dynamic real estate growth story," highlighted Malek Al Malek, Group Chief Executive Officer of Dubai Holding Asset Management and Chairman of the Investment Committee of DHAM REIT Management LLC. 'The Dubai Residential REIT provides investors with a straightforward and economical path to invest in premier, income-generating residential real estate assets across the city, without the complexities of direct property ownership and management," added Ahmed Al Suwaidi, managing director of DHAM REIT Management LLC. Dubai Residential REIT is expected to be the Gulf Cooperation Council (GCC) region's largest listed REIT, with a gross asset value (GAV) of 21.63 billion dirhams (US$5.89 billion), Dubai Holding said in a statement.
Hi Dubai
05-05-2025
- Business
- Hi Dubai
Dubai Holding Launches IPO for Dubai Residential REIT Ahead of DFM Listing
Dubai Holding has announced plans to launch an initial public offering (IPO) for its Dubai Residential REIT, marking a significant step in the region's real estate investment landscape. The REIT, focused solely on residential leasing, is set to list on the Dubai Financial Market (DFM) around May 28. The offering will comprise 1.625 billion shares through DHAM REIT Management LLC, a subsidiary of Dubai Holding. Currently, DHAM Investments — another subsidiary — is the sole unitholder of the REIT. The subscription window for investors is scheduled from May 13 to 20. Dubai Residential REIT is a Shariah-compliant, income-generating closed-ended fund under establishment, managing over 35,700 residential units across 21 communities and housing more than 140,000 residents. With a gross asset value of AED 21.63 billion, it is positioned to become the largest listed REIT in the GCC, nearly doubling the combined value of the five largest REITs currently in the region. The REIT plans to adopt a semi-annual dividend distribution policy, with its first payouts expected in September 2025 and April 2026. These are projected to exceed AED 1.1 billion in total, subject to board approval, and will represent 80% of profits before fair value adjustments. Amit Kaushal, Group CEO of Dubai Holding, called the IPO a 'natural evolution' of the company's strategy, highlighting the integration of Nakheel and Meydan's portfolios last year. Malek Al Malek, Group CEO of Dubai Holding Asset Management, emphasized the REIT's potential to offer sustainable returns and broader investor access to Dubai's growing residential sector. With a tenant mix of 43% corporate and 57% individual residents, the REIT reflects Dubai's diverse and expanding population — and its increasing global investment appeal. News Source: Khaleej Times
Arabian Business
05-05-2025
- Business
- Arabian Business
Dubai Holding announces Dubai Residential REIT IPO on DFM
Dubai Holding has announced plans to launch an initial public offering (IPO) for Dubai Residential REIT, a Shariah-compliant real estate investment fund, on the Dubai Financial Market (DFM). According to today's announcement, the offering will include 1,625,000,000 units representing 12.5 per cent of the REIT's issued unit capital. Trading is expected to begin around May 28, 2025. Dubai Holding's landmark IPO 'As one of the cornerstones of Dubai Holding, Dubai Holding Asset Management's residential leasing portfolio, Dubai Residential, has consistently delivered high-quality communities that meet the evolving needs of Dubai's diverse population. The integration of Nakheel and Meydan's residential portfolios under Dubai Holding last year was a significant milestone in Dubai Residential's journey that enhanced its status as one of the region's largest residential leasing platforms,' Amit Kaushal, Group Chief Executive Officer of Dubai Holding said. 'This IPO presents investors with a unique opportunity to participate in this success story while benefiting from the wider capabilities and opportunities within the broader Dubai Holding ecosystem. As we prepare for the listing, we look forward to working alongside our Dubai Residential REIT stakeholders to further enhance our offerings and continue driving the growth of Dubai as a leading global hub for living and investment,' he added. The REIT will be the GCC's first pure-play listed residential leasing-focused REIT and is expected to be the region's largest listed REIT at the time of listing, with a gross asset value (GAV) of AED21.63 billion. Dubai Residential REIT manages 35,700 residential units across 21 communities in Dubai, catering to various market segments including premium, community, affordable, and corporate housing. The subscription period for the offering will run from May 13 to May 20, 2025, with the final offer price announcement scheduled for May 21. 'Our residential leasing journey spans from some of the earliest purpose-built developments over 20 years ago to an exceptional portfolio of properties today that reflect Dubai's ongoing growth and development. This rich legacy, combined with a relentless commitment to quality, has solidified our role as a creator of diversified, connected communities, enabling us to capture the significant opportunities emerging from Dubai's property market. 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 Officer of Dubai Holding Asset Management and Chairman of the Investment Committee of DHAM REIT Management LLC said. 'With a diversified portfolio valued at over AED 21 billion, this milestone enables us to expand our impact, deliver sustainable unitholder returns, and continue shaping the future of urban living in Dubai. The launch of Dubai Residential REIT, featuring a portfolio comprising 35,700 residential units and serving more than 140,000 residents across 21 vibrant communities, marks a significant expansion of our investment offerings. This Offering paves the way for a broader segment of investors to participate in Dubai's dynamic real estate growth story,' he added. The REIT intends to adopt a semi-annual dividend distribution policy, making payments in April and September of each year, starting from September 2025. It expects that the sum of its first two dividend payments will be the higher of AED1,100 million or 80 per cent of profit for the period before changes in fair value of investment property. For the financial year ending December 31, 2024, the REIT reported revenue of AED 1,793 million and a pro forma profit of AED 2,640 million. Its average occupancy rate increased from 93 per cent in 2022 to 97 per cent by December 2024, with a tenant retention rate of 87 per cent for 2024.
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.'
