Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Dubai Residential REIT units began trading on the Dubai Financial Market (DFM) following a successful initial public offering (IPO) that raised Dh2.145 billion. The offering received an overwhelming response from investors, with the issue oversubscribed 26 times.
Listed at Dh1.10 per unit on Wednesday morning, the REIT witnessed strong trading activity and closed the day at Dh1.25 — a 14% gain over its listing price. It emerged as the most actively traded security on the DFM in terms of both value and volume on its first day of trading.
At the time of listing, the REIT was valued at Dh14.3 billion ($3.9 billion), making it the largest listed real estate investment trust in the GCC.A statement from the DFM said: “The listing of Dubai Residential REIT on DFM 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 is also the first REIT to list under the UAE’s updated regulatory framework and marks the first listing on the DFM in 2025.
To commemorate the listing, Malek Al Malek, Group Chief Executive Officer of Dubai Holding Asset Management and Chairman of the Investment Committee of DHAM REIT Management, 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. They were joined by Helal Al Marri, Chairman of the DFM Board of Directors; Hamed Ali, Chief Executive Officer of DFM and Nasdaq Dubai; Amit Kaushal, Group Chief Executive Officer of Dubai Holding; and Omar Karim, Group Chief Investment Officer of Dubai Holding.
Helal 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.”
Amit Kaushal added: “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.”
Hamed Ali noted: “The listing 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.”
Malek Al Malek said: “This milestone marks a defining moment for the region’s real estate and investment landscape. The listing of Dubai Residential REIT underscores the strength of our strategic vision, the quality of the asset portfolio, and our commitment to sustainable, long-term growth.”
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% increase over last year.
