Dubai Holding Launches $5.9B Residential REIT IPO on DFM

Dubai Holding has announced the launch of an initial public offering (IPO) for its Dubai Residential REIT on the Dubai Financial Market (DFM), marking the emirate's first IPO of 2025. The offering will comprise 1.625 billion units, representing 12.5% of the REIT's issued unit capital, with trading expected to commence around May 28, 2025.

The Dubai Residential REIT is poised to become the Gulf Cooperation Council's (GCC) largest listed real estate investment trust, boasting a gross asset value of AED21.63 billion ($5.89 billion). The REIT manages 35,700 residential units across 21 communities in Dubai, catering to a diverse range of market segments including premium, community, affordable, and corporate housing. The subscription period for the IPO is scheduled from May 13 to May 20, 2025, with the final offer price announcement set for May 21. The REIT will be listed under the symbol "RESI" on the DFM.

Malek Al Malek, Group CEO of Dubai Holding Asset Management and Chairman of the Investment Committee of DHAM REIT Management LLC, stated, "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." He added that the REIT's diversified portfolio, valued at over AED21 billion, enables the company to expand its impact and deliver sustainable unitholder returns.