Dubai Residential REIT Reports 8.4% Revenue Growth and 98.9% Occupancy

DUBAI, UAE – Dubai Residential REIT, managed by DHAM REIT Management LLC, reported solid operational performance for the three-month period ended 31 March 2026, supported by sustained rental growth, high occupancy levels and continued demand across its diversified residential portfolio.

According to a press release, revenue increased by 8.4 percent year on year, supported by strong leasing activity and sustained demand across core residential segments.

Average revenue per leased GLA rose by 7.4 percent year on year, while Gross Asset Value stood at approximately AED23.8 billion ($6.48 billion), including the addition of 56 villas as part of the Garden View Villas portfolio.

The REIT maintained a portfolio average occupancy rate of 98.9 percent for Q1 2026, an increase of 1.0 percent year on year. Its portfolio-wide retention rate stood at 98.0 percent, reflecting stable tenant retention and consistent leasing performance.

Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, said Dubai Residential REIT operational performance results for the first quarter reflect the strength and quality of its portfolio and underscore the solid fundamentals of Dubai’s residential real estate market.

"We remain confident in the outlook for Dubai Residential REIT, supported by a diversified, income-generating asset base, a prudent balance sheet and a clear focus on long-term value creation," he added.

Dubai’s residential real estate market remained resilient in Q1 2026 despite regional uncertainty, with leasing activity continuing to reflect solid tenant demand and a more balanced market backdrop.

The general rental index increased by 4.1 percent year on year, with apartment and villa rental indices rising by 4.1 percent and 0.7 percent, respectively. Dubai recorded 170,000 residential lease contracts worth AED15.1 billion ($4.11 billion) during the quarter, including 60,545 new leases and a 3.2 percent year-on-year increase in renewals.

Sales activity also remained strong, with the REIDIN sales index rising 9.0 percent, led by villas at 12.5 percent and apartments at 8.5 percent. Residential transactions reached AED134.8 billion ($36.7 billion) across 44,378 deals, up 19.0 percent in value and 4.2 percent in volume, highlighting continued depth of demand across Dubai’s residential market.

Dubai Residential REIT said it remains well-positioned to deliver robust income, supported by its scale, diversified exposure across the Premium, Community, Affordable and Corporate Housing segments, and continued focus on quality, maintenance, amenities and customer experience.

With the addition of Garden View Villas, Dubai Residential REIT continues to execute on its committed growth pipeline. Jebel Ali Village is expected to add 220 units and remains on track for completion in Q2 2026. Together, Garden View Villas and Jebel Ali Village are projected to generate between AED70 million and AED80 million ($19.1 million to $21.8 million) in additional revenue on stabilisation.

The REIT also continues to evaluate further value-accretive opportunities within Dubai Holding and Dubai Holding Asset Management’s pipeline, including new developments in Lantana Hills in Dubai Science Park and The Acres in Dubailand, as well as potential expansion of the REIT’s residential offering in Dubai Wharf.