IPO for Dubai Residential REIT to open May 13–20, offering retail and institutional access to Dh21.63 billion asset portfolio.
Dubai Holding, one of the UAE’s most prominent real estate developers, has announced the launch of an Initial Public Offering (IPO) for its newly formed Real Estate Investment Trust (REIT), the Dubai Residential REIT. The IPO is scheduled to run from May 13 to May 20, with listings set to occur on the Dubai Financial Market (DFM).
The REIT, which will be Sharia-compliant, includes a substantial portfolio of 35,700 residential units housing more than 140,000 residents across 21 communities. With a gross asset value of Dh21.63 billion, it is expected to be the largest listed REIT in the GCC, nearly doubling the combined GAV of the region’s five biggest REITs.
This REIT is structured as a wholly owned subsidiary under Dubai Holding Asset Management (DHAM) and represents a strategic milestone following the integration of major developers Nakheel and Meydan into Dubai Holding’s fold last year.
“The IPO presents investors with a unique opportunity to participate in the success story of Dubai Residential while leveraging the broader capabilities of the Dubai Holding ecosystem,” said Amit Kaushal, Group CEO of Dubai Holding.
Dividend Policy and Structure
Dubai Residential REIT plans to adopt a semi-annual dividend policy, with payouts in April and September, starting from September 2025. It targets distributing the higher of:
- Dh1.10 billion, or
- 80% of profits before fair value adjustments to investment properties, based on 2025 financial results
IPO Breakdown
Dubai Holding will float 1.62 billion units, representing 12.5% of the REIT’s issued capital. The offering is split into two tranches:
- Retail Tranche: 10% (162.5 million units), allocated to UAE retail investors and DFM National Investor Number holders. Each successful applicant is guaranteed a minimum of 2,000 units, subject to total demand.
- Institutional Tranche: 90% (1.46 billion units), reserved for qualified institutional investors.
Post-IPO, DHAM Investments will retain 87.5% ownership of Dubai Residential REIT.
“This IPO marks a natural evolution of our journey and paves the way for broader investor participation in Dubai’s dynamic real estate sector,” said Malek Al Malek, CEO of DHAM and Chairman of the REIT’s Investment Committee.
REITs offer a regulated vehicle for investors to access income-generating real estate assets. With the backing of Dubai Holding’s extensive land bank and development portfolio, the Dubai Residential REIT is positioned to be a major player in the region's property investment landscape.
