DUBAI,19th May, 2025 (WAM) -- Dubai Holding, through its wholly owned subsidiary DHAM REIT Management LLC (the “Fund Manager”), today announced that, following approval from the UAE Securities and Commodities Authority (SCA), it increased the Offering size of the initial public offering (IPO or the Offering) of Dubai Residential REIT, a Shariah-compliant income-generating closed-ended real estate investment fund under establishment and one of the largest owners and operators of residential real estate in Dubai (REIT), to 1,950,000,000 units from 1,625,000,000 units, which would result in floating 15.0% of the REIT’s issued unit capital, instead of the previously announced 12.5%.
DHAM REIT Management LLC exercised its right to increase the number of Units driven by the strong demand from domestic and international investors and oversubscription across all tranches. Upon listing on the Dubai Financial Market (DFM), DHAM Investments LLC, a subsidiary of Dubai Holding, will continue to own a majority 85% stake in the REIT.
Based on the unchanged Offer Price Range of AED1.07 to AED1.10 per Offer Unit (the “Offer Unit”), the revised Offering size is expected to be between AED2,087 million (US$ 568 million) and AED 2,145 million (US$ 584 million), implying a market capitalisation at listing of between AED13.9 billion (US$ 3.8 billion) and AED 14.3 billion (US$ 3.9 billion).