Latest news with #Dh2.145
Al Etihad
03-06-2025
- Business
- Al Etihad
Dubai Residential REIT sustains gains a week after listing
3 June 2025 18:59 A. SREENIVASA REDDY (ABU DHABI)Shares of Dubai Residential REIT held steady at Dh1.24, nearly 13% above the listing price of Dh1.10, a week after the stock debuted on the Dubai Financial Market (DFM) on May Residential REIT is the second IPO in the UAE this year and the first on the DFM in 2025. The share price remained consistently above the offer price throughout the week, underscoring the resilience of both the stock and the broader REIT is the GCC's first listed pure-play residential leasing-focused real estate investment trust, and the largest listed REIT in the region, managing 35,700 residential units. The initial public offering raised Dh2.145 billion and was oversubscribed 26 Residential REIT debuted on the DFM with a market capitalisation of Dh14.3 billion. By the close of trading on Tuesday, its market cap had risen to Dh16.1 billion — a Dh2 billion increase in shareholder value within a the Abu Dhabi Securities Exchange, the benchmark FADGI index rose 0.461%, snapping a two-day losing streak. The financial sector led the gains, with Abu Dhabi Islamic Bank climbing 2.6% and First Abu Dhabi Bank advancing 1.53%. Meanwhile, the DFM General Index (DFMGI) gained 0.677%, marking a second straight session of gains. Market sentiment in Dubai remains upbeat despite ongoing global market volatility.
Al Etihad
28-05-2025
- Business
- Al Etihad
Dubai Residential REIT makes handsome gains in initial hours of listing
28 May 2025 13:03 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 subscriptions oversubscribed by 26 at Dh1.10 per unit on Wednesday morning, the REIT saw strong early trading activity, climbing to Dh1.26 — a 15% gain over its listing price. It quickly emerged as one of the most actively traded securities on the DFM in terms of both value and volume. 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. Source: Aletihad - Abu Dhabi
Al Etihad
21-05-2025
- Business
- Al Etihad
Dubai Residential REIT IPO oversubscribed 26 times, final price set at Dh1.10
21 May 2025 13:11 REDDY (ABU DHABI)The initial public offering (IPO) of Dubai Residential REIT has attracted overwhelming investor interest, being oversubscribed 26 times with a gross demand of Dh56 billion ($15 billion). The final offer price has been set at Dh1.10 per unit, implying a market capitalisation of Dh14.3 billion ($3.9 billion) upon listing, making it the largest listed REIT in the by strong investor appetite across local, regional, and international markets, the offering size was increased from 12.5% to 15.0% of the REIT's issued unit capital. The IPO will raise Dh2.145 billion ($584 million) for the selling unitholder, DHAM Investments, a subsidiary of Dubai Kaushal, Group CEO of Dubai Holding, described the response as 'a powerful endorsement of Dubai Holding's strategic vision and the strength of our residential leasing portfolio.' He added: 'This investor confidence speaks not only to the resilience of the UAE's economic vision and Dubai's long-term growth trajectory, but also highlights the increasing depth, maturity and global appeal of its capital markets.'The REIT, managed by DHAM REIT Management, will list on the Dubai Financial Market (DFM) on or around May 28 under the ticker "DUBAIRESI". Retail investors will receive allocation confirmations by May 26, with refunds starting the same portfolio includes 35,700 residential units across 21 integrated communities, serving over 140,000 residents. Malek Al Malek, Group CEO of Dubai Holding Asset Management and Chairman of DHAM REIT's Investment Committee, noted: 'The strong investor demand clearly signals a growing appetite for stable, income-generating assets in Dubai's vibrant and mature real estate sector. Dubai Residential REIT is firmly positioned as the benchmark for residential leasing in the city.'The REIT intends to adopt a semi-annual dividend distribution policy, beginning September 2025. The total of the first two dividend payments is expected to be the higher of Dh1.1 billion or 80% of profit before revaluation gains for FY2025. From FY2026 onwards, at least 80% of such profit will be distributed, subject to board near-full occupancy and high retention rates, the REIT's portfolio spans a mix of family-focused and premium residential communities including Bluewaters, City Walk, Remraam, and Nad Al Sheba Villas. The offering was jointly coordinated by Citigroup, Emirates NBD Capital, and Morgan Stanley. Emirates NBD Bank acted as Lead Receiving Bank.
Al Etihad
19-05-2025
- Business
- Al Etihad
Dubai Residential REIT ups IPO size amid strong demand
19 May 2025 08:50 REDDY (ABU DHABI)Dubai Holding has announced a significant increase in the size of the initial public offering (IPO) of Dubai Residential REIT, raising the number of offer units to 1.950 billion from the previously announced 1.625 billion. The upsized offer now represents 15% of the REIT's issued capital, up from the original 12.5%.The IPO, based on the price range of Dh1.07 to Dh1.10 per unit and the revised offer size, is expected to raise between Dh2.087 billion and Dh2.145 billion (approximately $568 million to $584 million). This would imply a market capitalisation at listing of between Dh13.9 billion and Dh14.3 decision to expand the offer follows strong demand and oversubscription across all investor categories. While the UAE retail tranche remains unchanged at 162.5 million units, the institutional tranche has been increased to 1.787 billion units from 1.462 billion subscription period opened on May 13 and will close on May 20. The final offer price is expected to be announced on May 21 following the completion of the book-building process. Admission to trading on the Dubai Financial Market (DFM) is anticipated on or around May 28 under the symbol 'DUBAIRESI.'Dubai Residential REIT is a Shariah-compliant, income-generating closed-ended real estate investment fund managed by DHAM REIT Management, a subsidiary of Dubai Holding. It owns and operates over 35,000 residential units across 21 integrated communities in Dubai. The REIT plans to adopt a semi-annual dividend policy, with initial distributions beginning in September 2025. The offer price range implies a gross dividend yield of between 7.7% and 7.9% for the current year.
