DUBAI RESIDENTIAL REIT-

Dubai Holding’s newly-listed Dubai ResidentialREIT’s net income jumped to AED 1.9 bn in 1H 2025, more than triple the AED 565.3 mn it recorded in the same period last year on the back of a fair value gain on an investment property, according to its financials (pdf). Excluding the fair value change, net income was up 10% y-o-y to AED 622 mn. The REIT raised AED 2.1 bn in its IPO in May of this year.

Revenues climbed 9.8% y-o-y to AED 957.8 mn amid rental price growth and sustained tenant demand, according to a separate earnings release (pdf). Strong occupancy rates also buoyed the results, increasing 2% y-o-y to reach 98% across its portfolio, while revenue per leased sqm rose 6%. Its corporate housing assets were fully-occupied at 100%, while premium residences posted 98% occupancy. Increased demand for affordable housing pushed the segment’s occupancy rate to 99%.

The board approved a 1H dividend of AED 550 mn, or 4.2 fils per unit, implying a 7.7% annualized yield on the IPO price.

EMPOWER-

District cooling provider Empower saw its bottom line rise 15.1% y-o-y to AED 257.8 mn in 2Q 2025, according to the firm's financial statements (pdf). The company’s revenues saw a 12.2% y-o-y uptick to AED 913.5 mn.

The firm saw more tempered growth in 1H, reporting a 3.4% y-o-y net income increase to AED 402.7 mn. Revenues saw a larger rise, increasing 7.5% y-o-y to come in at AED 1.5 bn. An uptick in business activity drove performance, with the firm inking 86 new contracts to add 99k RT across Dubai during the period — bringing its total contracted capacity to 1.9 mn RT, according to its earnings release (pdf). Key agreements in 1H included a contract with Dubai Multi Commodities Center and with Wasl Group.

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