Dubai Holding’s Dubai Residential REIT has reported solid 9M performance, with revenue up 10% y-o-y, supported by sustained leasing momentum and robust rental growth, according to a press release (pdf). Revenue per leased sq ft increased 7% y-o-y to AED 56.1 and its gross asset value finished 9M at AED 23 bn. Occupancy remained strong at 98% across its portfolio, up 2% y-o-y, and retention held its rate of 97% from 1Q and 2Q on the back of robust lease renewal.

Looking ahead, the REIT, which completed its IPO in May, plans to add 276 units to its portfolio across Jebel Ali Village and Garden View Villas, expected to generate AED 70-80 mn in additional revenue once stabilized. Dividends for FY 2025 are set at the higher of AED 1.1 bn or 80% of net income before changes in fair value.

UAE REITs have seen broad gains this year against the backdrop of a strong property market, with most trading up YTD. ENBD REIT also posted USD 29 mn in 1H FY 2025-26 net income, while Al Mal Capital REIT carried out an AED 220 mn capital raise through offering new units. Dubai Residential REIT is currently trading at AED 1.23, up almost 12% from its IPO price of AED 1.1.

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