{"id":103630,"date":"2025-05-14T00:00:00","date_gmt":"2025-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubai-holdings-aed-1-8-bn-reit-ipo-sells-out-within-minutes\/"},"modified":"2025-05-14T00:00:00","modified_gmt":"2025-05-14T00:00:00","slug":"dubai-holdings-aed-1-8-bn-reit-ipo-sells-out-within-minutes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/14\/dubai-holdings-aed-1-8-bn-reit-ipo-sells-out-within-minutes\/","title":{"rendered":"Dubai Holding\u2019s AED 1.8 bn REIT IPO sells out within minutes"},"content":{"rendered":"

Dubai Holding\u2019s <\/strong>Dubai Residential REIT IPO<\/a><\/strong> was fully subscribed yesterday <\/strong>within minutes of books opening, Bloomberg<\/a> reports, citing a terms document it had seen. The subscription period was set to last until next Tuesday, 20 May. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The state-owned investment conglomerate is guiding on an indicative price range of AED 1.07-1.10 per unit<\/strong>, according to a statement (pdf)<\/a>. At the top of the range, the offering could generate AED 1.8 bn, implying a market cap of AED 14.3 bn upon listing.<\/p>\n

Refresher: <\/strong>The company is set to list 12.5% of the REIT on the DFM, in what is the first pure-play residential leasing REIT to list in the GCC and the largest by assets. <\/p>\n

Don\u2019t expect to see cornerstone investors. <\/strong>The company chose not to include cornerstone investors in a bid to make trading in the REIT more liquid, the business news information service reports, citing sources it says are familiar with the matter.<\/p>\n

What\u2019s next?<\/strong> The final offer price will be announced on Wednesday, 21 May, along with the allocation of units. The Dubai Residential REIT will ring the bell on the DFM on Wednesday, 28 May.<\/p>\n

ADVISORS<\/strong>- Emirates NBD Capital, Morgan Stanley and Citigroup are quarterbacking the transaction as joint global coordinators, with Abu Dhabi Commercial Bank, Arqaam Capital and First Abu Dhabi Bank acting as joint bookrunners on the transaction. Deloitte & Touche is auditor, while Ibrahim & Partners is legal counsel. Receiving agents include Emirates NBD Bank, Mashreq Bank, First Abu Dhabi Bank, and Emirates Islamic Bank, among others.<\/p>\n

Also in the pipeline: <\/strong>Dubai Holding is said to be mulling a second IPO<\/a> for a portfolio of commercial real estate assets, including malls, hotels, and theme parks.<\/p>\n

The bigger picture:<\/strong> The listing would be the first in Dubai this year, and the second in the UAE, following Alpha Data\u2019s<\/a> AED 600 mn IPO in February. It\u2019s also the first to take place since volatility hit global markets following the US\u2019 introduction of sweeping tariffs last month. ADQ-backed Etihad Airways had pushed its highly anticipated IPO to after Eid Al Fitr, but we haven\u2019t heard anything yet, while Dubizzle and Property Finder are gauging investor appetite<\/a> ahead of potential listings.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment conglomerate is guiding on an indicative price range of AED 1.07-1.10 per unit<\/p>\n","protected":false},"author":1,"featured_media":103631,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1560],"tags":[130,258,7,1392,149,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-103630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-dfm","tag-dubai-holding","tag-enterpriseam-uae","tag-ipo","tag-ipo-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"203ecbbb-299c-402d-8d13-60bfa3d6feb1","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1908.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dubai Holding\u2019s AED 1.8 bn REIT IPO sells out within minutes","related_issue":[103623],"teaser":"The investment conglomerate is guiding on an indicative price range of AED 1.07-1.10 per unit","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.39d73f97-629e-4f5d-8b55-bf42729eeb97.mp3"},"yoast_head":"\nDubai Holding\u2019s AED 1.8 bn REIT IPO sells out within minutes - 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