Latest news with #Dh1.10
Al Etihad
24-06-2025
- Business
- Al Etihad
Al Mal Capital REIT launches follow-on offering to raise Dh242 million
24 June 2025 13:50 REDDY (ABU DHABI)Al Mal Capital REIT, the first real estate investment trust (REIT) listed on the Dubai Financial Market (DFM), has launched a follow-on public offering (FPO) to raise up to Dh242 million in new capital. The fundraising will support the acquisition of additional income-generating assets across healthcare, education, and mission-critical industrial sectors. The FPO follows the remarkable success of the Dubai Residential REIT's recent IPO, which raised Dh1.245 billion after being oversubscribed 26 offering opens on July 7 and closes on July 25, with trading of the new units expected to begin on August 8, subject to regulatory approvals. The new units are priced at Dh1.10 each, including a nominal value of Dh1.00, a Dh0.10 issuance premium, and a Dh0.025 subscription fee, including VAT. The cost for investors works out to Dh1.125 per unit. The FPO will issue up to 220 million new units, raising the fund's issued capital from Dh513.9 million to Dh733.9 million. Existing unitholders on record as of 26 June 2025 will receive a priority allocation equal to approximately 39% of their current holdings to ensure their shareholding is not diluted. A secondary allocation will provide a minimum guaranteed allotment of up to 2,000 units to eligible new on the offering, Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital, said, 'There is a growing investor appetite for regional REITs as shown by recent offerings on the DFM that saw record-breaking retail participation, especially in the UAE. We are therefore pleased that we can offer more investors a chance to access Al Mal Capital REIT, which continues to deliver strong and consistent dividends.'Al Mal Capital REIT has reported a stable performance since 2023, distributing an annual return of around 7%. To underscore this track record, the REIT announced an interim dividend of Dh0.0375 per unit for the first half of 2025, reflecting a 7.5% annualised yield. Only investors holding units as of June 26 will be eligible to receive this of May 31, 2025, the fund's net asset value (NAV) stood at Dh577 million, with a NAV per unit of Dh1.1229. The REIT maintains a 100% occupancy rate across its real estate portfolio. Al Mal Capital REIT is managed by Al Mal Capital, a subsidiary of Dubai Investments. Investment Corporation of Dubai (ICD), an arm of the Government of Dubai, is the majority shareholder in Dubai Investments. The FPO is open to retail and institutional investors from the UAE and across the GCC. Interested investors can subscribe through First Abu Dhabi Bank branches, online banking (for FAB clients), or by submitting a manager's cheque payable to 'Al Mal Capital REIT – FPO.' The minimum subscription is 2,000 units, equivalent to a total investment of Dh2,250 including fees. Investors in the new units will be entitled to the same rights as existing unitholders, including eligibility for future dividend distributions.
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.
