Dubai Holding will raise the size of residential REIT’s Initial Public Offering (IPO) to 15 per cent of issued unit capital, up from the previously announced 12.5 per cent. Based on revised offering size \"following strong demand from domestic and international investors and oversubscription across all tranches\", it is seeking to raise up to AED 2.15 billion ($585.45 million), the company said. It implies market capitalisation at listing of between AED13.9 billion ($ 3.8 billion) and AED 14.3 billion ($ 3.9 billion). The company is offering a stake in its REIT at a price ranging from AED 1.07 to AED 1.10 per unit. Upon listing on the Dubai Financial Market (DFM), DHAM Investments LLC, a subsidiary of Dubai Holding, will continue to own a majority 85 per cent stake in the REIT.

Dubai Holding increases IPO size of Residential REIT

Dubai Holding has increased the size of its residential REIT's Initial Public Offering (IPO) to 15% of issued unit capital, up from 12.5%, aiming to raise up to AED 2.15 billion ($585.45 million). The revised offering reflects strong investor demand, with the REIT's market capitalization projected between AED13.9 billion and AED14.3 billion upon listing. DHAM Investments LLC, a subsidiary of Dubai Holding, will retain an 85% stake in the REIT post-listing.