Dubai Holding, the investment conglomerate owned by the emirate’s ruler, has announced an increase in the target size of its initial public offering (IPO) for its residential real estate investment trust (REIT). The firm now aims to raise up to $584 million (AED 2.15 billion), up from the initially planned $487 million.
This upward revision reflects substantial demand from both local and international investors, signaling strong confidence in Dubai’s real estate market. The IPO, which marks Dubai’s first public offering of 2025, has reportedly achieved full subscription shortly after its launch earlier this month.
The revised offering will involve 1.95 billion units, an increase from the previously announced 1.63 billion. At the upper end of the revised price range, the REIT will have an implied market capitalization of up to $3.9 billion.
This IPO is part of Dubai’s broader strategy to privatize some government-owned entities and deepen its capital markets.
Key Highlights:
- Dubai Holding has increased the size of its real estate REIT IPO to $584 million due to strong demand from investors.
- The IPO is the first in Dubai for 2025 and aims for a market capitalization of up to $3.9 billion.
- The offering size was increased to 1.95 billion units from the initial 1.63 billion.
- This move is part of Dubai’s wider privatization efforts.