Dubai Holding intends to float Dubai residential REIT on DFM

Dubai Holding, through its wholly owned subsidiary DHAM REIT Management (the "Fund Manager"), on Monday announced its intention to launch an initial public offering ("IPO" or the "Offering") for Dubai Residential REIT, a Shariah-compliant income-generating closed-ended real estate investment fund under establishment and one of the largest owners and operators of residential real estate in Dubai (the "REIT"), to list its units for trading (the "Units") on the Dubai Financial Market ("DFM").

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Dubai Residential REIT's portfolio shall be managed by the Fund Manager pursuant to a fund management agreement between Dubai Residential REIT and the Fund Manager, leveraging its expertise to ensure optimised asset performance and stable returns. The Fund Manager's role includes, but is not limited to, managing and operating the REIT's residential assets leasing business, monitoring the financial status, key performance indicators and progress of Dubai Residential REIT's business and portfolio investments (including procuring semi-annual valuation reports), preparing the REIT's financial reports for publication and appointing and managing service providers for functions including, but not limited to, facility management and property management.

The REIT benefits from the broader residential ecosystem curated by Dubai Holding, a global investment leader with one of the largest land banks in the Emirate of Dubai.

DHAM Investments LLC (the "Selling Unit-holder"), a subsidiary of Dubai Holding, is currently the sole unitholder of Dubai Residential REIT and is offering 1,625,000,000 (one billion six hundred and twenty-five million) Units in the Offering.

The Offering subscription period is expected to run from 13 May 2025 to 20 May 2025 (both days included).