Dubai Holding aims to raise up to $487mln for its residential REIT IPO

Dubai Holding seeks up to $500m from REIT listing

Dubai Holding aims to raise a maximum of AED1.8 billion ($490 million) from its residential real estate investment trust (REIT) listing. This month the investment conglomerate owned by Sheikh Mohammed bin Rashid Al Maktoum, the emirate’s ruler, announced floating 12.5 percent of its Dubai Residential REIT, or 1.63 billion units, on the Dubai Financial Market (DFM).  The offer price range was set between AED1.07 and AED1.10 per unit, implying a m…

Dubai Holding aims to raise up to $487mln for its residential REIT IPO

Dubai Holding also announced the start of the subscription period, offering 1.62 billion units, representing 12.5% of issued unit capital