Dubai Holding announces increase in size of initial public offering of Dubai Residential REIT

• The size of the offering has been increased to 1,950,000,000 Units from the previously announced 1,625,000,000 Units
• The offering now represents 15.0% of Dubai Residential REIT’s issued unit capital (increased from the previous offering size of 12.5%)
• The Institutional offering (Second Tranche) size increased to 1,787,500,000 Units, while the UAE Retail offering (First Tranche) size remains unchanged
• Based on the unchanged price range of AED 1.07 to AED 1.10 per Offer Unit, the revised size of the offering is expected to be between AED 2,087 million (USD 568 million) and AED 2,145 million (USD 584 million)
• The offering subscription period remains unchanged and will close on 20 May 2025
• The final offer price will be determined following the book-building process, expected to be announced on 21 May 2025
• The completion of the offering and Admission of Units to trading on the DFM will take place on or around 28 May 2025
   

Dubai Holding, through its wholly owned subsidiary DHAM REIT Management LLC (the “Fund Manager”), today announces that, following approval from the UAE Securities and Commodities Authority (the “SCA”), it increased the offering size of the initial public offering (“IPO” or the “Offering”) of 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 1,950,000,000 Units from 1,625,000,000 Units, which would result in floating 15.0% of the REIT’s issued unit capital, instead of the previously announced 12.5%.