Dubai Residential REIT buys 220 Jebel Ali Village townhouses

Dubai Residential REIT has expanded its investment portfolio with the purchase of 220 townhouses at Jebel Ali Village for AED894 million ($243 million).

The real estate investment trust added 276 units to its portfolio in the first half of 2026, including 56 units purchased in Garden View Villas earlier this year.

The Garden View villas and the townhouses are projected to contribute almost AED75 million in additional revenue, supporting the REIT’s medium-term growth trajectory, Ahmed Al Suwaidi, managing director of Dham REIT Management, said in a statement.

Dubai Residential REIT is evaluating opportunities within the Dubai Holding residential pipeline, including Lantana Hills in Dubai Science Park, new units in Dubai Wharf, and a cluster of single-family units in The Acres community in Dubailand.

In March unit holders of the REIT, which listed on the Dubai Financial Market in May 2025, approved a dividend of AED550 million for the second half of 2025.

The REIT intends to continue distributing at least 80 percent of its profit semi-annually, subject to board and regulatory approvals.

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Government-owned Dubai Holding sold 15 percent of Dubai Residential REIT at AED1.1 per share in an IPO that was 26 times oversubscribed.

Originally, Dubai Holding planned to sell a 12.5 percent stake, but such was the demand that it expanded the offering.

The IPO raised AED2.15 billion, valuing Dubai Residential REIT at almost $4 billion. Total gross demand for the IPO was $15 billion.

Dubai Residential REIT shares were trading flat at AED1.26 on Tuesday morning, up nearly 2 percent so far this year.

Dham Investments, a wholly owned subsidiary of Dubai Holding, owns 85 percent of the REIT.