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Dubai Residential REIT profit rises 15% to Dh716.5 million in first half of 2026
Revenues grew 8.1% to more than Dh1 billion as occupancy reached 98.6%, while the board approved a Dh573.2 million interim dividend
- PUBLISHED: Mon 3 Aug 2026, 11:28 AM
Dubai Residential REIT reported a 15.1 per cent increase in net profit before fair value changes to Dh716.5 million for the first half of 2026, supported by higher rents, near-full occupancy and disciplined cost management.
Revenue rose 8.1 per cent year-on-year to Dh1.04 billion, from Dh957.8 million during the same period of 2025. Adjusted earnings before interest, taxes, depreciation, and amortisation increased 14.6 per cent to Dh822.6 million, while the adjusted EBITDA margin expanded to 79.4 per cent, from 74.9 per cent a year earlier.
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The GCC’s largest real estate investment trust said average portfolio occupancy reached 98.6 per cent, up from 98.1 per cent, while the tenant retention rate improved to 94.1 per cent.
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Average revenue per leased unit increased 7.7 per cent to Dh56,638, while average revenue per leased square foot rose 7.5 per cent to Dh59.7.
Dh573.2 million dividend approved
The REIT’s board approved an interim cash dividend of Dh573.2 million, equivalent to 4.4 fils per unit.
The distribution represents 80 per cent of first-half net profit before changes in the fair value of investment properties.
It implies an annualised dividend yield of about 8 per cent on the initial public offering price and 7.1 per cent on the closing price as of June 30, 2026.
Free cash flow conversion improved to 94.8 per cent, from 92.6 per cent a year earlier, reflecting the cash-generating capacity of the residential leasing portfolio.
Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, said the results demonstrated the quality of the portfolio and the depth of demand for its residential communities.
“We delivered double-digit net profit growth, maintained near-full occupancy and continued to grow rental income across one of Dubai’s largest and most diversified residential leasing portfolios,” he said.
Al Suwaidi said the REIT would continue to pursue active asset management and assess further opportunities within the Dubai Holding and Dubai Holding Asset Management pipeline.
Asset value reaches Dh25.2 billion
Gross asset value increased 6.9 per cent to Dh25.2 billion as of June 30, from Dh23.5 billion at the end of 2025.
The increase was mainly driven by the addition of 56 Garden View Villas and the acquisition of 220 homes in Jebel Ali Village. On a like-for-like basis, excluding the acquisitions, gross asset value rose about 1.4 per cent.
Net asset value increased to Dh22.6 billion, while net asset value per unit rose to Dh1.74, from Dh1.70 at the end of 2025.
The portfolio expanded to 35,976 residential units, compared with 35,701 a year earlier. Net finance-to-value remained low at 6.8 per cent, preserving financial flexibility.
Dubai Residential REIT operates 22 integrated communities with more than 35,900 homes serving over 146,000 residents across premium, community, affordable and corporate housing segments.
The REIT has also submitted expressions of interest to acquire three medium-term residential projects comprising 448 premium homes and 107 community units.
The proposed pipeline includes 107 homes at Dubai Wharf, 390 townhouses at Lantana Hills in Dubai Science Park and 58 luxury villas at The Acres.
