Recent Research

• 

  FIRST LOOK NOTES

  11 Aug 2025

  Dubai Residential REIT

  HOLD

  Last Closing Price

  1.38

  Target Price

  1.51

  Upside (%)

  +9.42%

  UAE Equity Research - Dubai Residential REIT 2Q25 - First Look Note

  Average rent per square foot rose 6.2% YOY to AED 55.5 in 1H25, driven by re-ratings and lease renewal catch-ups. The Gross Asset Value rose to AED 23.0 Bn in June 2025 from AED 21.6 Bn in December 2024, driven by valuation gains.

  Download
• 

  EARNINGS CALL INSIGHT

  08 Aug 2025

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.40

  Target Price

  1.51

  Upside (%)

  +7.86%

  UAE Equity Research - Dubai Residential REIT 2Q25 - Earnings Call Insight

  Dubai Residential revenue rose 9.8% YOY to AED 958 Mn in 1H25, supported by continued leasing momentum and higher rental rates across the residential portfolio. Direct cost grew 7.0% YOY to AED 230 Mn in 1H25. Gross profit increased 10.7% YOY to AED 728 Mn in 1H25, while gross margins expanded 62 bps YOY to 76.0% in 1H25.

  Download
• 

  INITIAL COVERAGE (EQUITIES)

  08 Jul 2025

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.24

  Target Price

  1.51

  Upside (%)

  +21.77%

  UAE Equity Research - Dubai Residential REIT - Initiation Coverage

  We initiate coverage on Dubai Residential REIT (“Dubai Residential” or “the Company”) with an equity valuation of AED 1.51 per share. Dubai Residential became the GCC region's largest Real Estate Investment Trust (REIT) after listing. The Company is a wholly owned indirect subsidiary of Dubai Holding, one of the most influential and largest private real estate investor and developer in Dubai.

  Download