Recent Research

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  FIRST LOOK NOTES

  05 Aug 2026

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.26

  Target Price

  1.60

  Upside (%)

  +26.98%

  UAE Equity Research - Dubai Residential REIT 1H26 - First Look Note

  Average portfolio occupancy improved to 98.6% in 1H26, while annualised revenue per leased GLA increased 7.5% YOY to AED 59.7 per sq. ft. Gross Asset Value (GAV) increased to AED 25.2 Bn as of June 2026 from AED 23.5 Bn as of December 2025.

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• 

  EARNINGS CALL INSIGHT

  04 Aug 2026

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.25

  Target Price

  1.60

  Upside (%)

  +28.00%

  UAE Equity Research - Dubai Residential REIT 1H26 - Earnings Call Insight

  Dubai Residential REIT's revenue rose 8.1% YOY to AED 1,036 Mn in 1H26, driven by rising rental rates, ERV catch-up on renewal, re-rating on churn, and sustained occupancy. Direct cost declined 18.7% YOY to AED 187 Mn in 1H26.

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• 

  FIRST LOOK NOTES

  05 Feb 2026

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.33

  Target Price

  1.60

  Upside (%)

  +20.30%

  UAE Equity Research - Dubai Residential REIT 4Q25 - First Look Note

  Average rent per square foot rose 6.7% YOY to AED 56.5 in 2025, driven by re-ratings and lease renewal catch-ups. The Gross Asset Value rose to AED 23.5 Bn in December 2025 from AED 21.6 Bn in December 2024, driven by valuation gains.

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• 

  EARNINGS CALL INSIGHT

  05 Feb 2026

  Dubai Residential REIT

  BUY

  Last Closing Price

  1.33

  Target Price

  1.60

  Upside (%)

  +20.30%

  UAE Equity Research - Dubai Residential REIT 2H25 - Earnings Call Insight

  Dubai Residential revenue rose 8.1% YOY to AED 996 Mn in 2H25, supported by continued leasing momentum and higher rental rates across the residential portfolio. Direct cost fell 35.7% YOY to AED 197 Mn in 2H25.

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• 

  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.

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• 

  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.

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