Dubai Residential REIT revenue rises 8.4% as occupancy nears 99%

Average occupancy reached 98.9% in the three months to March 31, up from 98.3% a year earlier, while tenant retention stood at 98%

Dubai Residential REIT reported an 8.4 per cent year-on-year increase in revenue for the first quarter of 2026, supported by sustained rental growth and high occupancy across its portfolio.

Average occupancy reached 98.9 per cent during the three-month period to March 31, up from 98.3 per cent a year earlier, while tenant retention stood at 98 per cent.

Average revenue per leased space rose 7.4 per cent year-on-year to AED 58.9 per square foot.

Gross asset value increased to AED 23.8 billion, including the addition of 56 villas as part of the Garden View Villas development.

Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, said: “Our first-quarter operational performance update reflects both the resilience of our portfolio and the underlying strength of Dubai’s residential market. In an environment characterised by rapidly evolving market conditions, our portfolio has continued to demonstrate stability, supported by the quality, scale and diversity of our communities. Through disciplined asset management and proactive leasing across the portfolio, we have maintained stable occupancy levels, strong tenant retention and continued rental growth, while remaining focused on enhancing customer experience and operational efficiency.

We remain confident in the outlook for Dubai Residential REIT, supported by a diversified, income-generating asset base, a prudent balance sheet and a clear focus on long-term value creation. As we continue to execute on our strategy, the REIT is well positioned to navigate evolving market conditions, capture growth opportunities and deliver consistent income and attractive long-term returns for our unitholders.”

Dubai’s residential market recorded 170,000 lease contracts worth AED 15.1 billion during the quarter, including 60,545 new leases, with renewals rising 3.2 per cent year-on-year.

Residential sales transactions reached AED 134.8 billion across 44,378 deals, up 19 per cent in value and 4.2 per cent in volume, according to the report.

The REIT said it remains focused on expanding its portfolio, with Jebel Ali Village expected to add 220 units in the second quarter of 2026 and further developments under evaluation across Dubai.

News Source: https://www.arabianbusiness.com/real-estate/dubai-residential-reit-revenue-rises-8-4-as-occupancy-nears-99

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