Dubai Residential REIT, the GCC’s largest real estate investment trust, has announced the successful acquisition of 220 townhouses at Jebel Ali Village and their addition to its investment portfolio, thus marking the next step in the REIT’s committed growth strategy and expanding its presence in Dubai’s premium residential segment.
Comprising a mix of three- and four-bedroom townhouses, the new cluster of 220 townhouses adds scale in a strategically located, family-oriented community and further broadens the REIT’s exposure to high-quality, income-generating residential assets.
Dubai Residential REIT said the acquisition was secured through a forward purchase agreement at a price of AED894 million ($243 million).
With this move, it has added a total of 276 units to its portfolio during the first half, reflecting continued delivery against its committed growth pipeline.
This cluster adds a sizeable number of family-oriented townhouses in a strategically located community with strong long-term demand fundamentals.
Together, the 220 townhouses in Jebel Ali Village and the new premium Garden View Villas are projected to contribute approximately AED75 million in additional revenue once stabilised, supporting the medium-term growth trajectory of the REIT, it added.
Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, said: "The acquisition and addition of the 220 townhouses at Jebel Ali Village to our portfolio marks the next step in Dubai Residential REIT’s committed growth strategy, following the successful acquisition of 56 units in Garden View Villas earlier this year."
"Together, these additions reflect disciplined execution against the pipeline outlined at the time of listing and demonstrate our ability to integrate high-quality, income-generating residential assets into the portfolio in a measured and value-accretive manner," he noted.
"As we integrate these homes into the portfolio, our focus will remain on disciplined leasing, maintaining a high-quality resident experience and translating these assets into sustainable cash generation. We will continue to assess further opportunities with a clear emphasis on strategic fit, operational readiness and long-term value creation for unitholders," he added.
Dubai Residential REIT continues to evaluate additional value-accretive opportunities within the Dubai Holding residential pipeline, including Lantana Hills within Dubai Science Park, new units within Dubai Wharf, as well as a cluster of single-family units within The Acres community in the Dubailand area.
These opportunities remain subject to evaluation in line with the REIT’s investment policy, portfolio strategy and long-term return objectives.
