Dubai Investments plans to offer 20% of the shares in its subsidiary, DIP Holding PLC, through an initial public offering (IPO), ahead of the company’s planned listing on the Dubai Financial Market (DFM).
The offering will consist of 1,735,243,300 shares, with Dubai Investments acting as the selling shareholder.
DIP Holding owns Dubai Investments Park Development Company in full. The company operates Dubai Investments Park, a 23-million-square-meter development that provides infrastructure, land leasing, and other services. Its tenants include businesses in the logistics, industrial, residential, and commercial sectors, many of which operate under long-term land lease agreements.
The park currently serves about 1,000 tenants and has 5,700 sublease agreements. More than 150,000 people live within the development.
Strong Financial Performance and Expected Dividend Payments
DIP Holding recorded AED 960 million in revenue in 2025, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reaching AED 678 million.
The company continued to grow in the first six months of 2026, generating AED 492 million in revenue and AED 355 million in adjusted EBITDA. Its EBITDA margin stood at 72%, while cash conversion remained strong at 97%.
The company expects further growth from adjustments to land rents under its lease agreements, increased subleasing activity, and changes in land use that would allow certain plots to support higher-value activities.
DIP Holding has also outlined its expected dividend payments for the coming years. It anticipates annual distributions of AED 700 million for 2026, AED 725 million for 2027, and AED 750 million for 2028, with plans to make cash payments twice a year, subject to the required approvals.
The first payment following the IPO is expected in April 2027. It will amount to AED 350 million and cover the second half of 2026. Eligible investors taking part in the offering are expected to receive dividends for that entire six-month period, including the months before the planned November listing.
IPO Details and Expected Listing Date
Dubai Investments shareholders will have an additional opportunity to participate in the offering. A fourth tranche, accounting for 2% of the shares being offered, has been set aside for eligible individual shareholders of the company.
To qualify, investors must purchase Dubai Investments shares by October 26, 2026. Eligibility will be based on the October 28 record date.
Subscriptions are expected to open on October 27 and run through November 3, 2026. DIP Holding shares are then expected to begin trading on the Dubai Financial Market on or around November 11, depending on regulatory approvals and market conditions.
Khalid Bin Kalban: IPO Reflects the Maturity of the Company’s Business
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments and Chairman of DIP Holding, said: “DIP Holding embodies the success of a long-term vision that has become a reality at Dubai Investments Park, with its integrated ecosystem forming the foundation of the company’s operations.”
He added: “The park has become one of Dubai’s largest mixed-use destinations, supported by its diverse tenant base, recurring revenues, and strong business fundamentals.”
Bin Kalban noted that the planned offering represents a natural extension of the company’s development and reflects the maturity, scale, and quality of its business.
He continued: “This step comes at a time when Dubai’s capital markets continue to demonstrate their depth and maturity, supported by strong economic fundamentals, well-established regulatory frameworks, and sustained investor confidence in the UAE.”
