Dubai Investments Park, the 23 million square metre mixed-use development anchored between Jebel Ali Port and Al Maktoum International Airport, is heading to the Dubai Financial Market. Its parent company, DIP Holding, announced on 19 October that Dubai Investments PJSC will sell a 20% stake through an IPO comprising 1,735,243,300 existing ordinary shares.
The subscription window opens on 27 October and closes on 3 November 2026. The final offer price is expected to be announced on 4 November, with shares admitted to trading on or around 11 November. Dubai Investments will retain the remaining 80% of the company’s issued share capital following completion, and DIP Holding itself will receive none of the proceeds from the sale.
The offering is divided into four tranches. Individual investors holding a valid DFM NIN can subscribe through the first tranche, which covers 5% of the offer shares, with a minimum subscription of AED 5,000 and a guaranteed floor allocation of 2,000 shares per successful applicant. Professional investors take the bulk, at 92% of offer shares, with a minimum subscription of AED 1 million and pricing set through a book-building process. Eligible Dubai Investments employees and existing Dubai Investments shareholders each have dedicated tranches representing 1% and 2% of the offer respectively, both with AED 5,000 minimums and 5,000-share guaranteed allocations.
DIP operates as a ground-lease platform, collecting long-term rents from roughly 1,000 tenants across logistics, industrial, residential and commercial uses. Leases typically run 30 years or more, with periodic market-based repricing built in. Ground lease occupancy stood at 99.9% as at 30 June 2026, with tenants having invested more than AED 42 billion in superstructures on their leased plots.
The financial profile is straightforward. Revenue grew from AED 838 million in FY2023 to AED 892 million in FY2024 and AED 960 million in FY2025. In the first half of 2026, revenue reached AED 492 million, up 7% year-on-year on a like-for-like basis. Adjusted EBITDA margin held at 72% for the half, and cash conversion came in at 97%. Net profit for H1 2026 was AED 444 million.
The company is promising investors an annualised dividend of AED 700 million for 2026, rising to AED 725 million in 2027 and AED 750 million in 2028. The first post-listing distribution, covering the full second half of 2026, is expected to be AED 350 million paid in April 2027. Shareholders who participate in the IPO will receive dividend credit for the entire H2 2026 period rather than only the weeks following admission.
Khalid Jassim Bin Kalban, Chairman of DIP Holding, described the listing as “a natural next step” after more than 25 years of development, noting that the park has played “an enabling role in Dubai and the wider UAE’s continued economic expansion and diversification.” Chief Executive Omar AlMesmar pointed to the repricing pipeline as a visible driver of future income: as at 30 June 2026, approximately 10.7 million square metres of leases, representing around 86% of the ground-rent portfolio, were contracted for repricing between H2 2026 and 2030.
Citigroup Global Markets, Emirates NBD Capital and HSBC Bank Middle East are acting as joint global coordinators. Abu Dhabi Commercial Bank, Arqaam Capital, Dubai Islamic Bank and EFG Hermes UAE are joint bookrunners. Al Mal Capital is financial advisor. Emirates NBD Capital is also acting as listing advisor, with Emirates NBD Bank as lead receiving bank. The offering has received Shariah-compliance pronouncements from the internal committees of Emirates NBD and Dubai Islamic Bank.
Further information is available at ipo.dipark.com.
