DIP Holding plans Dubai share issuance
DUBAI, October 2023 — Deyaar Development Company, the owner of Dubai Investment Park, announced its intention to list its shares on the Dubai Financial Market through an initial public offering (IPO), involving the sale of 20% of its capital by Dubai Investment. Dubai Investment will remain the sole shareholder after the offering. The IPO process will include selling approximately 1.735 billion ordinary shares from existing stock, with subscription expected to open between October 27 and November 3, 2023. The shares are scheduled to be listed on the market on November 11, 2023. Dubai Investment Park is a versatile mixed-use platform spanning 23 million square meters, serving around 1,000 tenants. It generates recurring revenue from rents and services, with strong cash flows and notable growth in revenues and profits anticipated during 2024 and 2025. Post-listing, dividends are expected to increase to 750 million dirhams annually.
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