Dubai Residential REIT posted an 8.4 per cent year-on-year rise in revenue for the first quarter of 2026, driven by continued rental growth and consistently high occupancy levels across its portfolio.
Average occupancy stood at 98.9 per cent for the three months ending March 31, compared to 98.3 per cent in the same period last year, while tenant retention remained strong at 98 per cent.
Average revenue per leased space increased by 7.4 per cent year-on-year, reaching AED 58.9 per square foot.
Gross asset value climbed to AED 23.8 billion, supported by the addition of 56 villas within the Garden View Villas development.
Ahmed Al Suwaidi, Managing Director of DHAM REIT Management, said the first-quarter performance highlights both the resilience of the portfolio and the strength of Dubai’s residential sector. He noted that despite rapidly changing market dynamics, the portfolio has maintained stability, underpinned by the quality, scale, and diversity of its communities. Through disciplined asset management and proactive leasing strategies, the REIT has sustained high occupancy, strong tenant retention, and continued rental growth, while also prioritising enhanced customer experience and operational efficiency.
He added that the outlook for Dubai Residential REIT remains positive, supported by a diversified, income-generating asset base, a prudent balance sheet, and a clear focus on long-term value creation. The REIT is well positioned to navigate shifting market conditions, capitalise on growth opportunities, and deliver stable income alongside attractive long-term returns for unitholders.
Dubai’s residential sector recorded 170,000 lease contracts valued at AED 15.1 billion during the quarter, including 60,545 new leases, while renewals rose by 3.2 per cent year-on-year.
Residential sales transactions totalled AED 134.8 billion across 44,378 deals, reflecting a 19 per cent increase in value and a 4.2 per cent rise in volume, according to the report.
The REIT stated that it continues to prioritise portfolio expansion, with Jebel Ali Village expected to contribute 220 units in the second quarter of 2026, alongside additional developments currently under review across Dubai.
