Global investment company Dubai Holding has announced that it is planning to set up a real estate investment trust (REIT) to capitalise on the Emirate’s booming property market.
The REIT would include some community developments that were recently transferred to Dubai Holding.
Dubai Holdings offering a REIT would present another channel to funnel financial flows into the Emirate.
Being a global hub for business, tourism and luxury living, the REIT is expected to attract considerable attention from local and international investors interested in exposure to quality income-generating properties.
Dubai Holding is one of the city’s principal investment vehicles with assets of Dh265bn, ranging from luxury hotel chain Jumeirah to theme parks and the world’s tallest but non-functioning Ferris Wheel.
In March, the group announced that developers Nakheel and Meydan, which owns Dubai’s racecourse, were to be merged and incorporated under the conglomerate.
Developers Dubai Properties and Meraas are part of Dubai Holding. Hospitality group Jumeirah Hotels and Resorts, which owns the city’s seven star hotel – Burj Al Arab – as well as luxury hotels across the city and the Middle East, Asia and Europe, is also included in the holding company.
