Dubai Lures Investors: First IPO Since War Offers Record Dividends

DIP Holding is seeking to attract demand for the first initial public offering in the UAE since the outbreak of the war, by offering dividends worth $592 million over the next three years.

According to the deal terms, Dubai Investment, the sole owner of the company, intends to sell 20% of its shares. DIP Holding owns the Dubai Investment Park (DIP), one of the largest mixed-use projects in the UAE.

IPO Date

The subscription period will run from October 27 to November 3 this year, with trading expected to begin on November 11, 2026, at the Dubai Stock Exchange.

In addition to DIP Holding, Dubai Investment holds stakes in approximately 30 companies operating in manufacturing, real estate, and financial services. The parent company's shares rose by 5.1%, marking the largest increase since early May 2026.

The company expects annual dividends of 700 million dirhams ($190.58 million) in 2026, and 725 million dirhams and 750 million dirhams in 2027 and 2028, respectively.

Dubai Investment Park

The 2,300-hectare (8.9-square-mile) DIP complex was established in 1997 and includes warehouses, hotels, commercial outlets, schools, and medical centers.

Citi Group, Emirates NBD Capital, and HSBC Holdings serve as joint global coordinators for the deal, while Commercial Bank of Abu Dhabi, Arqam, Dubai Islamic Bank, and EFG Hermes have been appointed as joint bookrunners.

The Gulf region has been a hub for initial public offerings, but listing volumes declined this year as the war deepened the broader market slowdown.