DIP Holding, the owner of the Dubai Investments Park real estate business, is seeking to raise as much as $543 million from an initial public offering on the local stock exchange, in the first potential listing of the year in the United Arab Emirates.
The Gulf IPO market has slowed significantly this year due to the US-Israeli war on Iran.
Equity issuances in the Middle East and Africa were down 79% in the first nine months of 2026 from a year earlier, LSEG data showed.
Shareholder Dubai Investments DINV.DU is offering a total of 1.73 billion shares in DIP Holding to investors, equal to a 20% stake.
The price range was set at between 1.10 and 1.15 dirhams a share ($0.29 to $0.31), DIP Holding said in a statement.
That implied a total offer size ranging from $520 million to $543 million and a market capitalisation at listing of between $2.6 billion and $2.7 billion.
The final offer price will be determined through a book-building process and is expected to be announced on November 4.
Dubai Investments Park is a 23-million-square-metre development including industrial, commercial and residential spaces.
($1 = 3.6728 UAE dirham)
Reuters
