About DIP Holding

DIP Holding is the company behind Dubai Investments Park (DIP) – an approximately 23 million sqm, mixed-use master community in Dubai. Its wholly owned subsidiary, Dubai Investments Park Development Company (DIPDC), operates an infrastructure-like ground rent and services platform providing long-term ground leases (typically 30+ year terms) across Logistics, Industrial, Residential and Commercial sectors.

Corporate Structure

01

DIP Holding

Pre IPO

100% owned by Dubai Investments PJSC

100%

Post IPO

20% free float on the DFM

20%

80% owned by Dubai Investments PJSC

80%
02

Dubai Investments Park Development Company LLC ("DIPDC")

Operates and manages DIP under a 99-year government headlease

DIPDC is 100% owned by DIP Holding

03

Dubai Investments Park ("DIP" or the "Park")

A mature, 23 million sqm mixed-use master community located in Dubai’s growing southern corridor.

Our Leadership

Founder

Khalid bin Kalban

Chairman of DIP Holding

“Our intention to list DIP Holding on the Dubai Financial Market represents a natural next step in a journey that began more than 25 years ago. Dubai Investments has long sought to incubate distinctive businesses and pioneering concepts. DIP is one of the clearest examples of that approach at work. What began as an ambitious vision for an integrated mixed-use destination has developed into a fully established and highly sought-after platform supporting businesses and communities across the logistics, industrial, commercial and residential sectors.”

Omar Al Mesmar

CEO of DIP Holding

“Our IPO marks an important milestone in DIP Holding’s journey and reflects the strength and resilience of our differentiated, infrastructure-like business model.

Built on long-term ground leases and the provision of essential services, DIP has established a highly resilient and integrated ecosystem. Ground lease occupancy remains close to 100% across all four sectors, reflecting sustained demand for our strategically located, well-managed destination within Dubai's southern growth corridor and the long-term relationships we have built with our tenants.”

Founder

Our Business Model

Under a 99-year headlease signed with the Government of Dubai in 1999, DIP offers long-term ground rent, and community infrastructure and other services to four core segments: Logistics, Industrial, Residential and Commercial.

Long-Term Ground Leases

Tenant-Funded Development

Revenue Streams

A city within a city ecosystem

What is “ground rent”

Ground rent is the rent paid by tenants for the right to use land within DIP under long-term lease agreements. Tenants develop and operate their own buildings and facilities on that land, while DIP earns income from the land lease and related services.

DIP at a Glance

map
  • 23 million sqm

    total master-planned area of which 17.1 million sqm gross leasable land area
  • c.98%

    average ground lease occupancy between 2020 and 2025
  • 99.9%

    ground lease occupancy as at 30 June 2026
  • c.1,000

    tenants
  • c.5,700

    sub-leases
  • 150k+

    residents

Revenue

AED 492m

(up 1.8% YoY)

H1'25 AED 483m

+1.8% YoY

Adjusted EBITDA1

AED 355m

(up 3.8% YoY)

H1'25 AED 342m

+3.8% YoY

Adjusted EBITDA Margin

72%

H1'25 71%

Profit for the Period

AED 444m

(up 6.1% YoY)

H1'25 AED 418m

+6.1% YoY

Cash Conversion

97%

H1'25 98%

Strategic Location and Connectivity

DIP’s strategic location places it within Dubai’s growing southern corridor, a key logistics corridor, and a focal point of ongoing economic development and infrastructure expansion.

  • Strategic Location and Connectivity

    Close proximity to Jebel Ali Port, the busiest port in the Middle East

  • Strategic Location and Connectivity

    Adjacent to Al Maktoum International Airport

  • Strategic Location and Connectivity

    Direct access to major arterial highways including Sheikh Mohammed Bin Zayed Road

  • Strategic Location and Connectivity

    Dedicated Dubai Metro station

map

Investment Highlights

A “City-within-a-City”, Powering Economic Progress

A Large-Scale, Mature and Strategically Located “City-within-a-City” Ecosystem
Differentiated Infrastructure-Like Ground Rent Model Providing Predictability and Stability
Strong Asset Management Capabilities
Infrastructure-Like Cash Flows: High Margin, Capex-Light and Highly Visible
Experienced Management Team and Supportive Long-Term Shareholder

Dividend Policy

DIP Holding intends to adopt a semi-annual cash dividend distribution policy aligned with its strong cash flow generation.

Expected Annualised Dividend:

FY’26

AED

700m1

  • Apr '27

    Distribution of AED 350m targeted in April 2027 in respect of H2’26

FY’27

AED

725m

  • H1’27

    AED 362.5m targeted in October 2027 for H1’27

  • H2’27

    AED 362.5m targeted in April 2028 for H2’27

FY’28

AED

750m

  • H1’28

    AED 375m targeted in October 2028 for H1’28

  • H2’28

    AED 375m targeted in April 2029 for H2’28

FY’29 onwards

Expects to continue paying dividends in line with or above the 2028 level.

Dividend distribution will be subject to Board recommendation, shareholder approval and the availability of distributable reserves.

1 Excludes AED 100m pre-IPO dividend which was paid out in September 2026

Growth Strategy

Growth Potential Supported by Favourable Macroeconomic Tailwinds

Visible Organic Growth, Supported by Potential Accretive Inorganic Growth

Medium-term: Three Levers Supporting Organic Growth

Long-term: Unique Platform for Strategic Expansion

IPO Timeline

  1. 19 October2026

    Announcement

    Announcement of Intention to Float on the DFM

  2. 27 October2026

    Offer Opens

    Offer Commencement Date & Price Range Announcement

  3. 3 November2026

    Subscription Closes

    Subscription Closing Date for All Tranches

  4. 4 November2026

    Final Price

    Announcement of Final Offer Price

  5. 10 November2026

    Allocation

    Final Allocation for Retail Tranche

  6. 10 November2026

    Refunds

    Commencement of Refunds

  7. 11 November2026

    Listing

    Expected Date of Listing on the DFM

How to Subscribe

  • 01

    Ensure you have an Investor Number (NIN) issued by the Dubai Financial Market (DFM). If you don’t have a NIN, you can apply on the DFM app or call the DFM call center at +971 4 3055555. Alternatively, you can approach a DFM-licensed brokerage to obtain an Investor Number on your behalf.

  • 02

    Review the content and documents on this IPO webpage to access more information about the Company and the IPO. The Prospectus provides all material information required to allow you to make an informed investment decision.

  • 03

    You can subscribe to the offering through the DFM app or one of the Receiving Banks. Each Receiving Bank will have its own channels, which typically include online, in-branch or through your bank relationship manager. The list of Receiving Banks and their details can be found at the bottom of this webpage and in the Prospectus.

  • 04

    You will be notified of the number of units allocated to you. You may or may not receive the full allocation of your order. Any excess monies will be refunded to you.

Key Documents

Intention to Float Statement

Prospectus1

Public Announcement

1 The English-language prospectus has not been reviewed or approved by the UAE Capital Market Authority (CMA). Please refer to the Arabic-language prospectus for the CMA-reviewed version.

FAQs

DIP is a fully developed and established, self-contained, mixed-use community spanning 23 million sqm in Dubai’s southern corridor, often described as a “city-within-a-city”. It combines Logistics, Industrial, Residential and Commercial uses with supporting infrastructure and amenities. DIP is home to approximately 1,000 tenants, approximately 5,700 sub-leases and more than 150,000 residents.

DIP Holding, through DIPDC, operates a ground rent and services platform with three main revenue streams:

  • Ground lease income from long-term leases of land plots to tenants

  • Sub-leasing fee income from charges applied when tenants sub-lease space to third parties

  • Services and ancillary income including lease transfer fees, service charges and sewerage charges

Ground rent is the rent paid by tenants for the right to use serviced plots within DIP under long-term lease agreements. Tenants generally fund and develop their own buildings and facilities, while DIP earns recurring ground rent and related service income.

DIP’s business model is described as “infrastructure-like” because it provides long-term access to serviced plots and essential infrastructure and services, while tenants generally fund their own buildings and facilities. This supports recurring revenues, long lease durations and limited ongoing capital requirements.

DIP Holding is not a traditional real estate developer. Through DIPDC, the Group focuses on operating a long-term ground rent and services platform rather than developing and selling buildings.

The Company leases serviced plots on a long-term basis to tenants from the Logistics, Industrial, Residential and Commercial sectors and provides infrastructure and services across the Park. Tenants are generally responsible for developing and financing their own buildings and facilities.

This capital-light model differs from a traditional property development model, which typically requires higher development capital and is more exposed to property sales cycles.

DIP Holding expects to adopt a semi-annual dividend policy aligned with its cash flow generation.

The Group has announced the following annualised dividend targets:

  • FY’26: AED 700m (Distribution of AED 350m targeted in April 2027 in respect of H2’26) – excluding a pre-IPO dividend of AED 100m which was distributed to the Selling Shareholder in September 2026.

  • FY’27: AED 725m (AED 362.5m targeted in October 2027 for H1’27 and AED 362.5m targeted in April 2028 for H2’27)

  • FY’28: AED 750m (AED 375m targeted in October 2028 for H1’28 and AED 375m targeted in April 2029 for H2’28)

For FY’29 and beyond, the Group expects to continue paying dividends in line with or above the 2028 level. Dividend distributions are subject to the recommendation of the Board of Directors, shareholder approval, and availability of distributable reserves.

Yes. The first post-IPO distribution is currently expected to be AED 350 million in April 2027, in respect of the full second half of 2026. This means shareholders who hold shares on the relevant record date would participate in a distribution relating to the full H2 2026 period, even though DIP Holding is expected to list in November.

As with all dividends, payment remains subject to the relevant Board and shareholder approvals, availability of distributable reserves and other applicable considerations.

This is a secondary offering. The Offer Shares are being sold by Dubai Investments PJSC, DIP Holding’s sole shareholder. DIP Holding will not receive any proceeds from the sale of shares in the Offering.

5% of the Offer Shares are allocated to the First Tranche (retail and other eligible investors in the UAE), representing 86,762,165 shares.

Each successful First Tranche subscriber will be guaranteed a minimum allocation of 2,000 shares, subject to the terms and conditions set out in the Prospectus.

In addition, the Offering includes two reserved tranches:

  • Third Tranche: 1% of the Offer Shares, representing 17,352,433 shares, is allocated to eligible employees of Dubai Investments PJSC and its subsidiaries. Each successful subscriber will be guaranteed a minimum allocation of 5,000 shares, provided their subscription amount is sufficient to purchase at least 5,000 Shares at the Final Offer Price, and subject to the terms of the Prospectus.

  • Fourth Tranche: 2% of the Offer Shares, representing 34,704,866 shares, is allocated to eligible natural-person shareholders of Dubai Investments PJSC. Each successful subscriber will be guaranteed a minimum allocation of 5,000 shares, provided their subscription amount is sufficient to purchase at least 5,000 Shares at the Final Offer Price, and subject to the terms of the Prospectus.

Dubai Investments will remain the majority shareholder of DIP Holding following the IPO, and DIP Holding’s results will continue to be consolidated in Dubai Investments’ financial statements.

As this is a secondary offering, the net proceeds will be received by Dubai Investments and can support its broader capital allocation priorities.

Eligible natural-person shareholders of Dubai Investments as of the record date of 28 October 2026 are eligible to participate in the dedicated Fourth Tranche, subject to the terms set out in the Prospectus. To qualify, investors must hold Dubai Investments shares no later than 26 October 2026; shares acquired after that date will not qualify for the Fourth Tranche.

Top FAQs

Receiving Banks

Lead Receiving Bank

Emirates NBD Bank PJSC

Abu Dhabi Commercial Bank

Abu Dhabi Islamic Bank

Dubai Islamic Bank

First Abu Dhabi Bank

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