The debut of the Dubai Residential REIT, the region’s first listed real estate investment trust focused exclusively on residential leasing, marks a significant moment in the evolution of the UAE’s property and financial sectors.
With a portfolio of more than 35,000 units and a gross asset value exceeding Dh21.6 billion, Dubai Residential REIT stands out for its size and strategic focus. It is also the first listing under the UAE’s recently updated real estate investment trust (REIT) regulations - making it a timely opportunity to explore how REITs work, why they matter and the growing role they are expected to play in the investment landscape.
A REIT is a company or fund that owns and operates income-generating real estate assets and distributes the majority of its earnings to investors as dividends. Designed to offer the economic benefits of property ownership without the complexities of managing property directly, REITs allow individuals and institutions to invest in diversified real estate portfolios with relatively low capital requirements.
REITs are publicly traded on stock exchanges and operate much like listed equities. Investors can buy or sell units in a REIT as they would shares in a company, offering greater flexibility and liquidity than traditional property investments. In a real estate-driven economy such as the UAE’s - where property has long been a favoured asset class - REITs provide a structured, transparent and regulated way for a broader segment of investors to gain exposure.
One of the core appeals of REITs is their ability to generate regular income. In the UAE, REITs are required to distribute at least 80 per cent of their annual net profits to unitholders. These distributions, typically funded by rental income, offer consistent cash flow -particularly attractive in times of market uncertainty. Over the long term, dividends account for the majority of total returns from REITs, with capital appreciation playing a secondary role.
These dividend distributions are now more tax-efficient than ever. As part of new regulations issued in April, UAE-based REITs are exempt from corporate income tax, and UAE-based individual investors are not required to pay tax on dividends or capital gains. These changes bring the UAE’s REIT framework closer in line with international models and make the structure more attractive for long-term investors.
REIT diversification is another key advantage. A REIT typically holds properties across different sectors or geographic locations, spreading risk and reducing exposure to volatility in any single asset. For example, a residential REIT might include premium apartments, mid-market housing, and affordable rental units in various districts across a city. Achieving this breadth as an individual property investor would be expensive and time-consuming.
REITs also benefit from professional asset management. Specialist teams are responsible for asset acquisitions, leasing management, tenant retention, and property maintenance, ensuring the portfolio is actively managed to maximise returns. This relieves investors of the day-to-day challenges of property ownership while offering the benefits of scale, experience, and strategic oversight.
When evaluating a REIT, investors should consider operational and financial performance indicators. Metrics such as occupancy rates, rental income growth, tenant retention and cost efficiency provide insights into a REIT’s ability to generate stable income. Financial measures such as funds from operations (FFO), net asset value (NAV), and dividend yield help assess profitability and market valuation. Together, these indicators offer a clear picture of the REIT’s underlying strength.
REIT performance is also influenced by macroeconomic factors. Interest rates, inflation, real estate demand and government policy all play a role. In the UAE, long-term real estate fundamentals remain strong, supported by continued population growth, infrastructure investment, and regulatory reforms such as expanded residency options. These fundamentals are boosting demand across residential and commercial real estate sectors.
Liquidity is another important differentiator. Unlike traditional real estate, which can take months to sell and incur high transaction costs, REITs are traded on exchanges and can be bought or sold quickly. This liquidity makes them a more agile and responsive option for investors seeking to adjust their portfolio allocations over time.
The listing of Dubai Residential REIT under the UAE’s revised REIT regulations is a milestone, not just because of the trust’s scale - more than 35,000 residential units and a gross asset value of Dh21.6 billion - but because of what it represents. It reflects the growing maturity and sophistication of the country’s investment infrastructure, where real estate exposure is no longer limited to direct ownership but is now available through transparent, regulated vehicles suitable for a range of investors.
For retail investors, REITs open doors that were previously closed. With low minimum investment thresholds, regular income, and diversified exposure, REITs provide an accessible entry point into real estate. For institutions, they offer efficiency, scale, and the ability to allocate capital into property markets without the operational overhead.
As awareness of REITs increases and the regulatory environment continues to support their growth, these vehicles are expected to become a permanent fixture in the UAE’s investment landscape. Whether for income generation, capital preservation, or long-term growth, REITs offer a compelling alternative to traditional property ownership - combining the reliability of real estate with the flexibility of public markets.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Sholto Byrnes on Myanmar politics
COMPANY%20PROFILE
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Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
MATCH INFO
Uefa Champions League last-16, second leg:
Real Madrid 1 (Asensio 70'), Ajax 4 (Ziyech 7', Neres 18', Tadic 62', Schone 72')
Ajax win 5-3 on aggregate
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Gully Boy
Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi
Rating: 4/5 stars
Gender equality in the workplace still 200 years away
It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.
The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.
But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.
At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.
The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.
After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.
Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.
And the number of women in leadership roles has risen to 34 per cent globally, WEF said.
At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.
And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.
* Agence France Presse
Du Plessis plans his retirement
South Africa captain Faf du Plessis said on Friday the Twenty20 World Cup in Australia in two years' time will be his last.
Du Plessis, 34, who has led his country in two World T20 campaigns, in 2014 and 2016, is keen to play a third but will then step aside.
"The T20 World Cup in 2020 is something I'm really looking forward to. I think right now that will probably be the last tournament for me," he said in Brisbane ahead of a one-off T20 against Australia on Saturday.
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Third Test
Result: India won by 203 runs
Series: England lead five-match series 2-1
