DFM

Dubai’s physical real estate market is showing resilience, with transaction volumes rebounding sharply the second week of March, even as listed property stocks continue to reprice risk

The launch coincides with national strategies such as UAE Vision 2031 and Abu Dhabi Vision 2030

DFM’s total market capitalization stood at Dhs995bn, reflecting a well-balanced and diversified sectoral composition

The IPO, priced at Dhs1.40 per share, valued ALEC at Dhs7bn ($1.91bn) and attracted around Dhs30bn ($8.1bn) in orders, more than 21 times oversubscribed

Net proceeds will be used to settle the employee stock ownership plan, fund strategic mergers and acquisitions, and maintain strategic flexibility for growth

UAE operations have remained the company’s core revenue engine, contributing Dhs864m in sales.

The strong Q1 performance underscores rising consumer demand for digital convenience and the platform’s ability to diversify beyond restaurant orders