Page 228 - ALEF EDUCATION PR REPORT - OCTOBER 2025

10/2/25, 11:54 AM Alec Holding raises $381m in Dubai IPO | The National
The IPO momentum continued this year with the listing of Alpha Data on ADX and Dubai Residential
Reit on the DFM. Alpha Data, a UAE technology company, raised $163 million from its offering, while
Dubai Residential Reit's IPO size reached $584 million.

Last month, Dubai Investments said it plans to list up to 25 per cent of its unit Dubai Investments Park.
The company, in which ICD also holds a stake, is currently in discussions with banks on the IPO, it
said in a statement to the DFM.

Across the wider Gulf, $2.3 billion was raised from four IPOs in the second quarter of this year, a slight
decrease from $2.6 billion raised from eight listings in the same period last year, according to PwC.

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