Staff Report
Dubai, UAE
Binghatti Holding Ltd, a leading UAE luxury real estate developer, achieved Dh1.82 billion net profit in H1 2025, a 172 percent yearly spike from Dh668 million in the same period last year. As per its latest financial report, revenue tripled year-on-year to Dh6.3 billion. Sales worth Dh8.8 billion were recorded, representing 60 percent YoY growth.
The developer also expanded its pipeline in the first half with seven launches comprising 5,000 units over 3.8 million square feet. It also handed over five developments featuring 1,441 units over 1 million square feet. The pipeline growth accumulated a revenue backlog of Dh12.5 billion, compared to Dh6.6 billion in the same period last year. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) also increased 170 percent YoY from Dh820 million in H1 2024 to Dh2.2 billion in H1 2025.
In H1 2025, 61 percent of Binghatti’s sales were made to non-resident buyers, up from 55 percent a year earlier. Leading buyer nationalities in H1 2025 included India, Turkey and China. While international investors continue to play a growing role in driving sales, Binghatti also recorded strong local demand, supported by the UAE’s expanding population, and ongoing investment in infrastructure and housing accessibility. The developer continued to broaden its domestic customer base by improving affordability and access to high-quality real estate developments.
Muhammad BinGhatti, Chairman of Binghatti Holding, said, “As Dubai continues to attract global capital and high-net-worth individuals, our developments have become increasingly relevant to an international audience. The rising share of non-resident buyers speaks volumes about both our reach and Dubai’s position as a safe, fast-growing investment destination.”
Binghatti’s Dh70 billion portfolio features a number of flagship branded residences built in collaboration with world-renowned luxury partners like Bugatti, Mercedes-Benz, and Jacob & Co. It currently has around 20,000 units under development across about 30 projects in prime residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Meydan, Dubai Science Park, Dubai Production City, and Sports City. Furthermore, the developer acquired a mega plot at Nad Al Sheba 1 in Meydan with over 9 million square feet of gross floor area, which will serve as the foundation for its first master-planned residential community with a total development value of over Dh25 billion.
Katralnada Binghatti, CEO of Binghatti Holding, said, “Our H1 2025 results and operational achievements underscore the discipline, agility, and long-term thinking that drive every aspect of our business. Launching seven projects and handing over four in just six months demonstrates our operational leadership in the market and our deep commitment to on time delivery.”
During the first six months, Binghatti undertook several initiatives to support homeownership growth. In May 2025, it signed a Memorandum of Understanding with Abu Dhabi Islamic Bank (ADIB) to offer Sharia-compliant home financing solutions tailored to both ready and off-plan residential units. Under the agreement, eligible buyers will be able to secure financing once construction reaches 35 percent completion and 50 percent of payments have been made – a flexible structure designed to unlock new demand among UAE-based homeowners and investors.
Binghatti Holding was selected in July by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) as one of 13 developers participating in the newly launched First-Time Home Buyer (FTHB) Programme. As part of this initiative, Binghatti has committed to allocating at least 10 percent of its newly launched and existing residential units priced under Dh5 million exclusively to eligible first-time buyers. The earmarked units will be made available ahead of public launches, ensuring early access and greater affordability for UAE residents entering the property market for the first time.
In addition to prioritised access, Binghatti is offering exclusive financial incentives to FTHB participants, including discounts on selected properties and reduced administrative fees, with enhanced packages for both Emiratis and expatriates. The initiative supports Dubai’s broader economic and social development goals, including the D33 Economic Agenda which targets Dh1 trillion in real estate transactions.
In July, Binghatti also became a founding partner of the Dubai PropTech Hub, a joint initiative of the DIFC Innovation Hub and the Dubai Land Department. The Hub, which aims to attract US$300 million in venture capital by 2030, will position Binghatti at the forefront of real estate innovation through access to emerging technologies such as AI, blockchain, and sustainable smart infrastructure. As a founding partner, Binghatti will benefit from early engagement with next-generation PropTech start-ups through the Hub’s Living Lab, Scale-up Accelerator, and bespoke innovation programs.
In the first half of 2025, Binghatti’s credit profile was formally recognised by leading global rating agencies. In March, Moody’s Ratings assigned Binghatti a first-time Ba3 Corporate Family Rating (CFR) with a stable outlook, citing the company’s strong market position in Dubai’s luxury real estate sector, its vertically integrated operating model, and prudent financial management. The agency highlighted Binghatti’s low leverage, strong liquidity, and effective cost control as key credit strengths, alongside its strategic expansion through branded developments and a deep pipeline of projects.
Shortly after, Fitch Ratings upgraded Binghatti’s Long-Term Issuer Default Rating (IDR) and senior unsecured debt to BB- from B+, also with a stable outlook. The upgrade reflected Binghatti’s resilient growth trajectory, robust liquidity – including a low net debt-to-EBITDA ratio of just 0.8x – and its ability to self-fund future projects through internally generated cash flows. Both agencies recognised the company’s strengthened corporate governance framework and the institutional credibility brought by its inaugural US$500 million sukuk, which is listed on both the London Stock Exchange and Nasdaq Dubai.
Dubai’s real estate market continues to show structural strength, supported by a growing population, stable governance, and surging global investor interest. As of June 2025, Dubai’s population surpassed 3.75 million and is expected to exceed four million by the end of 2026. In the first half of 2025 alone, over 19,700 new residential units were handed over, primarily in JVC, Al Merkadh and Business Bay. However, delivery across core and premium submarkets has not kept pace with demand.
This gap is even more evident in the luxury and branded segment, where sustained demand continues to drive strong absorption rates. Rental values in prime zones such as Marina, Business Bay, and Downtown Dubai are up significantly year-on-year, clear indicators of supply pressure and investor appetite.
Ends
Also read: Binghatti acquires Dh25 bn worth of landbank to build mega project in Meydan
