Staff Report
Dubai, UAE
Binghatti Holding Ltd., one of the UAE’s fastest growing real estate developers, announced that the issuance of its US$500 million five-year senior unsecured sukuk on the London Stock Exchange was priced with a profit rate of 8.125 percent, following the sukuk’s debut. The sukuk will also be listed on Nasdaq Dubai.
Issued under Binghatti’s US$1.5 billion Trust Certificate Issuance Programme, the sukuk was oversubscribed five times, attracting over US$2.5 billion in orders from a diverse pool of regional and global investors. The company is rated BB- by Fitch and Ba3 by Moody’s, both with stable outlooks.
Muhammad BinGhatti, Chairman of Binghatti Holding, commented, “The listing of our sukuk on the London Stock Exchange is a clear signal of Binghatti’s commitment to engaging proactively with global investors and operating at the highest standards of transparency and governance. The landmark sukuk issuance enjoyed strong international demand, allowing us to close the books ahead of schedule and reinforcing market confidence in our credit profile, operational resilience, and growth strategy. As we scale our business and diversify our development portfolio, access to deep, liquid, and global capital markets is central to our financial strategy. Today’s listing marks another important step in broadening our investor base and strengthening our global footprint.”
The successful issuance and the strong demand come on the back of Binghatti Holding’s strong H1 2025 results. During the first half, the company’s net profit more than tripled to Dh1.82 billion, driven by resilient demand for Dubai real estate. The group’s total sales reached Dh8.8 billion, with revenue climbing 189 percent year-on-year to Dh6.3 billion.
The group launched seven new projects and delivered five developments in H1 alone, handing over 15 projects in the last 18 months. Its Dh12.5 billion revenue backlog and over Dh70 billion development portfolio position it as one of Dubai’s leading developers. Binghatti currently has approximately 20,000 units under development across 30 projects in prime Dubai locations including Downtown, Business Bay, Jumeirah Village Circle, and Meydan, as well as its flagship branded residences in collaboration with luxury partners Bugatti, Mercedes-Benz, and Jacob & Co.
The company’s development pipeline was further reinforced by the recent acquisition of approximately nine million square feet megaplot in Nad Al Sheba 1, which will host Binghatti’s first master-planned community, with a projected development value of over Dh25 billion.
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Also read: Binghatti’s US$500 mn benchmark sukuk 5 times oversubscribed
