Binghatti secures $500m to expand development pipeline

Dubai developer Binghatti Holding has raised $500 million through a five-year sukuk, as it aims to expand its development pipeline.

The issuance was oversubscribed 4.4 times, attracting demand of $2.5 billion, it said in a statement.

International investors accounted for half of the order book. 

The sukuk, part of the developer’s $1.5 billion debt-raising programme, was priced at a profit rate of 8.375 percent, or 461 basis points over the five-year US treasury yield. 

Sukuk are shariah-compliant bonds.

Proceeds will be used to support the company’s growth strategy and expand its development pipeline, the developer said.

Binghatti’s net profit nearly doubled year on year to AED3.6 billion in 2025. Revenue rose to AED12.4 billion, up from AED6.34 billion in 2024, supported by rising sales and accelerated project handovers.

Last month the chairman ruled out a public listing.

The company’s development portfolio includes more than 40,000 units in Downtown Dubai, Business Bay, Jumeirah Village Circle and Meydan.

Further reading:

• Dubai’s Binghatti shelves IPO plan on strong balance sheet
• Binghatti revenue and profit grow with property demand
• Binghatti leads Dubai’s off-plan sales as Emaar slips