Real Estate Developer Announces Record Profit for First Nine Months

Binghatti Holding Ltd. experienced remarkable financial growth in the first nine months of 2025, with net profit soaring 145% year-on-year to Dh2.66 billion. This surge, the company's best performance to date, was fueled by accelerated sales, early project handovers, and the strength of Dubai's real estate market. Revenue nearly tripled to Dh8.96 billion, accompanied by significant increases in gross profit (143% to Dh3.95 billion) and EBITDA (139% to Dh3.28 billion). The company maintained healthy margins across the board.

Operational highlights included the sale of approximately 12,000 units, making Binghatti the top off-plan developer in Dubai by units sold. The company launched 11 new projects with a combined gross development value (GDV) exceeding Dh11 billion, adding over 7,000 units and 6 million square feet of sellable area to its portfolio. As of September 30, Binghatti had 27 projects under development, encompassing over 20,000 units and 17 million square feet, with an estimated GDV of Dh44 billion. The company's revenue backlog reached approximately Dh14 billion, supported by robust sales to both local and international buyers, with non-resident investors accounting for about 60% of total sales.

Binghatti's financial position strengthened considerably, with total assets growing 73% year-to-date to Dh22 billion and cash and cash equivalents more than doubling to Dh7.7 billion. Total equity rose 84% to Dh5.8 billion, and the debt-to-equity ratio stood at 1.2x. The company also bolstered its funding through oversubscribed sukuk issuances, including a $500 million Green Sukuk to support sustainable developments. Moody’s and Fitch reaffirmed Binghatti’s stable outlook, citing strong liquidity and disciplined capital management.

Company leadership attributed the success to Dubai's strong economic fundamentals and Binghatti's integrated business model. They anticipate continued growth, supported by Dubai's strategic economic initiatives and the rising demand from both local and international investors, signaling a shift toward a more sustainable property cycle.