Binghatti Logs Record USD 495 Million Profit in H1 2025, Profits Surge 172%

Dubai, UAE - July 22, 2025 – Dubai-based real estate developer Binghatti Holding Ltd., has announced record-breaking financial results for the first half of 2025. The company’s net profit surged by 172% year-on-year to USD 495 million (AED 1.82 billion), compared to USD 181.8 million (AED 668 million) during the same period in 2024.

Total sales climbed to USD 2.4 billion (AED 8.8 billion), a 60% increase year-on-year, while revenue jumped nearly threefold to USD 1.7 billion (AED 6.3 billion), further cementing Binghatti’s position as one of the fastest-growing players in Dubai’s real estate sector.

Development Pipeline Nearly Doubles

As of June 30, 2025, Binghatti’s revenue backlog expanded significantly to USD 3.4 billion (AED 12.5 billion), up from USD 1.8 billion (AED 6.6 billion) last year. This growth was driven by the launch of seven new projects and the successful delivery of five developments, bringing 1,441 residential units to market.

Branded Residences and Global Investor Appeal

Binghatti’s rapid expansion has been fueled by a strategic focus on branded luxury residences. Collaborations with Bugatti, Mercedes-Benz, and Jacob & Co. have positioned the company as a magnet for international investors. High-profile clientele includes global figures such as Neymar Jr. and Andrea Bocelli.

“The first half of 2025 has been a period of exceptional growth for Binghatti Holding and the extraordinary year‑on‑year growth of our net profit and revenue is a reflection of the market’s confidence in our differentiated model, which integrates architectural excellence, speed of execution, and integrated value creation across the entire real estate ecosystem,” said Muhammad BinGhatti, Chairman of Binghatti Holding.

He added, “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.”

In the first half of the year, 61% of Binghatti’s sales were to non-resident buyers, up from 55% in H1 2024. Key buyer nationalities included investors from India, Turkey, and China. In July, the company opened a new sales office in London to boost international reach.

Financing Solutions and Homeownership Support

In May, Binghatti partnered with Abu Dhabi Islamic Bank to offer Sharia-compliant home financing tailored to both ready and off-plan units. Under the agreement, financing can be secured once construction reaches 35% completion and 50% of payments have been made.

Furthering its commitment to accessibility, Binghatti joined the Dubai Land Department and Department of Economy and Tourism’s First-Time Home Buyer (FTHB) Programme, allocating at least 10% of residential units under USD 1.36 million (AED 5 million) for eligible first-time buyers. These units will be made available prior to public sales launches, accompanied by exclusive incentives and discounts for both Emiratis and expatriates.

Technology Investment and Innovation Push

Binghatti also became a founding partner of the Dubai PropTech Hub, launched by DIFC Innovation Hub and Dubai Land Department. The initiative aims to attract USD 300 million in PropTech venture capital by 2030. Through the Hub’s Living Lab and innovation programs, Binghatti will gain early access to technologies such as AI, blockchain, and smart infrastructure solutions.

Project Launches and Landmark Land Acquisition

Currently, Binghatti has approximately 20,000 units under development across 30 projects in Dubai locations including Downtown, Business Bay, JVC, Al Jaddaf, Meydan, and Dubai Production City. In H1 2025, the developer launched seven new projects totaling 5,000 units and delivered five with 1,441 units.

A milestone for the company was the acquisition of a megaproject plot in Nad Al Sheba 1, located in Meydan, with over 9 million square feet of gross floor area. The plot will serve as the foundation for Binghatti’s first master-planned residential community in Dubai, with a total value exceeding USD 6.8 billion (AED 25 billion).

Strengthened Credit Ratings

In March 2025, Moody’s Ratings assigned Binghatti a first-time Ba3 Corporate Family Rating with a stable outlook, citing its vertically integrated model and financial prudence. The rating emphasized Binghatti’s low leverage, solid liquidity, and disciplined cost control.

Fitch Ratings followed shortly after, upgrading the company’s Long-Term Issuer Default Rating to BB– from B+, also with a stable outlook. It noted Binghatti’s low net debt-to-EBITDA ratio of just 0.8x and its ability to self-fund development through strong internal cash flows.

Both agencies acknowledged the company’s enhanced governance and credibility from its inaugural USD 500 million sukuk, listed on the London Stock Exchange and Nasdaq Dubai.

Market Outlook Remains Strong

As of June 2025, Dubai’s population reached 3.75 million and is projected to surpass 4 million by the end of 2026. Despite 19,700 new residential units delivered in H1 2025, mostly in JVC, Al Merkadh, and Business Bay supply continues to lag demand, especially in premium and core areas.