Binghatti’s $500 Million Sukuk 5x Oversubscribed Amid Investor Confidence

Dubai, UAE – August 1, 2025 - Binghatti Holding Ltd (“Binghatti Holding”), one of the UAE’s fastest-growing real estate developers, has successfully priced a USD 500 million 5-year Senior Unsecured Sukuk under its USD 1.5 billion Trust Certificate Issuance Programme, marking a major milestone in the company’s financial journey. The sukuk offering, which was oversubscribed by 5 times, garnered over USD 2.5 billion in orders from both regional and international investors.

The Regulation S Sukuk was priced at a profit rate of 8.125%, reflecting a spread of 418 basis points over the prevailing 5-year US Treasury yield. The issuance tightened significantly from its initial guidance of 8.500%, signaling strong market confidence in Binghatti’s creditworthiness and strategic outlook. The Sukuk will be listed on both Nasdaq Dubai and the London Stock Exchange.

“Binghatti’s landmark sukuk marks a pivotal milestone in our journey, reinforcing our position as one of the region’s most dynamic and diversified developers,” said Muhammad BinGhatti, Chairman of Binghatti Holding. “The strong demand and investor trust shown in the USD 500 million issue from our sukuk programme highlights Binghatti’s unique model, a vertically integrated platform underpinned by phenomenal growth and market-leading execution.”

The company carries a Ba3 rating from Moody’s and a BB- rating from Fitch, both with stable outlooks, reflecting its financial strength and long-term credibility.

Ahmed Abdelaal, Group CEO of Mashreq, commented: “We are proud to have played a pivotal role in Binghatti’s return to the sukuk market, having supported their journey since their inaugural issuance last year. The exceptional investor response—both regional and international—underscores the strong appetite for the Dubai growth story and confidence in Binghatti’s trajectory. This landmark issuance not only affirms their access to global capital markets but also establishes a new 5-year benchmark for the sector.”

Strong Financials in H1 2025

In addition to its successful capital raise, Binghatti posted strong H1 2025 financial results, with net profit more than tripling to USD 496 million (AED 1.82 billion). The company’s total sales reached USD 2.4 billion (AED 8.8 billion), while revenue surged 189% year-on-year to USD 1.7 billion (AED 6.3 billion).

During the first half of 2025, the developer launched seven new projects and delivered five developments, contributing to 15 total project handovers over the past 18 months. Binghatti currently has a revenue backlog of USD 3.4 billion (AED 12.5 billion) and a development portfolio exceeding USD 19 billion (AED 70 billion).

Expanding Portfolio & Landmark Collaborations

Binghatti currently has approximately 20,000 units under development across 30 projects in prime Dubai locations such as Downtown, Business Bay, Jumeirah Village Circle, and Meydan. The firm’s pipeline includes several high-profile branded residences developed in partnership with Bugatti, Mercedes-Benz, and Jacob & Co.

Further expanding its footprint, Binghatti recently acquired a 9 million sq. ft. megaplot in Nad Al Sheba 1, which will be transformed into its first master-planned community, with an estimated development value of over USD 6.8 billion (AED 25 billion).

This combination of robust financial performance, strong investor confidence, and bold expansion underpins Binghatti’s growing stature in the regional and global real estate markets.