In a remarkable show of confidence in Dubai‘s thriving real estate sector, Binghatti Holding has successfully raised $500 million through a five-year senior unsecured sukuk that was five times oversubscribed. This unprecedented interest, with more than $2.5 billion in orders from both regional and international investors, underscores the optimistic outlook for the Dubai property market and Binghatti’s ambitious growth plans.
Binghatti’s sukuk, issued under its $1.5 billion Trust Certificate Issuance Programme, achieved a profit rate of 8.125 percent, a notable adjustment from the initial forecast of 8.5 percent, aligning with a spread of 418 basis points over the five-year US Treasury yield.
Dubai Developer Secures $500M Sukuk Success
Notably, half of the demand for the sukuk came from international investors, reflecting a robust belief in the potential of Binghatti’s expansion and the overall health of Dubai’s property market.
With a Ba3 rating from Moody’s and a BB- rating from Fitch, both with stable outlooks, Binghatti plans to list the sukuk on Nasdaq Dubai and the London Stock Exchange.
Muhammad BinGhatti, Chairman of Binghatti Holding, emphasized the significance of this achievement, stating, “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.” He added, “The strong demand and investor trust shown in the $500 million issue from our sukuk programme highlight Binghatti’s unique model, a vertically integrated platform underpinned by phenomenal growth and market-leading execution.”
Ahmed Abdelaal, CEO of Mashreq Group, which advised on the transaction, remarked, “The exceptional investor response—both regional and international—underscores the strong appetite for the Dubai growth story and confidence in Binghatti’s trajectory.”
This issuance follows a record performance by Binghatti in the first half of 2025, where its net profit tripled to AED 1.82 billion. The company reported a staggering 189 percent year-on-year increase in revenue, reaching AED 6.3 billion against AED 8.8 billion in total sales.
During this period, Binghatti launched seven new projects and delivered five developments, accumulating a substantial revenue backlog totaling AED 12.5 billion and boasting a development portfolio exceeding AED 70 billion.
Currently, Binghatti is managing around 20,000 units across 30 projects in Dubai, including high-profile branded residences in collaboration with luxury brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Recently, the company secured a 9 million square foot plot in Nad Al Sheba 1 for its inaugural master-planned community, with an impressive projected development valuation of AED 25 billion.