- Ceremony led by founder Dr Hussain BinGhatti
- Sukuk issued at 8.125% profit rate
- Part of USD 1.5 billion programme
Binghatti Holding Ltd (“Binghatti Holding”), a major UAE property developer, has celebrated the listing of its USD 500 million 5-year Senior Unsecured Sukuk on the London Stock Exchange with a bell-ringing event, highlighting an important step in its global funding strategy.
The sukuk is issued under the USD 1.5 billion Trust Certificate Issuance Programme and was met with exceptional demand, achieving a fivefold oversubscription and attracting USD 2.5 billion in total orders. It carries a profit rate of 8.125%, with Binghatti rated BB- by Fitch and Ba3 by Moody’s, both stable.
The London event featured Dr Hussain BinGhatti, Muhammad BinGhatti, Katralnada BinGhatti, senior executives, and lead arrangers. Nasdaq Dubai will also host a secondary listing.
Muhammad BinGhatti, Chairman of Binghatti Holding, commented: “The listing of our sukuk on the London Stock Exchange is a clear signal of Binghatti’s commitment to engaging proactively with global investors and operating at the highest standards of transparency and governance. The landmark sukuk issuance enjoyed strong international demand, allowing us to close the books ahead of schedule and reinforcing market confidence in our credit profile, operational resilience, and growth strategy. As we scale our business and diversify our development portfolio, access to deep, liquid, and global capital markets is central to our financial strategy. Today’s listing marks another important step in broadening our investor base and strengthening our global footprint.”
Katralnada BinGhatti, Chief Executive Officer of Binghatti Holding, added:
“Binghatti’s sukuk programme reflects our commitment to diversifying the company’s funding base, extending our maturity profile, and efficiently deploying capital to capture emerging opportunities. The five-times oversubscription and strong demand from institutional investors across Europe, Asia, and the Middle East signal a clear endorsement of our vertically integrated business model. With close to 50% of allocations going to non-GCC investors, we are pleased to see growing global recognition of Binghatti’s unique positioning in Dubai’s real estate sector. As we grow our portfolio and redefine luxury living in Dubai, we will continue to maintain prudent leverage and strong corporate governance.
The sukuk launch follows robust H1 2025 performance, with net profit surging over threefold to AED 1.82 billion, revenues up 189% to AED 6.3 billion, and total sales hitting AED 8.8 billion.
Seven new projects were announced in H1, five delivered, and 15 handed over in 18 months. With AED 12.5 billion in backlog and a project pipeline of AED 70 billion, Binghatti maintains a strong position in Dubai’s market.
The acquisition of a 9 million sq. ft. plot in Nad Al Sheba 1 will enable the firm’s first master-planned community, valued at over AED 25 billion.
