Binghatti Reports Record Profit Amid Dubai Real Estate Boom
Binghatti Holding Ltd has announced impressive financial results for the first nine months of 2025, showcasing a significant increase in profitability and sales. The company’s performance reflects the ongoing strength of Dubai’s real estate market, marked by accelerated sales and timely project completions.
Financial Highlights
Binghatti reported a remarkable 145% increase in net profit, totaling Dh2.66 billion compared to the same period last year. This achievement marks the company’s strongest financial performance to date. Revenue surged to Dh8.96 billion, nearly tripling from Dh3.77 billion in 2024. The gross profit also saw a substantial rise of 143%, reaching Dh3.95 billion, while EBITDA increased by 139% to Dh3.28 billion. The company maintained robust margins, with gross margins at 44%, EBITDA margins at 37%, and net margins at 30%.
In the third quarter alone, Binghatti generated Dh2.64 billion in revenue, reflecting a 67% year-on-year increase. The net profit for this quarter stood at Dh839 million, which is a 101% increase compared to Q3 2024.
Sales Performance
During the first nine months of 2025, Binghatti sold approximately 12,000 units, solidifying its position as Dubai’s leading off-plan developer by units sold. The company launched 11 new projects with a total gross development value (GDV) exceeding Dh11 billion, encompassing over 7,000 units and 6 million square feet of sellable area.
As of September 30, Binghatti had 27 projects under development, representing a 29% increase since the end of 2024. These projects cover more than 20,000 units and 17 million square feet, with an estimated GDV of Dh44 billion. Additionally, the company has 11 projects in the planning stages, which will contribute around 18,000 units and Dh30 billion in GDV.
Strong Financial Position
Binghatti’s revenue backlog is approximately Dh14 billion, bolstered by strong sales to both local and international buyers. Notably, non-resident investors accounted for about 60% of total sales. The company’s total assets grew by 73% year-to-date, reaching Dh22 billion, while cash and cash equivalents more than doubled to Dh7.7 billion. Total equity increased by 84% to Dh5.8 billion, and the debt-to-equity ratio is currently at 1.2x.
Credit rating agencies Moody’s and Fitch have reaffirmed Binghatti’s stable outlook, citing the company’s strong liquidity and disciplined capital management.
Leadership Insights
CEO Katrana BinGhatti characterized this period as a “defining phase of growth,” attributing the company’s success to Dubai’s solid economic fundamentals and Binghatti’s integrated business model. CFO Shehzad Janab emphasized the firm’s commitment to margin discipline and capital strength, noting that with cash balances exceeding Dh7.7 billion, Binghatti is well-positioned for its next growth phase.
The company anticipates continued growth, supported by Dubai’s Economic Agenda D33, the Real Estate Strategy 2033, and the 2040 Urban Master Plan. The rising trend of homeownership and steady international capital inflows are driving demand among end-users, indicating a shift towards a more sustainable property cycle.
FAQs
What factors contributed to Binghatti’s record profit?
Binghatti’s record profit can be attributed to accelerated sales, early project handovers, and a strong performance in Dubai’s real estate market.
How many units did Binghatti sell in 2025?
In the first nine months of 2025, Binghatti sold approximately 12,000 units, making it the top-selling off-plan developer in Dubai.
What is Binghatti’s outlook for future growth?
Binghatti expects sustained growth driven by Dubai’s Economic Agenda D33 and increasing demand from both local and international buyers.
Conclusion
Binghatti Holding Ltd’s remarkable financial performance in 2025 underscores the resilience of Dubai’s property market and the company’s strategic initiatives. With a strong sales pipeline and a solid financial foundation, Binghatti is poised for continued growth in the coming years.
The Dubai real estate market has experienced a notable resurgence, fueled by various factors including population growth, increased foreign investment, and government initiatives aimed at enhancing the business environment. This has created a favorable climate for developers like Binghatti, who have capitalized on the demand for residential properties. The city’s strategic location, coupled with its status as a global business hub, continues to attract both expatriates and investors.
Binghatti’s success is also indicative of broader trends within the UAE’s real estate sector, where developers are increasingly focusing on sustainability and innovative design. As the market evolves, companies are adapting their strategies to meet the changing preferences of buyers, particularly in terms of amenities and lifestyle offerings. This shift is expected to further drive competition among developers, enhancing the overall quality of projects available in the market.
Looking ahead, industry experts anticipate that the real estate sector in Dubai will remain robust, supported by ongoing infrastructure developments and a commitment to enhancing urban living. As Binghatti and other developers navigate this dynamic landscape, their ability to respond to market demands will be crucial in maintaining their competitive edge and ensuring long-term success.
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