Binghatti Holding Ltd, a leading UAE real estate developer, reported record financial results for the nine months ended 30 September 2025, driven by strong sales performance, accelerated project deliveries, and a diversified development portfolio, Invest-Gate reports.
Revenue nearly tripled year-on-year to AED 8.96bn, compared with AED 3.77bn in the same period of 2024. Gross profit rose 143% to AED 3.95bn, while EBITDA grew 139% to AED 3.28bn. Net profit surged 145% year-on-year to AED 2.66bn, highlighting the company’s robust operating leverage and disciplined cost control. In the third quarter alone, revenue increased 67% to AED 2.64bn and net profit doubled to AED 839mn.
The company attributed this strong performance to continued market demand, ahead-of-schedule project handovers, and high absorption rates across core developments. Sales momentum from 11 newly launched projects, along with the success of its diversified product mix, has reinforced Binghatti’s position as one of the most profitable and fastest-growing private developers in the region, supported by one of the industry’s quickest cash conversion cycles and streamlined execution capabilities.
Throughout the period, Binghatti recorded approximately 12,000-unit sales, maintaining its rank as Dubai’s top-selling developer by units sold. It launched 11 new projects with a combined Gross Development Value of nearly AED 11bn, comprising more than 7,000 residential units and around 6.0mn sq. ft. of sellable area. Revenue backlog stood at about AED 14bn as of 30 September 2025, supported by sustained demand from both domestic and international buyers. Non-resident investors accounted for around 60% of total sales, demonstrating Dubai’s growing appeal as a global investment destination.
The company continues to expand its development footprint at a rapid pace, with 27 projects under development as of the end of September, compared with 21 at year-end 2024. These projects include over 20,000 residential units and more than 17.0mn sq. ft. of sellable area, carrying a combined GDV of around AED 44bn. Its future pipeline remains strong, featuring 11 projects in advanced planning phases across key districts including Palm Jumeirah, Nad Al Sheba, Al Jaddaf, Arjan, and Wadi Al Safa, with more than 18,000 units, over 12.0mn sq. ft. and a GDV of approximately AED 30bn.
Binghatti’s financial position also strengthened significantly. Total assets grew 73% year-to-date to AED 22.0bn, while total equity increased 84% to AED 5.8bn. Cash and cash equivalents more than doubled to AED 7.7bn, reflecting prudent liquidity management. Total debt reached AED 7.0bn, maintaining a healthy debt-to-equity ratio of 1.2x. The Group continues to operate with strong profitability metrics, including gross margin of 44%, EBITDA margin of 37% and net margin of 30%, placing it among the region’s most efficient developers.
The company has also diversified its funding sources through two massively oversubscribed sukuk issuances, including a dual-listed USD 500mn Green Sukuk dedicated to financing sustainable developments under its Green Financing Framework. Moody’s and Fitch have reaffirmed Binghatti’s stable outlook, citing strong liquidity, disciplined financial controls, and the ability to self-finance growth through internally generated cash flows.
Dubai’s real estate market continues to outperform global peers, driven by solid population growth, rising homeownership trends, and strong capital inflows. Long-term economic initiatives including the Dubai Economic Agenda D33 and the Dubai 2040 Urban Master Plan continue to support structural demand and reinforce investor confidence. As one of the UAE’s fastest-growing developers, Binghatti’s integrated structure, financial strength, and operational efficiency continue to differentiate its business model, positioning the company to sustain its strong performance into 2026 and beyond.