Binghatti Holding Set to Launch US Dollar Sukuk

Binghatti Holding Set to Launch US Dollar Sukuk

Binghatti, a prominent Emirati property development company headquartered in Dubai, is preparing for a significant financial milestone as it plans to launch its inaugural US Dollar Sukuk in the coming days, subject to market conditions, Invest-Gate reports.

This move demonstrates the company’s strategic initiative to diversify its funding sources.

Emirates NBD, Dubai Islamic Bank, Abu Dhabi Islamic Bank, HSBC, Mashreq, Sharjah Islamic Bank, and RAKBANK have been appointed as Joint Lead Managers and bookrunners for the anticipated debut debt capital markets transaction.

The first-ever issuance of the US dollar sukuk by Binghatti is expected to be of benchmark size, with a three-year maturity.

This endeavor further solidifies the company’s commitment to exploring innovative avenues for capital raising while adhering to the principles of Sharia-compliant finance.

Recently, Binghatti Holding successfully concluded a non-deal roadshow, engaging with fixed-income investors in Hong Kong and London. Additionally, Fitch Ratings assigned Binghatti Holding a B+ credit rating with a positive outlook.

Binghatti’s project offering in the uber-luxury segment includes branded developments in collaboration with global luxury brands such as Bugatti, Mercedes-Benz, and Jacob & Co. These branded developments mark the first-ever entry of these global brands into the real estate industry.

The total project value of Binghatti’s branded uber-luxury developments is approximately AED 17.4 bn.

Additionally, the company’s developments in the mainstream and luxury segments contribute an additional value of around AED 13.8 bn, bringing the total value of its diverse project portfolio to over AED 31.2 bn.

The CEO expressed enthusiasm about the upcoming sukuk issuance, highlighting the company’s strong financial position and market reputation.

With the planned debut of the US dollar sukuk, Binghatti enters a new phase of growth, catalyzed by strategic investments and a dedication to delivering value to stakeholders.


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