Dubai’s leading real estate developer, Binghatti, announces a highly successful Sukuk tap on July 8, significantly boosting its financial standing, Invest-Gate reports.

The tap was linked to Binghatti’s initial February 2027 $300 mn Sukuk issuance, which debuted on the London Stock Exchange (ISM) and NASDAQ Dubai and was over 200% oversubscribed. The recent tap increases Binghatti’s total Sukuk deal size to $500 mn, with demand reaching approximately 4.2 times the oversubscription rate.

Moreover, the intense interest in Binghatti’s Sukuk led to a price reduction of around 20 basis points, reflecting robust demand from regional and international investors. Remarkably, almost 40% of the interest came from international investors, underscoring the global confidence in Binghatti’s financial instruments.

Furthermore, Binghatti’s strategic collaborations with globally renowned brands, such as automotive giants BUGATTI and Mercedes-Benz and luxury jewellery and watch brand Jacob & Co., have further increased market interest. These partnerships exemplify Binghatti’s innovative approach to property development, attracting attention from high-end clientele and investors alike. Binghatti’s portfolio is valued at approximately AED 40 bn, solidifying its position as a market leader.

“We are pleased with the exceptional response to our Sukuk tap, highlighting the continued confidence and trust that both regional and global investors have in Binghatti. The oversubscription and favourable pricing reflect our solid market position and the strength of our brand. We remain committed to delivering value to all of our stakeholders and driving growth in the real estate sector,” said Muhammad BinGhatti, Chairman of Binghatti.

Notably, the record-breaking demand for Binghatti’s Sukuk reflects its strong market position and innovative development strategies, further establishing its reputation in the global real estate market.