Binghatti Holding's USD 500 Million Benchmark Sukuk Begins Trading on the London Stock Exchange
The sukuk, issued under Binghatti's USD 1.5 billion Trust Certificate Issuance Programme, was oversubscribed five times, attracting over USD 2.5 billion in orders from a diverse pool of regional and global investors. The issuance was priced with a profit rate of 8.125%, reflecting investor confidence in Binghatti's robust financial position. The company is rated BB- by Fitch and Ba3 by Moody's, both with stable outlooks.
Founder Dr Hussain BinGhatti, Chairman Muhammad BinGhatti and Chief Executive Officer Katralnada BinGhatti, accompanied by other senior executives and lead arrangers, rang the opening bell at the London Stock Exchange to celebrate the listing. The Sukuk will also be listed on Nasdaq Dubai.
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, commented:
'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 successful issuance and the strong demand come on the back of Binghatti Holding's strong H1 2025 results. During the first half, the company's net profit more than tripled to AED 1.82 billion, driven by resilient demand for Dubai real estate. The Group's total sales reached AED 8.8 billion, with revenue climbing 189% YoY to AED 6.3 billion.
The Group launched seven new projects and delivered five developments in H1 alone, handing over 15 projects in the last 18 months. Its AED 12.5 billion revenue backlog and over AED 70 billion development portfolio position it as one of Dubai's leading developers. Binghatti currently has approximately 20,000 units under development across 30 projects in prime Dubai locations including Downtown, Business Bay, Jumeirah Village Circle, and Meydan, as well as its flagship branded residences in collaboration with luxury partners Bugatti, Mercedes-Benz, and Jacob & Co.
The company's development pipeline was further reinforced by the recent acquisition of approximately 9 million sq. ft. megaplot in Nad Al Sheba 1, which will host Binghatti's first master-planned community, with a projected development value of over AED 25 billion.
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