Binghatti net profit surges 172% in first half on continued demand
Net profit in the first half of 2025 rose 172 per cent year-on-year to Dh1.82 billion, compared to Dh668 million in the same period last year. Total sales reached Dh8.8 billion, representing a 60 per cent year-on-year increase, while revenue surged almost threefold to Dh6.3 billion, making the Company one of the fastest growing in Dubai's real estate market.
The Group also saw strong expansion of its development pipeline. As of 30 June 2025, Binghatti's revenue backlog reached Dh12.5 billion, compared to Dh6.6 billion in the same period last year. The surge in backlog was driven by the launch of seven new projects, while five projects were successfully delivered during the first half, handing over 1,441 units into the market.
Branded residence drive global investor demand
Binghatti's flagship branded residences, developed in collaboration with world-renowned luxury partners Bugatti, Mercedes-Benz, and Jacob & Co. continue to resonate with global customers.
In H1 2025, 61 per cent of Binghatti's sales were made to non-resident buyers, up from 55 per cent a year earlier, underscoring Dubai's safe-haven appeal and Binghatti's pro-active marketing, which include the launch of a London sales office in July. Leading buyer nationalities in H1 2025 included India, Turkey and China.
While international investors continue to play a growing role in driving sales, Binghatti also continued to benefit from strong local demand, supported by the UAE's expanding population, and ongoing investment in infrastructure and housing accessibility. The company continued to broaden its domestic customer base by improving affordability and access to high-quality real estate developments.
In May, Binghatti signed a Memorandum of Understanding with Abu Dhabi Islamic Bank (ADIB) to offer Sharia-compliant home financing solutions tailored to both ready and off-plan residential units. Under the agreement, eligible buyers will be able to secure financing once construction reaches 35 per cent completion and 50 per cent of payments have been made, a flexible structure designed to unlock new demand among UAE-based homeowners and investors.
The company was selected in July by the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) as one of 13 developers participating in the newly launched First-Time Home Buyer (FTHB) Programme. As part of this initiative, Binghatti has committed to allocating at least 10 per cent of its newly launched and existing residential units priced under Dh5 million exclusively to eligible first-time buyers.
In July, Binghatti also became a founding partner of the Dubai PropTech Hub, a joint initiative of the DIFC Innovation Hub and the Dubai Land Department. The Hub, which aims to attract $300 million in venture capital by 2030, will position Binghatti at the forefront of real estate innovation through access to emerging technologies such as AI, blockchain, and sustainable smart infrastructure. As a founding partner, Binghatti will benefit from early engagement with next-generation PropTech start-ups through the Hub's Living Lab, Scale-up Accelerator, and bespoke innovation programs.
Binghatti currently has around 20,000 units under development across about 30 projects in prime residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Meydan, Dubai Science Park, Dubai Production City, and Sports City.
During the first half, Binghatti launched seven new projects featuring 5,000 units spread over 3.8 million square feet and and handed over five developments comprising 1,441 units over 1 million square feet. The company acquired a landmark megaplot in Nad Al Sheba 1, in the heart of Dubai's sought-after Meydan district with over 9 million square feet of gross floor area, which will serve as the foundation for its first master-planned residential community in Dubai with a total development value of over Dh25 billion.
In the first half of 2025, Binghatti's credit profile was formally recognised by leading global rating agencies. In March, Moody's Ratings assigned Binghatti a first-time Ba3 Corporate Family Rating (CFR) with a stable outlook, citing the company's strong market position in Dubai's luxury real estate sector. Shortly after, Fitch Ratings upgraded Binghatti's Long-Term Issuer Default Rating (IDR) and senior unsecured debt to BB- from B+, also with a stable outlook.
'The first half of 2025 has been a period of exceptional growth for Binghatti Holding and the extraordinary year-on-year growth of our net profit and revenue is a reflection of the market's confidence in our differentiated model, one that is built around architectural excellence, speed of execution, and integrated value creation across the entire real estate ecosystem. As Dubai continues to attract global capital and high-net-worth individuals, our developments have become increasingly relevant to an international audience. The rising share of non-resident buyers speaks volumes about both our reach and Dubai's position as a safe, fast-growing investment destination,' said Muhammad BinGhatti, Chairman.
'Our H1 2025 results and operational achievements underscore the discipline, agility, and long-term thinking that drive every aspect of our business. Launching seven projects and handing over four in just six months demonstrates our operational leadership in the market and our deep commitment to on time delivery. Our growing backlog, diversified landbank, and expanding portfolio of unique branded residences created in partnership with global icons Bugatti, Mercedes-Benz Jacob & Co. provide the market with luxury living, investment value and architectural distinction,' said Katralnada Binghatti, CEO
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