Latest news with #luxuryrealestate
Khaleej Times
2 hours ago
- Business
- Khaleej Times
Binghatti net profit surges 172% in first half on continued demand
Binghatti Holding Ltd, a leading UAE luxury real estate developer, on Tuesday reported year-on-year profit and revenue almost tripling for the first half of 2025, driven by the continued demand for its projects. 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
Bloomberg
2 hours ago
- Business
- Bloomberg
Billionaire Thomson Family to Buy £25 Million Luxury London Apartment
A member of the multibillionaire family behind Thomson Reuters Corp. agreed to buy a high-end London apartment for about £25 million ($34 million), in the latest sign of North Americans bolstering the city's luxury market. The Thomson family member — whose exact identity is unclear — agreed to purchase the sprawling single-level flat in Mayfair earlier this year, people familiar with the matter said, asking not to be named as the information is private. A representative for the Thomson family didn't respond to a request for comment.
Arabian Business
9 hours ago
- Business
- Arabian Business
Dubai developer Binghatti reports 172% net profit surge to record $495mn in H1 2025
Binghatti Holding Ltd posted a net profit of AED 1.82 billion for the first half of 2025, marking a 172 per cent increase from AED 668 million in the same period last year. The UAE luxury real estate developer reported total sales of AED 8.8 billion, up 60 per cent year-on-year, whilst revenue climbed 189 per cent to AED 6.3 billion. The company's revenue backlog reached AED 12.5 billion as of June 30, 2025, compared to AED 6.6 billion in the previous year. Muhammad BinGhatti, Chairman of Binghatti Holding Ltd, said in a statement: '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.' He added: '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. 'Meanwhile, our expansion into regulated asset management through the launch of Binghatti Capital is an operational milestone that represents a leap forward in how we fund and structure our expanding development portfolio. With the acquisition of our Nad Al Sheba megaplot, we are laying the foundations for our next chapter, one that will be defined by creating master-planned curated communities that will shape the future of luxury living.' Binghatti advances Dubai real estate portfolio The company launched seven projects during the six-month period and delivered four developments, handing over 1,441 units to the market. Binghatti currently has approximately 20,000 units under development across 30 projects in areas including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Meydan, Dubai Science Park, Dubai Production City, and Sports City. Non-resident buyers accounted for 61 per cent of sales in H1 2025, up from 55 per cent in the previous year. The leading buyer nationalities included India, Turkey and China. The company opened a London sales office in July to support its international expansion. Binghatti's branded residences, developed with Bugatti, Mercedes-Benz, and Jacob & Co., attracted buyers including Brazilian footballer Neymar Jr. and opera singer Andrea Bocelli. The company launched BinGhatti Capital, a DFSA-regulated firm headquartered in DIFC, targeting $1 billion in private credit and real estate strategies. CEO Katralnada Binghatti added: 'BinGhatti Holding sets itself apart in the market by being active across the entire real estate ecosystem, from land acquisition and architectural design, through construction, sales, and aftercare, all the way to capital structuring and institutional fundraising.' In May, the company signed a memorandum of understanding with Abu Dhabi Islamic Bank (ADIB) to offer Sharia-compliant home financing solutions. Under the agreement, eligible buyers can secure financing once construction reaches 35 per cent completion and 50 per cent of payments have been made. Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) selected Binghatti as one of 13 developers for the First-Time Home Buyer (FTHB) Programme. The company committed to allocating at least 10 per cent of newly launched and existing residential units priced under AED 5 million to eligible first-time buyers. Binghatti became a founding partner of the Dubai PropTech Hub, a joint initiative of the DIFC Innovation Hub and the Dubai Land Department. The hub aims to attract $300 million in venture capital by 2030. The company acquired a megaplot in Nad Al Sheba 1 in the Meydan district, covering over 9 million square feet of gross floor area. This will serve as the foundation for its first master-planned residential community in Dubai with a total development value exceeding AED 25 billion. Stable outlook on strong finances In March, Moody's Ratings assigned Binghatti a first-time Ba3 Corporate Family Rating (CFR) with a stable outlook. Fitch Ratings upgraded the company's Long-Term Issuer Default Rating (IDR) and senior unsecured debt to BB- from B+, also with a stable outlook. Both agencies recognised the company's low net debt-to-EBITDA ratio of 0.8x and its ability to self-fund future projects through internally generated cash flows. Dubai's population surpassed 3.75 million as of June 2025 and is expected to exceed 4 million by the end of 2026. Over 19,700 new residential units were handed over in the first half of 2025, primarily in JVC, Al Merkadh and Business Bay. Binghatti CEO added: 'With continued robust demand for Dubai real estate amid the steady growth of the Emirate's population, and a strong funding platform in place, we are well-positioned to meet the rising demand for across the entire real estate product spectrum.' The company has delivered over 12,000 residential units since inception and maintains a portfolio of more than 80 projects valued at over AED 70 billion.
Zawya
10 hours ago
- Business
- Zawya
UAE-born brand Almal Real Estate Development to make international debut
As part of the developer's ambitious 2030 global growth strategy, the upcoming residential resort-style living concept represents a new chapter for UAE-based innovation, as Almal becomes part of a growing movement of homegrown brands going international Dubai, UAE: UAE-grown luxury real estate developer, Almal Real Estate Development, announces its strategic international expansion with the launch of its debut project in Southeast Asia — The One by Almal in Bali, Indonesia. This marks the brand's first step into the region, with additional developments already in the pipeline across Thailand, Vietnam, the Philippines, Seychelles, and Mauritius. Revealed as part of Almal's 2030 global growth strategy, this project highlights the UAE's rising influence in international real estate and shows how homegrown developers like Almal are reshaping design-led, lifestyle-driven living worldwide. Located in Nusa Dua's exclusive coastal enclave, 'The One by Almal' presents a residential resort-style living concept, offering a refined retreat where luxury, culture, and connection collide. Comprising sophisticated private residences, villas, and townhouses with curated resort services, immersive wellness programs, and signature dining destinations, the brand's first project overseas will deliver an elevated beachfront lifestyle designed for discerning residents and travellers. Building on this momentum, the UAE-based developer has also announced plans to expand across Southeast Asia, with future destinations confirmed in Thailand, Vietnam, the Philippines, Seychelles, and Mauritius. Additionally, Almal is reimagining how people engage with real estate by offering tailored investment avenues. Launching soon, 'The One' app will serve as a digital platform for investors to explore upcoming projects, making its global portfolio more accessible to clients in the UAE and beyond. Dmitriy Starovoitov, Founder of Almal Real Estate Development, shared, 'We've had the opportunity to create incredible projects in the UAE, and now feels like the right time to take that vision to the global market. As we step into this next chapter, we carry forward everything we've learned from the UAE's dynamic market and apply it to these exciting new opportunities.' Founded in 2022, Almal Real Estate Development set out to elevate the standards of luxury hospitality and real estate in the UAE and is now expanding that vision internationally. Its growing portfolio includes standout projects such as The Unexpected Al Marjan Island Hotel & Residence in Ras Al Khaimah, which achieved record-breaking sales, and Harrisoni Villas in Dubai, an ultra-exclusive beachfront collection with villas valued at over $30 million each. With the launch of 'The One by Almal' in Bali, Almal Real Estate Development is introducing its next-generation lifestyle residences to the world. Designed to meet the evolving needs of modern residents and travellers, the project reflects the brand's unique approach to real estate, creating spaces that deliver one-of-a-kind experiences. As Almal continues to grow its international presence, it remains deeply rooted in its UAE origins, bringing the region's distinctive flair for design and luxury to new markets and showcasing the power of homegrown brands to shape the future of global real estate.
Economy ME
10 hours ago
- Business
- Economy ME
Binghatti Holding sees record AED 1.82 billion profit in first half of 2025
Binghatti Holding, one of the UAE's leading luxury real estate developers, has reported record-breaking financial results for the first half of 2025, with net profit and revenue nearly tripling year-on-year. The performance was fueled by sustained demand for Binghatti's high-end developments, specifically its branded residences in partnership with global luxury icons. The company's net profit surged 172 percent to AED 1.82 billion, up from AED 668 million in H1 2024. Revenue rose nearly threefold to AED 6.3 billion, while total sales climbed 60 percent year-on-year to AED 8.8 billion, solidifying Binghatti's position as one of the fastest-growing players in Dubai's dynamic real estate market. Binghatti's development pipeline also expanded significantly, with the revenue backlog reaching AED 12.5 billion as of June 30, 2025 — nearly doubling from AED 6.6 billion a year earlier. The jump was attributed to the launch of seven new projects, while five were delivered in the first half of the year, adding 1,441 units to the market. Binghatti's total sales increased 60 percent YoY to AED 8.8 billion Read: Binghatti launches first International Sales Boutique in the U.K. to attract global investors Chairman Muhammad Binghatti says: '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.' Chairman Muhammad Binghatti CEO Katralnada Binghatti added: '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.' CEO Katralnada Binghatti Branded residences attract global buyers Binghatti's strategic collaborations with luxury brands Bugatti, Mercedes-Benz, and Jacob & Co. continue to elevate its appeal among global investors. The company's unique blend of architectural innovation and iconic design has drawn high-profile clients such as Brazilian footballer Neymar Jr. and opera legend Andrea Bocelli. In H1 2025, 61 percent of Binghatti's sales came from non-resident buyers, up from 55 percent in H1 2024 — a clear sign of growing international demand. This was supported by the company's global outreach strategy, including the opening of a London sales office in July. Expanding access for local buyers While international demand continues to grow, Binghatti also saw strong domestic interest, supported by the UAE's rising population and government-backed housing initiatives. In May 2025, Binghatti signed an MoU with Abu Dhabi Islamic Bank (ADIB) to provide Sharia-compliant home financing for both ready and off-plan units. The structure allows eligible buyers to access financing once 35 percent of construction is completed and 50 percent of payments are made — enhancing affordability for local investors. In July, Binghatti was selected by the Dubai Land Department (DLD) and Dubai Department of Economy and Tourism (DET) as one of 13 developers for the First-Time Home Buyer (FTHB) Program. As part of the initiative, 10 percent of Binghatti's residential units priced under AED 5 million will be reserved for first-time buyers, with early access, exclusive discounts, and reduced fees — benefitting both Emiratis and expatriates. PropTech leadership and innovation Binghatti further cemented its leadership in real estate innovation by becoming a founding partner of the Dubai PropTech Hub in July. The Hub — a collaboration between the DIFC Innovation Hub and Dubai Land Department — aims to attract $300 million in venture capital by 2030 and drive adoption of AI, blockchain, and sustainable smart infrastructure. As a founding partner, Binghatti gains early access to cutting-edge startups through innovation labs and accelerator programs. Binghatti's revenue rose 189 percent YoY to AED 6.3 billion Aggressive development strategy and landmark land acquisition Binghatti currently has approximately 20,000 units under development across 30 projects in key Dubai locations, including Downtown, Business Bay, Jumeirah Village Circle, Meydan, and Dubai Science Park. During H1 2025, the developer launched seven new projects spanning 5,000 units over 3.8 million square feet, and handed over five developments totaling 1,441 units across 1 million square feet. The company also acquired a megaplot in Nad Al Sheba 1, at the heart of the Meydan district, with over 9 million square feet of gross floor area. This site will anchor Binghatti's first master-planned residential community, with a projected development value exceeding AED 25 billion. Binghatti Holding sets itself apart in the market by being active across the entire real estate ecosystem Credit ratings affirm strong financial position Binghatti's credit strength was validated in H1 2025 by global rating agencies. In March, Moody's Ratings assigned the company a Ba3 Corporate Family Rating (CFR) with a stable outlook, citing its strong market position, vertical integration, and sound financial management. 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 firm's net debt-to-EBITDA ratio of 0.8x, robust liquidity, and ability to self-fund projects were among the key strengths highlighted. Both agencies noted Binghatti's improved governance and institutional credibility following its $500 million sukuk issuance, now listed on both the London Stock Exchange and Nasdaq Dubai.
