Binghatti’s nine-month 2025 profit soars 145% to AED 2.66 billion
Binghatti Holding Ltd, a leading UAE real estate developer, announced record financial results for the nine months ended 30 September 2025. This underlines the company’s strong sales and execution across a diversified project base.
Revenue nearly tripled year-on-year to AED 8.96 billion. It compared with AED 3.77 billion in the same period last year. This growth was driven by strong sales momentum and accelerated project handovers. It also reflects the continued success of its optimally diversified portfolio.
Balanced exposure across market segments underscores the resilience and depth of its business model. Particularly, the strong performance of premium mainstream and mainstream offerings highlights this balance.
The company’s vertically integrated business model enabled record top-line performance.
It also improved operational efficiency across the Group.
Gross profit rose 143% to AED 3.95 billion. This was supported by an optimal project mix and higher average selling prices. Consistent cost discipline also contributed.
EBITDA climbed 139% to AED 3.28 billion, showing the scalability and margin resilience of Binghatti’s model. Net profit increased 145% year-on-year to AED 2.66 billion. This reflects robust operating leverage and efficient execution.
The nine-month performance was fueled by ahead-of-schedule handovers and strong sales from 11 newly launched projects. High absorption rates across Binghatti’s core developments added to the strength.
During the three months ended 30 September 2025, revenue reached AED 2.64 billion, up 67% year-on-year. Net profit rose 101% to AED 839 million, compared with AED 417 million in 3Q 2024.
These results establish Binghatti as one of the most profitable private real estate developers in the region. They demonstrate its ability to achieve one of the fastest cash conversion cycles in the industry. This efficiency, supported by agile product mix and delivery speed, drives sustained financial and operational excellence.
As of the first nine months of 2025, Binghatti recorded approximately 12,000-unit sales. This cements its position as Dubai’s top-selling real estate developer by units sold.
The company launched 11 new projects in the nine months ending 30 September 2025. They have a combined GDV of approximately AED 11 billion and include more than 7,000 residential units. The total sellable area reached close to 6.0 million sq. ft.
The company’s revenue backlog stood at around AED 14 billion as of 30 September 2025. Sustained sales and continued demand from both domestic and international buyers support this backlog.
Non-resident investors accounted for about 60% of total sales. This highlights Dubai’s growing appeal as a global investment hub and lifestyle destination.
Binghatti’s operational expansion continues at record pace. As of 30 September 2025, the company had 27 projects under development. This is up from 21 at the end of 2024, marking a 29% increase year-to-date.
The developments encompass over 20,000 residential units and a total sellable area of more than 17.0 million sq. ft. Their aggregate GDV stands at approximately AED 44 billion.
The company’s project pipeline remains robust. It includes 11 projects in advanced planning, totaling more than 18,000 units and over 12.0 million sq. ft. The GDV of these future projects is about AED 30 billion.
These upcoming projects span Palm Jumeirah, Nad Al Sheba, Al Jaddaf, Arjan, and Wadi Al Safa. They reflect Binghatti’s balanced mix of mainstream, premium mainstream, luxury, and uber luxury developments.
In addition, 11 projects were launched during the first nine months of 2025. They collectively comprise more than 7,000 units and over 6.0 million sq. ft. of sellable area.
Their GDV is approximately more than AED 11 billion.
This scale of execution underscores Binghatti’s exceptional capacity to deliver across diverse residential segments. It maintains design excellence, construction speed, and consistent quality across its portfolio.
Binghatti’s financial position remains robust. Total assets grew 73% year-to-date to AED 22.0 billion. This was driven by project expansion and strong cash generation.
Total equity rose 84% to AED 5.8 billion. Cash and cash equivalents more than doubled to AED 7.7 billion, reflecting prudent liquidity management. Total debt increased to AED 7.0 billion, maintaining a healthy debt-to-equity ratio of 1.2x.
The Group operates with strong margins. Gross margin reached 44%, EBITDA margin 37%, and net margin 30%. This positions Binghatti among the most efficient and profitable developers in the region.
Binghatti has strengthened its funding base through two successful sukuk issuances this year. They were over five times oversubscribed, underscoring its growing profile in capital markets.
More recently, Binghatti launched a dual-listed USD 500 million Green Sukuk. Proceeds will finance sustainable developments under its Green Financing Framework.
These issuances diversified Binghatti’s investor base and enhanced liquidity. They reinforced its reputation as a credible corporate issuer.
Both Moody’s and Fitch Ratings reaffirmed the company’s stable outlook. They cited disciplined financial management, strong liquidity, and the ability to self-finance growth through cash flows.
Dubai’s real estate market continues to outperform global peers. It is supported by sustained population growth, rising homeownership, and steady inflows of international capital.
Long-term initiatives such as Dubai Economic Agenda D33 and the Real Estate Strategy 2033 strengthen the sector. The Dubai 2040 Urban Master Plan continues to reinforce the city’s economic base and housing demand.
The surge in first-time homebuyers and end-user purchases reflects a market transitioning rather than overheating. Genuine demand is driven by residents choosing Dubai as their long-term home.
Despite elevated development activity, supply remains measured relative to population growth. This suggests continued stability and healthy absorption across key districts.
As one of the UAE’s fastest-growing developers, Binghatti’s integrated structure allows efficient delivery. It responds swiftly to evolving market demand.
By combining financial prudence, design quality, and operational efficiency, Binghatti continues to differentiate itself. The company is well positioned to sustain its growth trajectory into 2026 and beyond.
