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Binghatti H1 profit jumps 64% to Dh3 billion as Dubai demand drives growth
The Dubai-based developer reports 50% revenue growth after launching eight projects and delivering 1,700 homes during the first half
- PUBLISHED: Mon 27 Jul 2026, 11:18 AM
Dubai-based developer Binghatti Holding reported a sharp rise in first-half earnings, driven by strong project deliveries, new launches and sustained demand for residential property.
Net profit increased 64 per cent year-on-year to Dh3 billion, while revenue climbed 50 per cent to Dh9.5 billion during the six months ended June 30, the company said on Monday.
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Gross profit rose 66 per cent to Dh4.3 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 75 per cent to Dh3.8 billion, reflecting continued growth across the business.
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Binghatti launched eight projects and delivered around 1,700 residential units during the first half, including Mercedes-Benz Places | Binghatti City, the company's first master-planned community, and Tilal Binghatti, its first villa development.
Backlog supports future growth
The developer said its development backlog reached Dh44.2 billion, while revenue backlog stood at Dh17.3 billion, providing strong visibility for future earnings. The company also maintained liquidity of around Dh10 billion at the end of June.
Muhammad Binghatti, Chairman of Binghatti Holding, said the company continued to make strategic progress while maintaining delivery discipline.
"The first half of 2026 combined strong financial performance with important strategic progress across our platform. We expanded into new development segments while maintaining delivery discipline across our portfolio," he said.
Sukuk attracts strong demand
During the period, Binghatti completed a $500 million sukuk maturing in 2031, which was 4.3 times oversubscribed, reflecting strong demand from regional and international investors. Moody's also reaffirmed the company's Ba3 corporate credit rating.
Chief Financial Officer Shehzad Janab said the results highlighted the resilience of Binghatti's business model despite heightened regional volatility.
He said improving profit margins, together with the company's sizeable revenue backlog, provide strong visibility over future earnings.
Looking ahead, Binghatti said Dubai's residential market continues to benefit from population growth, long-term residency initiatives and economic diversification, with demand increasingly driven by end-users and long-term residents rather than speculative investors.
