Latest news with #BinghattiCapital
Arabian Business
3 days 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.
Gulf Business
16-06-2025
- Business
- Gulf Business
Dubai's Binghatti launches DIFC-based Shariah-compliant asset management firm
Image: Binghatti Holding UAE's based luxury real estate developer The new entity plans to manage approximately $1bn in Shariah-compliant private credit and real estate strategies. Binghatti Capital has received authorisation from the Dubai Financial Services Authority (DFSA), the independent regulator for financial services conducted in or from DIFC. The firm is licensed to work exclusively with professional clients. As part of its real estate strategy, Binghatti Capital will implement separate mandates covering the acquisition and sale of off-plan residential properties, as well as the development and sale of residential projects. Its private credit platform will offer supply chain financing solutions to construction companies, property management entities, and key sector suppliers. In addition to private funds, Binghatti Capital will offer discretionary and non-discretionary portfolio mandates, providing tailored investment solutions to meet the specific objectives of professional clients. Read: Move to deepen Binghatti Holding's investment footprint Katralnada Binghatti, Executive Director of Binghatti Capital, said: 'The creation of an asset management arm represents a strategic move to deepen Binghatti Holding's investment footprint and enhance access to alternative capital. 'We believe that Binghatti Capital's offerings are one of a kind, underscoring our long-term vision to expand into high-value, income-generating investments that deliver sustainable growth. Through our new Shariah-compliant private investment strategies, we are not only reinforcing our position in the UAE's real estate sector but are supporting Dubai's efforts to become one of the world's leading foreign investment destinations.' Shehzad Janab, SEO of Binghatti Capital, added: 'Binghatti Capital represents a strategic extension of Binghatti Holding's capabilities, designed to accelerate growth and strengthen resilience, ensuring sustained success through all market conditions. Our inaugural suite of what we believe are unique strategies represents a thoughtful, well-structured approach to real estate investing, providing access to opportunities that are typically reserved for large institutions. 'Through disciplined governance, active management, and a strong Shariah-compliant foundation, we aim to deliver compelling returns while diversifying our source of capital for Binghatti Group's future developments.' Salmaan Jaffrey, chief business development officer at DIFC Authority, said: 'We are delighted to welcome Binghatti Capital to DIFC, the region's largest financial centre and home to more than 46,000 professionals. 'Binghatti Capital's presence will further strengthen Dubai's financial ecosystem and reinforce DIFC's position as the leading hub for asset management in the region. With over 400 wealth and asset management firms, DIFC continues to be the preferred destination for asset management companies seeking growth and opportunity in the region.'
Arabian Business
16-06-2025
- Business
- Arabian Business
UAE real estate giant Binghatti Holding launches $1bn asset management arm in Dubai
UAE real estate developer Binghatti Holding Ltd has launched Binghatti Capital Limited, an asset management firm based in the Dubai International Financial Centre (DIFC) that plans to manage approximately $1 billion in Shariah-compliant private credit and real estate strategies. The Dubai Financial Services Authority (DFSA) has authorised Binghatti Capital to operate in DIFC, the financial centre serving the Middle East, Africa and Southeast Asia region. The firm holds a licence to engage exclusively with professional clients. 'The creation of an asset management arm represents a strategic move to deepen Binghatti Holding's investment footprint and enhance access to alternative capital. We believe that Binghatti Capital's offerings are one of a kind, underscoring our long-term vision to expand into high-value, income-generating investments that deliver sustainable growth. Through our new Shariah-compliant private investment strategies, we are not only reinforcing our position in the UAE's real estate sector but are supporting Dubai's efforts to become one of the world's leading foreign investment destinations,' Katralnada Binghatti, Executive Director of Binghatti Capital said. Binghatti creates DIFC-based asset management firm Binghatti Capital will implement separate mandates within its real estate strategy, covering the acquisition and sale of off-plan residential properties alongside the acquisition, development and sale of residential projects. The firm's private credit solutions will focus on supply chain financing within the real estate sector, providing financing to construction firms, property management entities and suppliers. 'Binghatti Capital represents a strategic extension of Binghatti Holding's capabilities, designed to accelerate growth and strengthen resilience, ensuring sustained success through all market conditions. Our inaugural suite of what we believe are unique strategies represents a thoughtful, well-structured approach to real estate investing, providing access to opportunities that are typically reserved for large institutions. Through disciplined governance, active management, and a strong Shariah-compliant foundation, we aim to deliver compelling returns while diversifying our source of capital for Binghatti Group's future developments,' Shehzad Janab, SEO of Binghatti Capital added. Beyond private funds, Binghatti Capital will offer tailored discretionary and non-discretionary portfolio mandates to provide professional clients with solutions designed to meet specific investment objectives. 'We are delighted to welcome Binghatti Capital to DIFC, the region's largest financial centre and home to more than 46,000 professionals. Binghatti Capital's presence will further strengthen Dubai's financial ecosystem and reinforce DIFC's position as the leading hub for asset management in the region. With over 400 wealth and asset management firms, DIFC continues to be the preferred destination for asset management companies seeking growth and opportunity in the region,' Salmaan Jaffrey, Chief Business Development Officer at DIFC Authority explained. DIFC serves as the independent regulator for financial services conducted in or from the centre, which positions itself as the region's primary financial hub.
