Dubai’s leading developer Binghatti Holding is reportedly considering an initial public offering (IPO), marking a potential new entrant to Dubai’s thriving stock market.
According to sources familiar with the matter, the company has initiated discussions with several major banks to evaluate a possible listing as it seeks to benefit from the city’s strong property demand and investment momentum.
Talks with global and regional banks underway
As reported by Bloomberg, Binghatti is working with Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes on the potential deal.
The size and timeline of the IPO are yet to be finalized, and plans could still evolve as the company reviews market conditions.
When contacted by Gulf News, a Binghatti spokesperson declined to comment on the matter.
Dubai’s property market continues to surge
Despite global economic challenges and geopolitical uncertainty, Dubai’s real estate sector continues to demonstrate remarkable resilience.
According to recent data, the emirate recorded 59,228 property transactions in Q3 valued at Dh170.7 billion, reflecting a 17.2% rise in volume and a 19.9% increase in value compared with the same period last year.
This sustained growth has encouraged both developers and investors to expand their portfolios and pursue public listings, reinforcing Dubai’s reputation as a global property hub.
Binghatti’s rapid growth and luxury expansion
Binghatti has emerged as one of the standout performers in this environment, reporting a first-half profit of Dh1.82 billion, more than double its results from the previous year.
The company has diversified its portfolio, expanding into luxury developments while maintaining a strong presence in mid-market housing.
Its upcoming projects include a Mercedes-Benz-branded tower and one of the tallest residential buildings in the world. High-end projects currently represent about 37% of its total portfolio by value.
IPO momentum builds in Dubai’s real estate scene
Binghatti’s potential IPO comes amid a wave of property-related listings.
Earlier this week, Investment Corp. of Dubai raised $381 million through the IPO of Alec Holdings, while Dubai Residential REIT moved to list malls and commercial assets after raising $584 million in May.
Additionally, Dubai Investments recently announced plans to list 25% of Dubai Investment Park on the Dubai Financial Market.
A sign of confidence in Dubai’s property economy
If Binghatti proceeds with its listing, it will join a growing group of Dubai developers tapping the equity markets to raise capital while demand and valuations remain high.
The move would underline investor confidence in the emirate’s real estate fundamentals and Dubai’s continued rise as a global investment destination.
