Dubai-based developer Binghatti Holding opened 2026 with its strongest quarterly performance on record, reporting a net profit of AED1.43 billion for the first quarter ended 31 March — a 73 percent jump from the same period last year.
Revenue climbed 52 percent year-on-year to AED4.39 billion, while EBITDA surged 83 percent to AED1.83 billion, signalling robust operational efficiency across the group. Total assets reached AED32.87 billion, with cash reserves rising to AED9.9 billion.
Sales activity was equally strong. The company moved more than 4,000 units during the quarter, generating AED5.88 billion in sales, and launched five new projects comprising 4,696 units with a combined value of AED8.58 billion.
Looking ahead, Binghatti's development backlog stands at approximately AED52 billion, with a sales backlog of AED16 billion and a revenue backlog of AED18 billion — figures that point to sustained momentum well into the coming years.
Chairman Muhammad BinGhatti credited the results to the company's vertically integrated model and Dubai's enduring appeal as an investment hub.
"Dubai continues to reinforce its position as a global investment destination through proactive governance, strategic planning, and strong investor confidence,"
he said.
On the capital side, CFO Shehzad Janab highlighted a successful US$500 million Sukuk issuance that broadened the company's global investor base and reinforced its financial position.
The results place Binghatti among the UAE's fastest-growing real estate developers at a time when Dubai's property market continues to attract significant international interest.
News Source: Emirates News Agency
