Binghatti achieves its tenth consecutive record quarter, with net profits amounting to 1.43 billion dirhams during the first quarter of 2026.

Binghatti Holding Limited announced record financial results for the first quarter ending March 31, 2026, continuing to record exceptional performance for the tenth consecutive quarter, supported by strong sales, operational discipline, and continued demand for its various real estate projects.

The company recorded net profits of 1.43 billion dirhams, an annual growth of 73%, while revenues increased to 4.39 billion dirhams, an increase of 52% compared to the same period last year. The earnings before interest, taxes, depreciation and amortization (EBITDA) index also increased to 1.83 billion dirhams, achieving a growth of 83%.

The company continued to enhance its profitability margins, as the net profit margin reached 33% compared to 29% in the first quarter of 2025, while the gross profit margin increased to 43%. Total assets also increased to 32.87 billion dirhams, while cash liquidity reached 9.9 billion dirhams, which reflects the solidity of the company’s financial position and its ability to support its expansion plans.

During the first quarter, Binghatti Holding achieved sales worth 5.88 billion dirhams through the sale of more than 4,000 real estate units, in addition to launching five new projects with a development value of 8.58 billion dirhams, including 4,696 units. The volume of projects under development reached about 52 billion dirhams, with accumulated sales of approximately 16 billion dirhams and expected future revenues of about 18 billion dirhams, which gives the company a strong vision for growth in the coming years.

Mohammed BinGhatti, Chairman of the Company’s Board of Directors, said: “Binghatti’s continued record performance reflects the strength of our integrated business model and our ability to transform the strength of Dubai’s real estate market into sustainable growth and strong profitability. Dubai continues to maintain its investment attractiveness thanks to its flexible regulatory environment, long-term economic strategies, and continued global capital flows.”

For his part, Shehzad Janab, the company’s chief financial officer, stressed: “The record results reflect the flexibility of Binghatti’s business model, the strength of cash flows and disciplined management of liquidity, while the issuance of sukuks worth $500 million contributed to strengthening the capital structure and expanding the base of regional and international investors.”

The first quarter also witnessed a number of prominent strategic milestones, most notably the issuance of sukuks worth $500 million for a period of five and a half years, which is the longest-term for a private real estate developer in the Emirates, with coverage exceeding 4.4 times the size of the issuance, which reflects the confidence of global investors in the company.

In terms of global expansion, Binghatti revealed, during its participation in the World Economic Forum in Davos 2026, the “Mercedes-Benz Places | Binghatti City” project, which represents the first residential city bearing the Mercedes-Benz brand in the world, with a development value of approximately 30 billion dirhams, in a step that strengthens Dubai’s position as a global center for luxury real estate investment and development.