Binghatti Holding reports its 10th consecutive record quarter, driven by strong sales growth.
Binghatti Holding reported its 10th consecutive record-breaking quarter, posting a net profit of Dh1.43 billion for Q1 2026 as Dubai’s property market continued to drive strong demand for luxury and branded residences.
Revenue rose 52% year-on-year to Dh4.39 billion, reflecting strong sales momentum, operational efficiency, and increasing investor appetite for premium real estate in the emirate.
During the quarter, the developer sold more than 4,000 residential units, generating Dh5.88 billion in sales, and launched five new projects worth Dh8.58 billion, adding 4,696 units to its expanding portfolio across Dubai.
Binghatti Holding said its total development backlog has reached approximately Dh52 billion, reflecting the scale of its ongoing and upcoming projects across Dubai.
The company’s sales backlog stood at Dh16 billion, while its revenue backlog reached Dh18 billion, providing strong visibility for sustained future growth.
Binghatti Holding Chairman Muhammad Binghatti said the company’s strong results reflect the effectiveness of its vertically integrated business model and the resilience of Dubai’s property sector.
He added that Binghatti’s continued record performance demonstrates its ability to convert strong real estate fundamentals in Dubai into sustained growth and profitability.
“Dubai continues to strengthen its position as a global investment hub through proactive governance, strategic planning, and robust investor confidence.”
Binghatti Holding reported improved profitability in the quarter, with net profit margin rising to 33% from 29% a year earlier, while gross profit margin increased to 43%.
The company’s total assets climbed to Dh32.87 billion, and its cash reserves rose to Dh9.9 billion, underscoring what it described as a strong and flexible financial position.
Shehzad Janab said the results reflect the company’s financial discipline and its long-term growth strategy.
“Our record-breaking results demonstrate the resilience and scalability of Binghatti Holding’s platform, supported by strong cash generation, disciplined liquidity management, and continued earnings momentum,” he said.
Sukuk milestone
The company also highlighted a key financial milestone during the quarter with the successful issuance of a $500 million Sukuk, which strengthened its capital structure and broadened its international investor base.
The Sukuk, carrying a 5.5-year maturity, is the longest-tenor issuance of its kind by a UAE private-sector real estate developer. It was oversubscribed more than 4.4 times, reflecting strong global investor confidence in Dubai’s real estate market.
