Dubai developer records 66% revenue growth and 65% increase in net profit, surpasses full-year 2025 earnings and strengthens its development pipeline with AED 33 billion in backlog.
Dubai, UAE – 12 November 2026: Binghatti Holding Limited (“Binghatti” or the “Group”) has announced record financial results for the nine months ended 30 September 2026, reporting a 66% year-on-year increase in revenue to AED 14.9 billion and a 65% rise in net profit to AED 4.4 billion. The results reflect sustained sales momentum, accelerated construction progress and the continued expansion of the Group’s residential development portfolio.
The Group’s nine-month net profit has already exceeded its full-year 2025 profit of AED 3.6 billion, highlighting the scale of its financial performance. Sales increased 11% year-on-year to AED 14.2 billion, while EBITDA climbed 74% to AED 5.7 billion. Gross profit also recorded strong growth, rising 62% to AED 6.4 billion.
Strong Project Delivery Supports Continued Growth
Operational progress remained a key contributor to the Group’s performance. During the first nine months of 2026, Binghatti successfully completed five residential developments: Binghatti Apex, Binghatti Ghost, Binghatti Ivory, Binghatti Haven and Binghatti Grove, delivering approximately 2,600 residential units.
A further eight projects, comprising approximately 6,400 units, are on track for completion by the end of 2026. The Group also launched 12 projects during the reporting period, expanding its development portfolio and strengthening its future revenue potential.
Commenting on the results, Muhammad BinGhatti, Chairman of Binghatti, said:
“We build what we sell. Design, contracting and delivery all sit inside Binghatti, so the construction schedule is ours to manage, not a third party’s.
“This year we completed Binghatti Apex, Binghatti Ghost, Binghatti Ivory, Binghatti Haven and Binghatti Grove, and eight further projects are on track for completion by year-end 2026. That same control is what allowed us to pass last year’s full-year profit within nine months. What we deliver is the clearest measure of who we are, and this year has been no exception.”
Strong Revenue Visibility and Expanding Development Pipeline
Binghatti reported a development backlog of AED 33 billion and contracted revenue backlog of AED 16.4 billion, expected to be recognised over the next one to three years. The Group’s sellable development area also expanded significantly from 2.4 million square feet in December 2025 to 14.6 million square feet by September 2026.
The company continues to diversify its residential offering, having introduced its first villa community, Tilal Binghatti, alongside its first master community, Mercedes-Benz Places | Binghatti City.
Katralnada BinGhatti, Chief Executive Officer and Managing Director of Binghatti, said:
“Our sales grew 11% this year to AED 14.2 billion, indicating that demand for well-located homes at the right price remains strong.
“We have broadened what we offer, launching our first villa community, Tilal Binghatti, and our first master community, Mercedes-Benz Places | Binghatti City, and we continue to build where people want to live: more than half of our units sit in communities that Dubai’s new metro lines will connect.
“With AED 16.4 billion of contracted revenue still to be recognised and a development backlog of AED 33 billion, we go into 2027 with clear visibility on the years ahead.”
Strengthened Financial Position and Liquidity
The Group’s financial position continued to strengthen, with total equity increasing to AED 11.2 billion from AED 6.8 billion at the end of 2025. Total assets grew 46% year-to-date to AED 35.5 billion, while corporate cash reached AED 2.7 billion at 30 September 2026.
Bank balances, including escrow accounts, totalled AED 12.4 billion, exceeding total borrowings of AED 12.2 billion. The Group also confirmed its intention to repay its USD 500 million sukuk in full at maturity in February 2027 using internally generated cash.
Binghatti generated AED 5.4 billion in operating cash before working capital and reinvested AED 4.9 billion into land acquisition and construction to support future development and project deliveries.
Positive Outlook Supported by Dubai’s Growth
Looking ahead, Binghatti expects to benefit from Dubai’s population growth, economic diversification, infrastructure investment and sustained demand for residential properties. Upcoming developments, including the Dubai Metro Blue Line and Gold Line, are expected to improve connectivity across several communities where the Group has a significant development presence.
With an expanding project pipeline, established execution capabilities and a growing financial base, Binghatti remains focused on delivering its developments, strengthening its market presence and pursuing disciplined long-term growth.
