Binghatti Holding, a leading UAE real estate developer, celebrated the debut of its $500 million senior unsecured sukuk for a five-year tenure on London Stock Exchange (LSE) with a ceremonial bell-ringing event, thus marking a key milestone in its international growth journey.
The sukuk, issued under Binghatti’s $1.5 billion Trust Certificate Issuance Programme, was oversubscribed five times, attracting over $2.5 billion in orders from a diverse pool of regional and global investors.
The issuance was priced with a profit rate of 8.125%, reflecting investor confidence in Binghatti’s robust financial position, said the company in a statement.
Binghatti Holding is rated BB- by Fitch and Ba3 by Moody’s, both with stable outlooks.
Founder Dr Hussain BinGhatti, Chairman Muhammad BinGhatti and Chief Executive Officer Katralnada BinGhatti, accompanied by other senior executives and lead arrangers, rang the opening bell at the LSE to celebrate the listing. The sukuk will also be listed on Nasdaq Dubai.
Muhammad BinGhatti said the LSE listing is a clear signal of the group’s commitment to engaging proactively with global investors and operating at the highest standards of transparency and governance.
"The landmark sukuk issuance enjoyed strong international demand, allowing us to close the books ahead of schedule and reinforcing market confidence in our credit profile, operational resilience, and growth strategy. As we scale our business and diversify our development portfolio, access to deep, liquid, and global capital markets is central to our financial strategy. Today’s listing marks another important step in broadening our investor base and strengthening our global footprint," he stated.
The successful issuance and the strong demand come on the back of Binghatti Holding’s strong H1 2025 results.
During the first half, the company’s net profit more than tripled to AED1.82 billion, driven by resilient demand for Dubai real estate. The Group’s total sales reached AED8.8 billion, with revenue climbing 189% YoY to AED6.3 billion.
Katralnada BinGhatti said: "Our sukuk programme reflects the commitment to diversifying the company’s funding base, extending our maturity profile, and efficiently deploying capital to capture emerging opportunities."
"The five-times oversubscription and strong demand from institutional investors across Europe, Asia, and the Middle East signal a clear endorsement of our vertically integrated business model," he stated.
"With close to 50% of allocations going to non-GCC investors, we are pleased to see growing global recognition of Binghatti’s unique positioning in Dubai’s real estate sector. As we grow our portfolio and redefine luxury living in Dubai, we will continue to maintain prudent leverage and strong corporate governance," he added.
