Binghatti Holding Limited: H1 2026 Financial Results

Binghatti Holding Limited today announced record financial results for the six months ended 30 June 2026, supported by strong project execution, strategic expansion and resilient demand across its portfolio.

H1 2026 Key Highlights

• Net profit rose 64% YoY to AED 3.0 billion (USD 810 million)
• Revenue increased 50% YoY to AED 9.5 billion (USD 2.6 billion)
• Eight projects launched and approximately 1,700 units delivered
• USD 500 million 2031 Sukuk oversubscribed 4.3x (ISIN: XS3145700491)
• Moody’s affirmed Binghatti’s Ba3 rating
• Sale of a Bugatti-branded penthouse during the period

Financial Summary

	AED million		% Change, YoY	USD million
	H1 2026	H1 2025		H1 2026	H1 2025
Sales	9,592	8,480	13%	2,612	2,309
Revenue	9,498	6,323	50%	2,586	1,722
Gross Profit	4,312	2,599	66%	1,174	708
EBITDA	3,830	2,184	75%	1,043	595
Net Profit	2,973	1,818	64%	810	495

 

 

 

Note: EBITDA is a measure defined by the Group as earnings before interest, tax, depreciation and amortization. EBITDA may not be comparable to similarly titled measures used by other companies. A reconciliation of EBITDA to net profit is available on request from Investor Relations.

Operational Metrics

Metric	H1 2026
Development Backlog	AED 44.2 billion (USD 12.0 billion)
Revenue Backlog	AED 17.3 billion (USD 4.7 billion)
Projects Launched	8
Units Delivered	ca. 1,700

Chairman Statement

“The first half of 2026 combined strong financial performance with important strategic progress across our platform. We expanded into new development segments with the launch of Tilal Binghatti, our first villa community, and Mercedes-Benz Places | Binghatti City, our first master community development, while maintaining delivery discipline across our portfolio.  The successful completion of Binghatti Apex, Binghatti Ghost and Binghatti Ivory during the period reflects the strength of our vertically integrated model and our continued focus on timely execution.”

Muhammad BinGhatti, Chairman

Chief Financial Officer Statement

“Our H1 results demonstrate the robustness and continued scalability of our business model despite the heightened volatility prevalent in the region, with revenue increasing to AED 9.5 billion and net profit reaching AED 3.0 billion while improving margins and a substantial revenue backlog, providing earnings visibility. 

The successful issuance of our USD 500 million 2031 Sukuk, which was more than 4.3 times oversubscribed, and Moody’s affirmation of our Ba3 rating provide independent validation of our financial discipline and credit profile.”

Shehzad Janab, Chief Financial Officer

Record Financial Performance

Net profit increased 64% year-on-year to AED 3.0 billion (USD 810 million), while revenue rose 50% to AED 9.5 billion (USD 2.6 billion). EBITDA increased 75% to AED 3.8 billion (USD 1.0 billion) and gross profit advanced by 66% to AED 4.3 billion (USD 1.2 billion). As of 30 June 2026, development backlog stood at approximately AED 44.2 billion (USD 12.0 billion). The revenue backlog of AED 17.3 billion (USD 4.7 billion) provides strong visibility into future earnings and represents the largest contracted pipeline in the Group’s history. The Group maintained a strong liquidity position of approximately AED 10 billion (USD 2.6 billion).

 Strategic and Operational Highlights

During H1 2026, Binghatti launched eight projects and delivered approximately 1,700 units. The period included the launch of Mercedes-Benz Places | Binghatti City, the Group’s first master community development, in January, and Tilal Binghatti, the Group’s first villa community development, in May. The Group also completed and delivered Binghatti Apex, Binghatti Ghost and Binghatti Ivory in line with scheduled timelines.

Capital Markets and Credit Profile

The USD 500 million 2031 Sukuk issued in February was more than 4.3x oversubscribed, demonstrating continued demand from regional and international investors. Moody’s affirmed Binghatti’s Ba3 corporate rating in April despite heightened regional geopolitical uncertainty. Binghatti’s USD 500 million 2030 Sukuk was awarded the Real Estate Deal of the Year by Global Banking & Markets in June.

Outlook

Dubai’s residential market continues to benefit from inward migration, long-term residency trends, economic diversification and supportive government initiatives. Demand is increasingly driven by residents and end users, reinforcing the market’s transition towards a more mature and institutional landscape and supporting its long-term growth prospects. Binghatti is well positioned to capitalize on these trends through its strong development pipeline, proven execution capabilities and strategic land bank, while maintaining a disciplined approach to capital allocation, balance sheet management and growth.

 Investor Conference Call

Binghatti will host a conference call and live webcast for investors and analysts on 27 July 2026 at 13:00 (GST). Webcast registration details: https://evercall.co/oacc/78291. A replay will be made available following the call.