Dubai-based developer Binghatti Holding has initiated work toward a possible initial public offering on the Dubai Financial Market, Bloomberg reported, as it aims to tap into Dubai’s real estate boom.
According to people familiar with the matter, the firm is in talks with banks to arrange the IPO. Binghatti declined to comment on the reports. In August 2025, the company issued a $500 million sukuk. Its net profit for the first half of 2025 reached Dh1.82 billion ($496 million), up 172% from the same period in 2024.
Binghatti is developing multiple high-profile towers, including a Mercedes-branded project and what is planned to become one of the world’s tallest residential towers. It has launched seven new developments in H1 2025 and completed five. Over the past 18 months, it delivered more than 15 projects. Sales in the first half of the year reached Dh9 billion, and revenue increased 189% year on year.
The move comes amid a continued rally in Dubai’s property market. Despite inflation, geopolitical tensions and broader financial headwinds, demand remains strong. Analysts expect a moderate correction in late 2025 and into 2026, citing a large upcoming housing supply and rising costs. Fitch Ratings forecasts property price declines of up to 15% during that period.
Real estate transactions in Dubai in the first half of 2025 grew 26% in volume and 25% in value compared to the same period in 2024, reflecting both increased domestic and foreign investment.
While risk warnings have increased, investor interest in share sales remains active. Contractors such as Alec Holdings and Arabian Construction, as well as property marketplace Dubizzle, are preparing IPOs.
