12/05/2026 04:27 AST
Binghatti Holding on Monday announced a 73 per cent growth in net profit for the first quarter of 2026, reaching Dh1.43 billion.
The record-breaking financial results marked the company's 10th consecutive quarter of growth, driven by strong sales execution, disciplined operations, and sustained demand across its diversified real estate portfolio.
The Dubai-based conglomerate's revenues rose 52 per cent to Dh4.39 billion during the January-March 2026 period. Its EBITDA surged 83 per cent year-on-year to Dh1.83 billion, reflecting continued operational efficiency and margin expansion.
Binghatti also strengthened its profitability metrics, with net profit margin improving to 33 per cent compared to 29 per cent in Q1 2025, while gross profit margin increased to 43 per cent.
Total assets reached Dh32.87 billion, and the group's cash position rose to Dh9.9 billion, highlighting the strength and flexibility of its balance sheet.
During the quarter, the company achieved Dh5.88 billion in sales through the sale of more than 4,000 units and launched five new projects valued at Dh8.58 billion, comprising 4,696 units.
Binghatti's development backlog stood at approximately Dh52 billion, with a sales backlog of Dh16 billion and a revenue backlog totaling Dh18 billion, providing strong visibility for future growth.
"Binghatti's continued record performance reflects the strength of our vertically integrated business model and our ability to translate Dubai's resilient real estate fundamentals into sustainable growth and profitability. Dubai continues to reinforce its position as a global investment destination through proactive governance, strategic planning, and strong investor confidence," said Muhammad BinGhatti, chairman of Binghatti Holding.
Shehzad Janab, chief financial officer, said the record-breaking results demonstrate the resilience and scalability of the group, supported by strong cash generation, disciplined liquidity management, and continued earnings momentum.
In the first quarter of 2026, the firm issued a $500 million Sukuk with a 5.5-year maturity, the longest-tenor Sukuk ever issued by a UAE private-sector real estate developer. The issuance was oversubscribed by more than 4.4 times, reflecting strong international investor confidence.
Khaleej Times
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