The chairman of Binghatti Holding has reportedly dismissed the idea of a public listing, pointing to the Dubai-based developer’s strong balance sheet and ready access to alternative funding.
Mohammed BinGhatti told Asharq Business that the company’s cash flow remains “excellent”, with escrow accounts holding more than AED10 billion (USD2.7 billion) and sukuk issuances generating USD1.5 billion.
He said the company’s solid financial standing means there is currently no need to pursue an initial public offering, although the option remains under review depending on market conditions.
Bloomberg reported in September that Binghatti had been in talks with banks to assess a potential listing on the local stock exchange.
BinGhatti added that proceeds from the sukuk are being deployed to acquire land in key Dubai locations, including Palm Jumeirah, Downtown and Al Jaddaf.
He noted that Dubai’s housing market has continued its strong rebound, despite tariff-related disruptions and ongoing regional geopolitical tensions.
The developer is also assessing expansion opportunities in Abu Dhabi and London, though no further details were disclosed.
Binghatti Holding had 27 projects under development by the end of September, compared with 21 at the close of 2024.
Its portfolio comprises more than 20,000 residential units, covering over 17 million square feet of sellable area, with a combined gross development value of AED44 billion.
In October, the company reported that net profit for the first nine months of 2025 jumped 145 percent year on year to AED2.7 billion (USD735 million), while revenue more than doubled to nearly AED9 billion.
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