Binghatti Holding has priced its first $500 million long three-year green sukuk, which was oversubscribed more than four times. The issuance forms part of its $1.5 billion trust certificate programme and reflects growing investor confidence in sustainable finance. Proceeds will support a portfolio of eligible green projects, further advancing the developer’s sustainability goals.
The sukuk was priced with a profit rate of 7.750 per cent, translating into a spread of 416 basis points over the three-year US Treasury yield. Demand surpassed $2 billion, with nearly half of subscriptions coming from international investors. Due to a strong appetite, final pricing tightened from the initial guidance of 8.125 per cent. The company holds credit ratings of Ba3 from Moody’s and BB- from Fitch, both with stable outlooks.
Strategic listing and financing growth momentum
The green sukuk will be listed on both the London Stock Exchange and Nasdaq Dubai, providing wider market visibility. The issuance was jointly coordinated by leading regional and international banks, supported by a group of prominent bookrunners. This collaboration reinforced the global investor response and underlined the depth of liquidity available for sustainable assets.
Katralnada BinGhatti, chief executive officer of Binghatti Holding, said: “Binghatti’s inaugural green sukuk marks a pivotal milestone in our sustainability journey, reinforcing our position as one of the region’s most dynamic and responsible developers. The strong demand and investor trust shown in the $500 million issuance highlights our unique and highly profitable business model, a vertically integrated platform combining rapid growth with a strong commitment to green and sustainable development.”
Shehzad Janab, chief financial officer of Binghatti Holding, commented: “Building on the phenomenal momentum of our July 2025 five-year sukuk — oversubscribed by more than five times — we are delighted by the overwhelming support from the global investor community. The strong demand from both the green and conventional liquidity pools is a testament to the Dubai real estate story and Binghatti’s unique market position.”
Expanding real estate footprint in Dubai
The developer’s strong financial performance in the first half of 2025 supports the success of its latest issuance. Net profit more than tripled to Dh1.82 billion, while total sales rose to Dh8.8 billion. Revenue climbed 189 per cent year-on-year, reaching Dh6.3 billion. Seven new projects were launched and five completed in the same period, with 15 delivered over the past 18 months.
Binghatti’s development portfolio has grown significantly, with a revenue backlog of Dh12.5 billion and a pipeline exceeding Dh70 billion. Around 20,000 units are under development across 30 prime locations, including Downtown, Business Bay, Jumeirah Village Circle, and Meydan. The company continues to strengthen its branded residences portfolio through collaborations with Bugatti, Mercedes-Benz and Jacob & Co.
Its recent acquisition of a nine-million-square-foot plot in Nad Al Sheba 1 will further expand growth. The site will host Binghatti’s first master-planned community, valued at over Dh25 billion, underscoring its long-term vision for Dubai’s real estate sector.
