#Dubai Property Developer Binghatti Prepares For Possible IPO - Bloomberg

Dubai Property Developer Binghatti Prepares For Possible IPO - Bloomberg

Dubai-based developer Binghatti Holding Ltd. has started preparations for a potential initial public offering, as it seeks to capitalize on the multi-year real estate boom sweeping the emirate.

The firm is seeking to hire banks to help it go public in the United Arab Emirates, according to people familiar with the matter, who declined to be named while discussing confidential information.

A representative for Binghatti said it “declined to comment on market rumour and speculation.”

Binghatti is building what’s planned to be one of the world’s tallest residential towers and has announced a Mercedes-branded tower.

The developer issued a $500 million sukuk last month. Binghatti’s net profit for the first half of the year was 1.82 billion dirhams ($496 million), up 172% compared to the same time last year.

Binghatti is weighing the IPO at a time when Dubai’s property market has rallied. That boom continued in the second quarter of 2025 despite geopolitical tensions and tariff turmoil.

Demand for real estate in the emirate has surged since 2020, because of the government’s handling of the pandemic and liberal visa policies that attracted foreign buyers. Prices for luxury property — including waterfront villas on the city’s artificial palm-shaped islands — have jumped because of an influx of wealthy expatriates and buyers from around the world

Still, analysts have started to warn that city-wide property prices face multiple risks after rising by about 70% over the past four years. In a report this May, Fitch Ratings predicted a “moderate correction” in late 2025 into 2026, citing a wave of new supply.

Investors have been burnt before when betting on Dubai developers, with Damac’s 2022 delisting at a steep discount from its IPO price serving as a reminder of the risks.

Even so, Dubai’s property surge is driving a fresh pipeline of share sales. Contractors ALEC Engineering & Contracting LLC and Arabian Construction Co. as well as online property platform Dubizzle Ltd. are gearing up to go public in the UAE, Bloomberg News has reported.

In May, a fund tied to the emirate’s ruler secured $584 million by floating a residential real estate investment trust, and is planning to list a portfolio with malls and retail assets. Meanwhile, Dubai Investments PJSC plans to list a unit that operates one of the emirate’s largest mixed-use real estate developments.