Dubai-based real estate developer Binghatti Holding is reportedly exploring a potential initial public offering (IPO) as it looks to benefit from the city’s booming property market.
According to Bloomberg, the company has begun discussions with Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes to manage a possible listing. While the size and timing of the IPO are yet to be finalised, sources familiar with the talks said the plan could still change.
When contacted, a Binghatti spokesperson declined to comment on the matter.
Dubai’s property market continues to surge despite global uncertainty, supported by strong investor interest and record sales. Data shows over 59,000 sales transactions worth Dh170.7 billion were recorded in the third quarter, marking a 17% rise in volume and nearly 20% growth in value compared to last year.
Binghatti’s performance has mirrored this momentum, with the developer posting a first-half profit of Dh1.82 billion, more than double its previous year’s figure. The company has been expanding its luxury portfolio, including a Mercedes-Benz-branded tower and one of the world’s tallest residential buildings, though mid-market housing remains its main focus.
If the IPO moves forward, Binghatti would join a growing list of Dubai property firms going public, following recent listings from Alec Holdings and Dubai Residential REIT. Analysts say developers are using the market’s current strength to raise capital and attract new investors as real estate demand remains at record highs.
