DUBAI, UAE- Binghatti Holding Limited has reported strong financial and operational results for the nine months ended September 30, 2026, with net profit rising 65% year-on-year to AED 4.4 billion, surpassing the company’s full-year 2025 net profit of AED 3.6 billion.
The Dubai-based developer recorded a 66% increase in revenue to AED 14.9 billion, compared with AED 8.96 billion during the corresponding period last year. Sales also increased by 11% to AED 14.2 billion, reflecting continued activity across its development portfolio.
The company’s third-quarter performance was particularly strong, with revenue more than doubling compared with the corresponding period. Sales during the quarter increased 7% to AED 4.6 billion.
Binghatti also strengthened its financial position, with total equity reaching AED 11.2 billion, compared with AED 6.8 billion at the end of December 2025.
Strong Financial Performance
The company’s financial results reflect growth across several key indicators. Gross profit increased 62% year-on-year to AED 6.416 billion, while EBITDA rose 74% to AED 5.721 billion.
Net profit reached AED 4.393 billion, compared with AED 2.656 billion during the first nine months of 2025.
Another significant development was the increase in corporate cash, which reached AED 2.7 billion, representing approximately five times the level at the beginning of the year and a sevenfold increase quarter-on-quarter.
The company also reported a development backlog of AED 33 billion and a revenue backlog of AED 16.4 billion, providing visibility over future earnings.
Muhammad BinGhatti, Chairman
“We build what we sell. Design, contracting and delivery all sit inside Binghatti, so the construction schedule is ours to manage, not a third party’s.
This year we completed Binghatti Apex, Binghatti Ghost, Binghatti Ivory, Binghatti Haven and Binghatti Grove, and eight further projects are on track for completion by year-end 2026. That same control is what allowed us to pass last year’s full-year profit within nine months. What we deliver is the clearest measure of who we are, and this year has been no exception.”– Muhammad BinGhatti, Chairman
Projects and Deliveries Gather Pace
Binghatti continued to make progress across its development portfolio, completing five projects on schedule during the reporting period. These include Binghatti Apex, Binghatti Ghost, Binghatti Ivory, Binghatti Haven and Binghatti Grove.
Approximately 2,600 residential units were handed over through these completed projects.
The company expects to complete eight additional projects comprising approximately 6,400 units by the end of 2026. These deliveries are expected to support collections and improve cash conversion as customers settle outstanding payments upon handover.
The developer also reported AED 4.7 billion in trade receivables and contract assets, largely collectible upon handover.
Its total sellable area expanded significantly from 2.4 million square feet in December 2025 to 14.6 million square feet in September 2026, strengthening its future development pipeline.
Katralnada BinGhatti, Chief Executive Officer and Managing Director
“Our sales grew 11% this year to AED 14.2 billion, indicating that demand for well-located homes at the right price remains strong.
We have broadened what we offer, launching our first villa community, Tilal Binghatti, and our first master community, Mercedes-Benz Places | Binghatti City, and we continue to build where people want to live: more than half of our units sit in communities that Dubai’s new metro lines will connect.
With AED 16.4 billion of contracted revenue still to be recognized and a development backlog of AED 33 billion, we go into 2027 with clear visibility on the years ahead.”– Katralnada BinGhatti, Chief Executive Officer and Managing Director
Strong Liquidity and Financial Position
Binghatti reported total bank balances of AED 12.4 billion, representing a 40% increase year-to-date. Of this amount, AED 10.9 billion was classified as cash and cash equivalents, compared with AED 3.4 billion at the end of December 2025.
Cash and bank balances, including escrow funds, exceeded the company’s total borrowings of AED 12.2 billion.
Total assets increased 46% year-to-date to AED 35.5 billion, while gross debt to equity stood at 1.1 times. EBITDA covered net finance costs 7.4 times, and the company remained compliant with all its financial covenants.
In February 2026, Binghatti issued a USD 500 million sukuk as part of its funding diversification strategy.
The company has stated that it intends to repay the sukuk in full at maturity in February 2027 using internally generated cash. Its corporate cash balance as of September 30, 2026, was approximately 1.5 times the amount due.
Shehzad Janab, Chief Financial Officer
“Binghatti’s nine-month results demonstrate strong growth in Tangible Net Worth, with debt increasing at a measured and manageable pace.
This reflects our continued focus on strengthening the Group’s capital base, maintaining balance-sheet resilience and pursuing growth through disciplined financial and capital-structure management.”– Shehzad Janab, Chief Financial Officer
Reinvestment Supports Future Growth
During the first nine months of 2026, the business generated AED 5.4 billion in operating cash before working capital.
The Group reinvested AED 4.9 billion into land acquisition and construction to support its next phase of development and deliveries. As a result, net operating cash flow was close to breakeven at AED minus 0.1 billion.
With eight further projects comprising approximately 6,400 units expected to be completed by year-end, the company anticipates improved cash collections from completed developments.
Dubai’s Growth Supports Long-Term Outlook
Binghatti believes that Dubai’s residential property market continues to benefit from population growth, long-term residency trends, economic diversification and supportive government initiatives.
The company expects demand to be increasingly driven by residents and end users, with the right property, pricing and location continuing to play an important role in market absorption.
Infrastructure development is also expected to strengthen the appeal of several residential communities. The Dubai Metro Blue Line, scheduled to open in 2029, and the Gold Line, planned for 2032, will pass through communities that account for 55% of Binghatti’s completed and under-development units.
These include Jumeirah Village Circle, Business Bay, Nad Al Sheba and Dubai Silicon Oasis.
The planned expansion of Al Maktoum International Airport and the introduction of Etihad Rail passenger services, including the proposed high-speed connection to Abu Dhabi, are also expected to improve connectivity across Dubai and the wider UAE.
Binghatti believes its development pipeline, execution capabilities and strategic land bank position it to benefit from these opportunities while maintaining a disciplined approach to capital allocation, balance sheet management and growth.
With 12 projects launched during the first nine months of 2026, a development backlog of AED 33 billion and approximately 2,600 units delivered, the company continues to expand its presence in Dubai’s real estate sector.
SOURCE: BASED ON & AS PER THE MEDIA RELEASE / SUPPLIED CONTENT, QUOTES AND IMAGES
