A leading real estate developer in the United Arab Emirates has celebrated the debut of its $500 million 5-year Senior Unsecured Sukuk on the London Stock Exchange with a ceremonial bell-ringing event.
A statement released by Binghatti Holding Ltd on Wednesday said that the sukuk, issued under Binghatti’s $1.5 billion Trust Certificate Issuance Program, was oversubscribed five times, attracting over $2.5 billion in orders from a diverse pool of regional and global investors.
The issuance was priced with a profit rate of 8.125%. The company is rated BB- by Fitch and Ba3 by Moody’s, both with stable outlooks.
Founder Dr. Hussain BinGhatti, Chairman Muhammad BinGhatti and Chief Executive Officer Katralnada BinGhatti, accompanied by other senior executives and lead arrangers, rang the opening bell at the London Stock Exchange to celebrate the listing. The Sukuk will also be listed on Nasdaq Dubai.
Muhammad BinGhatti said that the listing of the sukuk on the London Stock Exchange is a clear signal of the company’s commitment to engaging proactively with global investors and operating at the highest standards of transparency and governance.
“The landmark sukuk issuance enjoyed strong international demand, allowing us to close the books ahead of schedule and reinforcing market confidence in our credit profile, operational resilience, and growth strategy,” he added.
The statement also quoted Katralnada BinGhatti as saying that Binghatti’s sukuk program reflects a commitment to diversifying the company’s funding base, extending its maturity profile, and efficiently deploying capital to capture emerging opportunities.
“With close to 50% of allocations going to non-GCC investors, we are pleased to see growing global recognition of Binghatti’s unique positioning in Dubai’s real estate sector,” she said.
The issuance and the strong demand come on the back of Binghatti Holding’s strong H1 2025 results. During the first half, the company’s net profit more than tripled to AED1.82 billion (around $495 million), driven by resilient demand for Dubai real estate.
The Group’s total sales reached AED8.8 billion, with revenue climbing 189% YoY to AED6.3 billion ($1.7 billion).
Binghatti Holding Limited is one of the UAE’s fastest-growing real estate development companies, with a rapidly expanding portfolio that spans over 80 projects valued at more than AED70 billion (around $19 billion).
