Dubai-Based Real Estate Developer Binghatti Denies Report On IPO Prospectus, Price Range

2025-10-17 03:51:49

(MENAFN- Khaleej Times)

Real estate developers Binghatti Holding Ltd have issued a statement denying all information published in Debtwire report published on October 16 regarding an Initial Public Offering (IPO).

"Binghati Holding has not published an IPO prospectus or a price range, as reported in the Debtwire article, which cites information from an illegitimate IPO prospectus. Any material developments or announcements by Binghatti Holding will be communicated through official channels," their statement read.

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The group is in talks with banks to arrange a possible initial public offering, according to a Bloomberg report from earlier this month. They are said to be working with Citigroup Inc., Morgan Stanley, Emirates NBD and EFG Hermes on a potential deal, Bloomberg reported, quoting people familiar with the matter.

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Binghatti Holding Ltd. is one of the leading real estate developers in the UAE, with a portfolio exceeding 80 projects valued at over Dh80 billion.

Their H1 2025 net profit more than tripled to Dh1.82 billion, driven by resilient demand for Dubai real estate. The group's total sales reached Dh8.8 billion, with revenue climbing 189 per cent YoY to Dh6.3 billion.

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