Binghatti Holding Achieves Record Profit in Q1 2026

May 11, 2026

66 min

May 11, 2026 09:31

Dubai developer posts record profit as new projects fuels growth

## Record-Breaking Financial Performance

Dubai-based developer Binghatti Holding has announced a record net profit of Dh1.43 billion for the first quarter of 2026. This marks the company's 10th consecutive quarter of record-breaking financial performance, driven by strong demand in Dubai's luxury property market.

## Revenue and Sales Growth

The company's revenue surged by 52% year-on-year, reaching Dh4.39 billion. Binghatti sold over 4,000 residential units, generating Dh5.88 billion in sales. The launch of five new projects, valued at Dh8.58 billion, contributed to this growth, expanding their portfolio significantly.

## Development and Sales Backlog

Binghatti's development backlog now stands at approximately Dh52 billion, with a sales backlog of AED 16 billion and a revenue backlog of AED 18 billion. This provides a strong foundation for future growth.

## Financial Health and Strategy

The company improved its net profit margin to 33%, up from 29% the previous year, and its gross profit margin to 43%. Total assets increased to Dh32.87 billion, with cash reserves at Dh9.9 billion. The successful issuance of a $500 million Sukuk further strengthened its financial position.

## Leadership Insights

Chairman Muhammad Binghatti attributed the success to the company's vertically integrated business model and Dubai's robust real estate market. CFO Shehzad Janab highlighted the company's financial discipline and long-term growth strategy as key factors in their record-breaking results.

Read the full story at the source

What you need to know to get Emirates ID?

Leave your details and get a guide as a gift to avoid mistakes

Article contents