Binghatti posts record Q1 2026 with AED 1.43bn net profit, strong sales and $500m sukuk
Binghatti posts record Q1 2026: AED 1.43bn net profit, AED 4.39bn revenue, $500m sukuk and Mercedes‑Benz Places project bolster Dubai luxury pipeline.
Binghatti, the Dubai-based developer, reported record financial results for the quarter ended March 31, 2026, with net profit reaching AED 1.43 billion and revenues rising to AED 4.39 billion. The company said the performance was driven by robust sales, disciplined operations and continued demand across its diversified property portfolio. Management described the quarter as the tenth consecutive period of exceptional results, underscoring momentum across both residential sales and new project deliveries.
Binghatti reports AED 1.43bn net profit for Q1 ended March 31, 2026
Binghatti’s net profit jumped 73% year-on-year to AED 1.43 billion for the first quarter of 2026, the company announced. The results mark a significant uplift from the same period in 2025 and reflect higher project completions and revenue recognition.
Binghatti also highlighted that first-quarter EBITDA rose to AED 1.83 billion, an 83% increase compared with the prior year. Management said the EBITDA improvement was a product of better operational leverage and higher-margin project mix.
Revenue and EBITDA surge on strong sales
Total revenue for the quarter reached AED 4.39 billion, up 52% from Q1 2025, supported by continued sales activity across Dubai. The group reported sales of AED 5.88 billion during the quarter from the disposal of more than 4,000 units, illustrating sustained market appetite.
Binghatti noted that the revenue growth translated into a larger backlog and visibility on future receipts, with future revenue streams underpinned by the company’s active project pipeline. The firm emphasized that steady handovers and pre-sales were central to its top-line expansion.
Margins strengthen and balance sheet deepens
Profitability metrics improved alongside growth, with net profit margin widening to 33% from 29% a year earlier and gross margin rising to 43%. The improvement in margins reflected a combination of cost discipline, favorable project mix and higher-margin sales recognition.
Binghatti reported total assets of AED 32.87 billion and cash and cash equivalents of AED 9.9 billion at quarter end, signaling a strengthened balance sheet. Management said the liquidity position and asset base position the company to support its development pipeline and strategic growth plans.
Sales momentum: 4,000+ units sold and five project launches
During the quarter the developer launched five new projects with a combined development value of AED 8.58 billion, adding 4,696 units to its pipeline. The company said these launches complemented the sales achieved, contributing to a robust development schedule.
Projects under development now total around AED 52 billion in value, while the company carries a cumulative sales backlog close to AED 16 billion and expected future revenues of roughly AED 18 billion. Executives described the sales backlog as a strong revenue cushion for the coming years.
$500m sukuk attracts global investor demand
In a notable capital markets move, Binghatti issued a $500 million sukuk with a five-and-a-half-year tenor during the quarter. The company said the offering was the longest-dated sukuk issued by a private UAE developer to date and was covered more than 4.4 times, reflecting international investor confidence.
Management noted the sukuk strengthened Binghatti’s capital structure and broadened its investor base across regional and global markets. The firm also indicated proceeds would support ongoing development activity and liquidity management.
Davos reveal: Mercedes‑Benz Places | Binghatti City unveiled
At the World Economic Forum in Davos in 2026, Binghatti unveiled the Mercedes‑Benz Places | Binghatti City project, billed as the world’s first residential city to carry the Mercedes‑Benz brand. The development carries an estimated development value of approximately AED 30 billion and targets the luxury residential market in Dubai.
Company leadership said the collaboration is intended to elevate Dubai’s position in premium branded residences and attract global luxury buyers. Officials described the project as a strategic milestone that aligns with Dubai’s appeal to high-net-worth international investors.
Binghatti executives highlighted the quarter’s results as evidence of the company’s integrated business model and ability to convert Dubai’s real estate momentum into sustained profitability. The CFO noted that disciplined cash management, a strong liquidity buffer and successful capital markets access were central to supporting the group’s expansion.
Looking ahead, Binghatti said the combination of a sizeable development pipeline, a significant sales backlog and enhanced funding flexibility provides a clear runway for continued growth. Management reiterated confidence in Dubai’s regulatory and economic environment as a durable attractor of capital and demand for premium real estate.