Binghatti has announced a net profit of AED 1.43 billion ($389.3 million) for the first quarter of 2026, marking its tenth consecutive record‑breaking quarter. The Dubai‑based developer continues to benefit from strong off‑plan demand and its vertically integrated development model.

Financial Performance

The company recorded AED 4.39 billion in revenue, a 52 percent increase compared to the same period last year. EBITDA rose 83 percent to AED 1.83 billion, reflecting improved margins and operational efficiency.

Sales and Project Pipeline

Binghatti sold more than 4,000 units valued at AED 5.88 billion during the quarter. It also launched five new projects worth AED 8.58 billion, adding nearly 4,700 units to its development pipeline.

Balance Sheet and Backlog

Total assets reached AED 32.87 billion, supported by a cash position of AED 9.9 billion. The company reported a development backlog of AED 52 billion and a revenue backlog of AED 18 billion, providing strong visibility for future earnings.

Market Position

Leadership attributed the strong results to Dubai’s resilient real estate market and Binghatti's ability to scale rapidly while maintaining profitability. The company's recent USD 500 million sukuk, oversubscribed 4.4 times, further strengthened its capital structure.