Binghatti Holding Inaugurates $500 Million Green Sukuk, Oversubscribed Four Times

In a significant move towards sustainable financing, Binghatti Holding Ltd, a real estate developer in the UAE, has achieved a milestone with the pricing of its $500 million Green Sukuk.

This issuance, part of a $1.5 billion Trust Certificate Programme, saw an overwhelming response, securing over 4x oversubscription.

The Green Sukuk, set to be listed on both the London Stock Exchange and NASDAQ Dubai, attracted a diverse range of regional and international investors, demonstrating the global appeal of Binghatti Holding’s sustainability initiatives.

The involvement of financial institutions as Joint Global Coordinators, including Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD, J.P. Morgan, and Mashreq, alongside several Joint Bookrunners, further highlights the confidence in Binghatti's strategic direction and its green projects.

The offering was met with robust demand, amassing an orderbook that exceeded USD 2.0 billion, with around half of the interest coming from outside the UAE. This strong investor appetite allowed the sukuk to tighten significantly from its initial pricing guidance, settling at a profit rate of 7.750%, or 416 basis points over the 3-year US Treasury yield.

The adjustment reflects the market's strong confidence in Binghatti Holding's creditworthiness, brand reputation, and its sustainable long-term strategy. The company's commitment to green and sustainable development is evidenced not only by its substantial oversubscription but also by its solid ratings from Moody's and Fitch, both of which have awarded the developer with stable outlooks.

Katralnada BinGhatti, CEO of Binghatti Holding, expressed pride in the Green Sukuk's success, noting it as a critical moment in the company's sustainability journey. "Binghatti's inaugural Green Sukuk marks a pivotal milestone in our sustainability journey, reinforcing our position as one of the region's most dynamic and responsible developers. The strong demand and investor trust shown in the USD 500 million issuance highlights our unique and highly profitable business model, a vertically integrated platform combining rapid growth with a strong commitment to green and sustainable development."

Shehzad Janab, CFO of Binghatti Holding, also reflected on the positive reception from the global investment community, attributing it to Binghatti's distinct position in the market and the overall appeal of Dubai's real estate sector.

"Building on the phenomenal momentum of our July 2025 five-year sukuk—oversubscribed by more than five times—we are delighted by the overwhelming support from the global investor community. The strong demand from both the green and conventional liquidity pools is a testament to the Dubai real estate story and Binghatti's unique market position."

Binghatti Holding has shown remarkable financial performance, with its net profit for the first half of 2025 more than tripling to AED 1.82 billion, driven by the strong demand for real estate in Dubai.

The Group's total sales soared to AED 8.8 billion, with revenue up 189% year-on-year to AED 6.3 billion. This financial success is supported by the launch of seven new projects and the delivery of five developments in the first half of the year, with 15 projects completed in the last 18 months.

The developer's strategic growth is further exemplified by its aggressive development pipeline, including the acquisition of a roughly 9 million sq. ft. mega plot in Nad Al Sheba 1. This site is destined to become Binghatti's first master-planned community, boasting a projected development value of over AED 25 billion.

With around 20,000 units under development across 30 projects in prime Dubai locations, Binghatti's collaboration with luxury partners such as Bugatti, Mercedes-Benz, and Jacob & Co. for flagship branded residences cements its status as a leading developer in the city.