Binghatti Posts AED 3 Billion Half-Year Profit as Dubai Off-Plan Demand Powers a 64% Jump

Binghatti, one of Dubai's most prolific residential developers, has reported a sharp rise in earnings for the first six months of 2026, a result that underlines how firmly buyer appetite for the city's off-plan homes has held up through the year.

The company said net profit for the half reached AED 3 billion, a 64 percent increase on the same period last year. Revenue climbed 50 percent to AED 9.5 billion, while gross profit rose 66 percent to AED 4.3 billion and EBITDA, a common gauge of operating performance, was up 75 percent at AED 3.8 billion.

Launches and handovers both accelerated

Behind the numbers sat a busy delivery schedule. Binghatti brought eight new projects to market in the first half and handed over roughly 1,700 homes to buyers over the same stretch. That pace leaves the developer with a large pipeline still to convert into revenue: it put its development backlog at AED 44.2 billion and its revenue backlog at AED 17.3 billion.

Two projects stood out as markers of where the company is heading. Mercedes-Benz Places, part of the wider Binghatti City plan, is its first attempt at a full master-planned community rather than a single tower, while Tilal Binghatti signals its move into villa development, a segment that has drawn heavy demand across Dubai this year.

A stronger balance sheet

Binghatti also pointed to a healthier financial base. It closed June with around AED 10 billion in liquidity and, during the half, raised a 500 million dollar sukuk maturing in 2031 that drew orders 4.3 times the amount on offer. Moody's kept its rating at Ba3. Chairman Muhammad Binghatti said the period paired strong financial results with real strategic progress, as the group pushed further into master communities and villas.

What it signals for the wider market

The results land at a moment when Dubai's headline data has shown record handovers but a slowdown in brand-new launches, raising questions about how long the current cycle can run. A half-year like this from a developer built almost entirely on off-plan sales suggests demand for the pre-construction product has not cooled, at least at the more affordable end where Binghatti concentrates. For buyers and investors weighing where to put money next, it is worth watching how the emirate's busiest builders are pricing and delivering, and Doment lets you compare Dubai's leading property developers and the projects they have in the ground before committing.