Dubai-based real estate developer Binghatti Holding Ltd has firmly refuted claims made in a Debtwire report regarding an Initial Public Offering (IPO). The report, published on October 16, alleged that the company had released an IPO prospectus and price range. In a statement, Binghatti clarified that no such prospectus or price range has been issued, labeling the report as based on illegitimate sources. The company emphasized that any significant developments or announcements would be communicated exclusively through official channels. This denial comes amidst ongoing discussions with banks, including Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes, to arrange a potential IPO, as reported by Bloomberg earlier this month. Binghatti Holding, a major player in the UAE real estate market, boasts a portfolio of over 80 projects valued at more than Dh80 billion. The company’s H1 2025 financial performance showcased remarkable growth, with net profit tripling to Dh1.82 billion and total sales reaching Dh8.8 billion, driven by robust demand for Dubai’s real estate. Revenue also surged by 189% year-on-year to Dh6.3 billion, underscoring the company’s strong market position.
Dubai-based real estate developer Binghatti denies report on IPO prospectus, price range
