Time of al Arab

Category: Dubai

  • Binghatti Holding’s $500M Sukuk Debuts on Nasdaq Dubai, Raising Total Listings to $1B

    Binghatti Holding’s $500M Sukuk Debuts on Nasdaq Dubai, Raising Total Listings to $1B

    Binghatti Holding’s $500M Sukuk Debuts on Nasdaq Dubai, Raising Total Listings to $1B

    Dubai-based property developer Binghatti Holding has listed a new $500 million sukuk on Nasdaq Dubai, bringing the company’s total sukuk listings on the exchange to $1 billion. The announcement was made on Tuesday and marks another step in the company’s fast growth and rising profile in Islamic finance.

    Strong demand for the sukuk

    The sukuk is part of Binghatti’s larger $1.5 billion trust certificate program. It will mature in 2030 and attracted strong investor interest. In fact, subscriptions crossed $2.5 billion, which is more than five times the size of the offer. Because of this heavy demand, the company was able to set the final profit rate at 8.125%, slightly better than its initial guidance.

    The sukuk was listed on both Nasdaq Dubai and the London Stock Exchange, underlining Binghatti’s growing international reach. A bell-ringing ceremony was held to celebrate the occasion, attended by Binghatti’s Chairman Muhammad BinGhatti and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Both leaders described the sukuk issue as a key achievement for Binghatti and as further evidence of Dubai’s growing importance as a hub for Islamic finance.

    With this deal, Nasdaq Dubai now has 108 sukuk listings with a total value of $98.6 billion, making it one of the world’s largest platforms for such instruments.

    Investor confidence

    Commenting on the strong response, Muhammad BinGhatti said that investor demand reflects confidence in the company’s long-term vision and financial strength. The developer currently holds credit ratings of BB- from Fitch and Ba3 from Moody’s, both with a stable outlook. These ratings signal that Binghatti is viewed as a stable company with manageable risks, which helps attract global investors.

    Financial performance in 2025

    Binghatti’s financial results for the first half of 2025 highlight its strong momentum in the Dubai property market. The company reported a net profit of $490.1 million (AED 1.8 billion), which is more than three times higher than the profit recorded in the same period last year.

    Revenues jumped by 189% to reach $1.7 billion (AED 6.3 billion), while sales rose to $2.4 billion (AED 8.8 billion). These figures show how rapidly the company is expanding as demand for real estate in Dubai continues to climb.

    During the first six months of the year, Binghatti launched seven new projects and successfully completed five others. Over the past 18 months, the company has handed over 15 projects, strengthening its reputation for delivering on schedule.

    In addition, the company reported a revenue backlog of $3.4 billion (AED 12.5 billion). This represents money from projects already sold but not yet recognized as revenue. Binghatti also has a development pipeline worth over $19 billion (AED 70 billion), signaling many more projects in the future and confirming its place as one of Dubai’s fastest-growing developers.

    Looking ahead

    The combination of strong sukuk demand, solid financial results, and an ambitious project pipeline positions Binghatti as a key player in Dubai’s booming real estate and financial markets. With this new listing, the company not only raised funds for growth but also strengthened Dubai’s role as a leading global center for sukuk and Islamic finance.

    Published: 3rd September 2025

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  • Indian Companies Lead Dubai Chamber’s New Memberships in First Half of 2025

    Indian Companies Lead Dubai Chamber’s New Memberships in First Half of 2025

    Indian Companies Lead Dubai Chamber’s New Memberships in First Half of 2025

    Indian companies added the most new registrations at the Dubai Chamber of Commerce in the first half of 2025. More than 9,000 Indian firms joined, a rise of 14.9% compared to last year, according to a report released on Wednesday.

    New Memberships by Country

    • Pakistan came second with 4,281 new firms.

    • Egypt was third with 2,540 firms, up 8.3%.

    • Bangladesh grew the fastest, rising 37.5% to 1,541 firms, taking fourth place.

    • UK was fifth with 1,385 companies, up 11.1%.

    • Syria ranked sixth with 945 firms.

    • China followed with 772 firms, up 3.8%.

    • Jordan came eighth with 688 firms.

    • Türkiye was ninth with 642 firms.

    • Canada was tenth with 535 firms.

    Dubai’s Growing Role

    Overall, the Dubai Chamber of Commerce welcomed 35,532 new companies in the first half of 2025, showing a 4% increase from last year. This highlights Dubai’s role as a top global hub for foreign investment and international business expansion.

    Sectors with Most Activity

    • Wholesale & retail trade and real estate, renting, and business services each made up 35% of new businesses.

    • Construction accounted for 17.3%.

    • Transport, storage & communications and social & personal services each had 7.6%.

    Dubai International Chamber

    The Dubai International Chamber, another branch of Dubai Chambers, also saw strong growth. It attracted 143 new companies in the first half, a 138% increase from last year. These included 31 multinational firms and 112 small and medium enterprises (SMEs).

    Published: 29th August 2025

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  • Business Bay, JVC, and Downtown Top Dubai’s Property Market in 2025

    Business Bay, JVC, and Downtown Top Dubai’s Property Market in 2025

    Business Bay, JVC, and Downtown Top Dubai’s Property Market in 2025

    Business Bay has become one of the most popular areas for property buyers in Dubai. Its central location, busy business scene, and steady supply of new projects are attracting strong interest, especially from buyers in India, the UK, and the Gulf region.

    Key market trends

    Jumeirah Village Circle (JVC) is also seeing strong demand. Many Indian and British buyers prefer it for its lower prices, good rental returns, and growing number of off-plan projects, according to a new report by Bayut, Dubizzle, and Driven Properties.

    For luxury apartments, Downtown Dubai and Dubai Creek Harbour remain top choices. Al Furjan is popular with middle-income buyers who want affordable homes with good access and community facilities.

    Technology is also shaping the market. Tools like Bayut’s TruEstimate, which uses AI to give accurate property values and verified data, are making the process more transparent—especially for overseas buyers.

    Global investor interest

    Dubai continues to attract a wide range of international investors. Driven Properties’ data shows that Indian buyers lead the market, followed by buyers from the UK, Pakistan, Canada, and Lebanon. These five groups account for more than half of all sales.

    Canadian buyers, though fewer in number, are making some of the biggest deals—like a recent $12.53 million (AED 46 million) purchase in Al Wasl.

    Overall, demand is rising from South Asian, North American, and European investors, with many focusing on new off-plan communities.

    Apartments and villas

    Apartments dominate the market, making up over 91% of all transactions in the first half of the year. Indians, Britons, and Pakistanis are the most active buyers.

    Villas and townhouses, though fewer in number, are attracting wealthy buyers—mainly from the UK and France—who want bigger homes in planned communities such as Al Furjan and Dubai Hills Estate. Prices for villas continue to rise, with strong sales in areas like Arabian Ranches 3 and Dubai South, driven by both investors and families looking to move in.

    Published: 20th August 2025

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  • Dubai International Chamber Welcomes 143 New Companies in H1 2025

    Dubai International Chamber Welcomes 143 New Companies in H1 2025

    Dubai International Chamber Welcomes 143 New Companies in H1 2025

    The Dubai International Chamber, part of Dubai Chambers, attracted 143 new companies in the first half of 2025, which is a 138% increase compared to last year.

    Out of these, 31 were multinational companies and 112 were small and medium-sized enterprises (SMEs).

    At the same time, the Dubai Chamber of Commerce, another branch of Dubai Chambers, added 35,532 new members, a 4% rise from last year.

    Exports and re-exports from members reached $46.8 billion (AED 171.9 billion), up 18%. The Chamber also issued 409,083 Certificates of Origin (10% increase) and processed 2,961 ATA Carnets for goods worth $528 million (AED 1.94 billion).

    Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, said Dubai is becoming a strong global hub for foreign investment and international business expansion. He added that the Chamber’s network of international offices plays a big role in attracting investors, building trade ties, and supporting partnerships between Dubai companies and global markets.

    As part of the Dubai Global initiative, which aims to open 50 international offices by 2030, the Chamber opened five new offices in Dhaka, Cape Town, Bengaluru, Bangkok, and Toronto in H1 2025.

    These offices hosted 247 business roundtables, promoting Dubai as a launchpad for international growth and attracting more foreign investment. The network now helps link Dubai with world business communities, encouraging two-way investments, trade, and partnerships.

    The offices also provide market research and tailored support to help foreign companies set up in Dubai and connect with local opportunities.

    Published: 19th August 2025

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  • Dubai’s Apparel Group Partners With PRYPCO Blocks for ‘Spend to Invest’ Program

    Dubai’s Apparel Group Partners With PRYPCO Blocks for ‘Spend to Invest’ Program

    Dubai’s Apparel Group Partners With PRYPCO Blocks for ‘Spend to Invest’ Program

    Apparel Group in Dubai has joined with PRYPCO Blocks, a fractional real estate platform, to start a new program called “Spend to Invest.” This program lets members of the Club Apparel loyalty program turn their shopping rewards into property ownership.

    With almost 4 million members in the UAE, Club Apparel shoppers can now use their earned points to buy small shares in Dubai properties through the PRYPCO Blocks app. Investments start from just $544.5 (AED 2,000), while members can still enjoy their usual shopping rewards.

    Sima Ganwani Ved, founder and chairwoman of Apparel Group, said the goal is to give customers more value by helping them use shopping rewards to invest in their future and even move toward homeownership.

    PRYPCO Blocks, founded by Amira Sajwani, is a platform regulated by the Dubai Financial Services Authority (DFSA). It allows people from over 200 countries to buy fractional shares in income-generating properties and receive monthly rental income.

    This is not the first loyalty partnership for Apparel Group. In October, it teamed up with Saudi Arabia’s Mobily, allowing Neqaty members to redeem points for fashion, footwear, beauty, and accessories. These partnerships help increase store traffic, customer engagement, and brand reach.

    A McKinsey report shows that today’s customers expect more value, and traditional discounts are no longer enough. Brands that combine pricing, loyalty programs, and personalization gain an advantage. Offering special deals—similar to Amazon Prime’s free shipping and Prime Day discounts—helps attract more members, boost spending, and build long-term loyalty.

    Published: 14th August 2025

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  • Dubai Residential REIT Sees 10% Profit Growth in First Half, Reaches $169.3 Million

    Dubai Residential REIT Sees 10% Profit Growth in First Half, Reaches $169.3 Million

    Dubai Residential REIT Sees 10% Profit Growth in First Half, Reaches $169.3 Million

    Dubai Residential REIT reported a 10% increase in net profit for the first half of 2025, reaching $169.3 million (AED 622 million). The rise was due to strong property occupancy and good business performance.

    Strong First-Half Results

    Revenue grew 10% from last year, totaling $260.8 million (AED 958 million). This was helped by steady leasing activity and higher rents across its residential properties.

    The company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 11% to $195.5 million (AED 718 million), thanks to better revenue and efficient operations. The profit margin stayed strong at 75%.

    The average occupancy rate across all properties was 98%, and income per leased area went up by 6%.

    Here’s a look at occupancy by segment:

    • Premium properties: 98%

    • Community living: 97%

    • Affordable housing: 99%

    • Corporate housing: 100% (fully occupied)

    The company’s strong performance was supported by high rental income, excellent occupancy, and good financial management.

    As of the end of June 2025, the total value of its assets was $6.26 billion (AED 23 billion), a 7% increase from December 2024.

    Dubai Residential REIT is a Shariah-compliant trust managed by DHAM REIT Management. It focuses on income-generating residential properties.

    Dividend Update

    The Board has approved an interim cash dividend of $149.7 million (AED 550 million), which will be paid in September 2025.

    Starting from the year ending December 2026, the REIT plans to pay out at least 80% of its profit (before property value changes) each year.

    Published: 7th August 2025

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  • Dubai Completed $1.2 Billion Worth of Property Projects in First Half of 2025

    Dubai Completed $1.2 Billion Worth of Property Projects in First Half of 2025

    Dubai Completed $1.2 Billion Worth of Property Projects in First Half of 2025

    Dubai finished 24 real estate projects worth $1.2 billion (AED 4.5 billion) in the first half of 2025. This shows the city’s property market is still growing fast, according to the Dubai Land Department (DLD), as reported by Emirates News Agency (WAM).

    Strong Real Estate Growth

    Dubai’s property market continues to grow quickly. Right now, 726 real estate projects are under construction across the city, showing strong interest from both developers and investors.

    Between January and June 2025, developers added 90,337 new real estate units. These homes are being built to meet rising demand for ready-to-move, eco-friendly housing with modern amenities.

    During the same time, 75,347 real estate units were sold for a total of $41.1 billion (AED 151 billion). This shows that buyers still have strong confidence in Dubai’s real estate market.

    Villa sales were especially good, with 7,167 villas sold for over $7.6 billion (AED 28 billion).

    The rental market also stayed strong. In the first half of 2025, 465,738 lease contracts were registered, with a total value of $11.4 billion (AED 42 billion)—a 5% increase from the same time in 2024.

    Easier Path to Buying a Home

    In July, Dubai introduced the First-Time Home Buyer Program, created by the Dubai Land Department and the Dubai Department of Economy and Tourism. It’s designed to help more Emiratis and expats buy their first home.

    The program gives buyers early access to new projects, better prices, and special mortgage deals. It supports the Dubai Real Estate Strategy 2033, which aims to increase homeownership and boost the property sector’s role in the UAE economy.

    Big developers like Emaar, DAMAC, and Nakheel are offering early deals on off-plan homes priced up to $1.4 million (AED 5 million). Banks including Emirates NBD, Dubai Islamic Bank, and Mashreq are offering custom mortgage plans for first-time buyers.

    Published: 5th August 2025

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