Dubai-based developer Binghatti Holding has officially refuted a report claiming it had published an IPO prospectus and price range. The company clarified that any official announcements regarding a public offering would be made through its designated channels, addressing recent market speculation.
Dubai-based real estate developer Binghatti Holding issued a formal statement on Friday, October 17, denying a recent media report concerning an Initial Public Offering (IPO). The company addressed an article published by Debtwire on October 16, which claimed to have details of an IPO prospectus and share price range.
In its official communication, Binghatti clarified its position on the matter, stating the information was unfounded.
“Binghatti Holding has not published an IPO prospectus or a price range, as reported in the Debtwire article, which cites information from an illegitimate IPO prospectus. Any material developments or announcements by Binghatti Holding will be communicated through official channels,” the statement read.
The denial comes amid heightened market speculation about the developer’s potential move to go public. Earlier this month, a Bloomberg report suggested that the company was in discussions with several major banks, including Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes, to arrange a possible listing.
The interest in a potential public offering is fueled by the company’s robust financial performance and the strength of the UAE’s property sector. Binghatti Holding, which has a portfolio of over 80 projects valued at more than Dh80 billion, reported that its net profit for the first half of 2025 more than tripled to Dh1.82 billion. During the same period, total sales reached Dh8.8 billion, with revenue increasing by 189% year-on-year to Dh6.3 billion.
The company’s rapid growth has led to reports that it explores potential IPO opportunities. This move would align with the exceptional performance of the city’s real estate market, as Dubai real estate sales continue to set new records.
While the company has refuted the latest report, the statement leaves the possibility of a future IPO open, signalling that any such development will be formally announced.
