Binghatti, a leading real estate developer in Dubai, recently announced a successful sukuk tap linked to their debut issuance earlier this year. The tap brought Binghatti’s overall sukuk deal size to $500 million, showcasing strong market position and investor confidence. The demand was record-breaking, with approximately 4.2x oversubscription from both regional and international investors.
The continuous high demand for Binghatti’s sukuk resulted in a price reduction of approximately 20 basis points, indicating the trust and global appeal of the developer. The split between regional and global demand was impressive, with 40 per cent of interest coming from international investors. Binghatti’s strategic collaborations with renowned brands like Bugatti, Mercedes-Benz, and Jacob&Co have further heightened market interest, showcasing their innovative approach to property development.
With a current portfolio value of over ca Dh40 billion, Binghatti solidifies its position as a market leader. The chairman, Muhammad BinGhatti, expressed satisfaction with the exceptional response to the sukuk tap, emphasizing the continued confidence and trust of investors in the brand. Binghatti remains committed to delivering value and driving growth in the real estate sector, highlighting their dedication to stakeholders.
Binghatti’s successful sukuk tap highlights the strong market position and global appeal of the developer. The oversubscription from both regional and international investors, coupled with a price reduction, showcases investor confidence in Binghatti. The strategic collaborations with renowned brands have boosted market interest, emphasizing Binghatti’s innovative approach to property development.
The split between regional and global demand for Binghatti’s sukuk was impressive, with international investors contributing significantly. The developer’s solid portfolio value of over ca Dh40 billion reflects their leadership in the market. The chairman’s commitment to delivering value to stakeholders and driving growth in the real estate sector underscores Binghatti’s dedication to excellence and success.
Muhammad BinGhatti’s statement regarding the sukuk tap highlights the brand’s commitment to delivering value to all stakeholders. The favorable pricing and oversubscription of Binghatti’s sukuk reflect the strength of the brand and its market position. With a focus on innovation and collaboration with renowned brands, Binghatti continues to set new standards in the real estate sector, attracting both regional and global investors.
