Fitch has also given Binghatti a ‘stable outlook,’ reflecting confidence in the company’s continued financial discipline and market leadership.
Dubai’s leading developer, Binghatti Holding, announced that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) and senior unsecured debt from ‘B+’ to ‘BB-’.
The upgrade is attributed to Binghatti’s strengthened financial standing, steady growth momentum, and rising global brand presence.
Fitch’s report highlighted the company’s strong liquidity and prudent financial management, noting a low net debt-to-EBITDA ratio of 0.8 times in 2024.
Binghatti’s robust financial position allows it to self-finance future developments through internally generated cash flow, ensuring long-term growth.
Chairman Muhammad Binghatti stated that Fitch’s rating upgrade is a strong endorsement of the company’s operational excellence, financial discipline, and dynamic expansion strategy.
“The acknowledgment of our financial strength in a highly competitive market underscores our dedication to delivering iconic, architecturally innovative luxury real estate,” he said.
Binghatti noted that Fitch’s rating upgrade follows a recent inaugural rating by Moody’s, reinforcing its status as a leading developer and affirming its ability to create world-class projects that attract global investors and redefine Dubai’s skyline.
Binghatti’s Strategic Growth
The company continues to draw high-profile international investors with luxury, branded real estate collaborations, including partnerships with Mercedes-Benz, Bugatti, and Jacob & Co.
At the same time, it remains committed to meeting strong domestic demand for mid-end luxury properties.
Binghatti has pledged to deliver 21,000 residential units, with a development pipeline valued at approximately AED45 billion.
Revenue projections indicate a sharp rise, exceeding AED20 billion in 2025—more than three times the AED6.3 billion recorded in 2024.
Additionally, the developer has a $500 million sukuk listed on the London Stock Exchange and Nasdaq Dubai.
With a well-established presence in key districts such as Jumeirah Village Circle, Dubai Silicon Oasis, Jaddaf, and Business Bay, its recent entry into Palm Jumeirah marks a significant milestone in its high-profile development portfolio.
