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Dubai luxury developer Binghatti plans to invest AED 30 bn in real estate over the next two years, Binghatti Vice Chairman Ahmed Binghatti told Asharq Business. Binghatti will focus its investments inside the UAE, with expectations of continued real estate growth in the country. With the successful listing of the company’s inaugural USD sukuk on the London Stock Exchange, Binghatti plans on exploring potential real estate investments in London.
Remember: Binghatti’s inaugural USD 300 mn three-year sukuk issuance saw strong demand, with investors placing USD 621 mn in orders. The listing is 2.1x oversubscribed. Binghatti highlighted that the successful issuance offered the group a chance to engage with a broad investor spectrum, emphasizing its appeal to a diverse base in Asia, Europe, and the Middle East.
No plans on future issuances: With the company’s current rapid growth, Binghatti does not plan on future issuances, according to the vice chairman, who notes that any decision to issue will depend on market conditions and the company’s needs.
