Bin Ghati: We Currently Rule Out An IPO, Planning Expansion in Abu Dhabi and London

SadaNews - Mohammed Bin Ghati, Chairman of the UAE's "Bin Ghati Holdings", ruled out a public offering for the company in the financial market at the present time, attributing this to the company’s strong financial solvency and the availability of different financial instruments. However, he noted that the offering remains under consideration, and the decision depends on the appropriate timing.

"Bloomberg" reported in October of last year, citing individuals who requested anonymity, that the company was in talks with banks such as "Citigroup", "Morgan Stanley", "Emirates NBD", and "EFG Hermes" to arrange a potential initial public offering in the UAE. The agency added at the time that a spokesperson for "Bin Ghati" stated that the company does not comment on rumors, while representatives from the banks declined to comment.

Bin Ghati pointed out that the company's cash flows are excellent, in addition to the availability of different financial instruments. He mentioned that the escrow accounts contain more than ten billion dirhams, and the sukuk issued by the company received a significant response, successfully raising 1.5 billion dollars, affirming that "the company’s financial situation leads us to see that there is no need for an offering at this time."

Expanding the Land Portfolio

Bin Ghati indicated that the issuance of sukuk helped expand the land portfolio through the acquisition of lands in various areas of Dubai, including Palm Jumeirah, Downtown, and Al Jaddaf, with the latest being the "Mercedes Benz" city. He pointed out that these issuances are used to expand the land portfolio, while cash flows are utilized to execute projects.

The "Bin Ghati" Group for real estate development launched an Islamic investment arm in June last year to manage assets with an initial value of one billion dollars, targeting "professional" clients in the real estate and private credit sectors.

Bin Ghati mentioned that the real estate portfolio raised 460 million dollars, with only 40 million remaining to close it, after which the company will start on the private insurance portfolio targeting to raise the other half billion.

The company achieved record sales last year exceeding 85 billion dirhams and conducted real estate transactions involving over 17,000 residential units in Dubai, according to Bin Ghati, who noted that the company’s portfolio in the Dubai market currently stands at 85 billion dirhams.

Plans to Enter the Abu Dhabi and London Markets

Bin Ghati noted that the time is right to expand into other markets outside Dubai after the company captured the largest market share in the Emirati city, revealing that the plan includes entering the Abu Dhabi and London markets while maintaining the achieved share in Dubai.

The housing market in Dubai continues to enjoy strong momentum, despite fee disruptions and geopolitical tensions in the region. "Bin Ghati" is among the main beneficiaries of the housing market boom. Bin Ghati ruled out any surprises in the city’s real estate market during 2026 under the strong demand, especially from investors outside the country, whose share represented 60% of the total real estate sales.

Bin Ghati expects that real estate unit sales in Dubai will reach one trillion dirhams during this year, after closing last year with record sales of 917 billion dirhams.