Dubai-based Binghatti Holding reported a 65% year-on-year increase in net profit to AED4.4 billion ($1.2 billion) for the first nine months of 2026, exceeding its full-year 2025 profit of AED3.6 billion, as revenue rose 66% to AED14.9 billion.

Sales increased 11% to AED14.2 billion in the nine months ended September 30, while total equity rose to AED11.2 billion from AED6.8 billion at the end of 2025.

Revenue in the third quarter more than doubled year-on-year, while sales rose 7% to AED4.6 billion, the company said.

Binghatti completed five projects during the period — Binghatti Apex, Binghatti Ghost, Binghatti Ivory, Binghatti Haven and Binghatti Grove — handing over approximately 2,600 units. Eight further project completions are expected by the end of 2026.

The developer's contracted revenue backlog stood at AED16.4 billion, which it expects to recognise over the next one to three years. A further AED4.7 billion in trade receivables and contract assets is largely expected to be collected upon project handovers.