Dubai developer Binghatti Holding is exploring a potential IPO, Bloomberg reported.

The developer is planning to hire banks to help it go public in the UAE , Bloomberg reported citing people familiar with the matter.

Binghatti is planning an IPO at a time when Dubai property prices are soaring. Average residential prices in the emirate rose a remarkable 84% between November 2020 and July 2025, including a 20% increase in 2024 and 16% in the first seven months of this year.

The developer opened its first global sales boutique in Knightsbridge, London, in July, and debuted a $500 million sukuk on the London Stock Exchange on August 15, 2025.

"We expect the residential real estate market environment in the UAE (Aa2 stable) — and particularly in Dubai — to remain stable over the next 12 to 18 months despite an increasing pipeline of new housing stock," according to Moody's.

Binghatti has partnered with Mercedes-Benz to build a 65-storey branded residential tower in Sheikh Zayed Road, Dubai.

Binghatti Holding's key leaders include Chairman Muhammad BinGhatti, who is also the CEO and Ahmed BinGhatti, who serves as the Vice-Chairman.

On Monday, Dubai construction firm Alec announced its intention to offer 20% of shares in an IPO.

(Writing by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@lseg.com)