Ben Ghaith Holding, a real estate firm based in Dubai, is preparing for a potential initial public offering (IPO) as it aims to capitalize on the ongoing real estate boom in the emirate that has lasted several years.
The company is in the process of selecting banks to assist with the launch of its public share offering in the UAE, according to insiders who requested anonymity while discussing confidential information.
Last month, the company issued sukuk worth $500 million.
In the first half of the year, Ben Ghaith reported a net profit of 1.82 billion dirhams ($496 million), showing a 172% increase compared to the same period last year.
The firm is considering the IPO as the Dubai real estate market continues on an upward trajectory, persisting through the second quarter of 2025 despite geopolitical tensions and trade disruptions related to tariffs.
The property boom in Dubai is compelling various companies in the sector to explore listing opportunities. Bloomberg reported that firms such as Alok for Engineering and Contracting, the Arab Construction Company, and the online real estate platform Dubizzle are preparing for listings in the UAE.
In May, Dubai Holding’s Dubai Residential REIT raised $584 million through the listing of a residential real estate investment trust and plans to list a portfolio that includes shopping centers and retail assets.
Simultaneously, Dubai Investments is planning to list a unit that manages one of the largest mixed-use development projects in the emirate.