Dubai-based developer Binghatti launched an asset management arm, Binghatti Capital, aiming to handle up to USD 1 bn in Shariah-compliant private credit and real estate investments, Reuters reports. The new firm, which has obtained regulatory approval to serve professional clients, will operate out of the Dubai International Financial Center (DIFC).

The move aims to “diversify capital sources,” “enhance liquidity,” and expand access to alternative capital, Chairman Ahmed Binghatti said in an interview with Bloomberg (watch, runtime: 5:20). The company’s real estate strategy will focus on acquiring and selling off-plan residential properties, as well as developing and selling residential projects, according to the statement. The private credit strategy will target supply chain financing within the real estate sector.

We are looking to attract “qualified investors, like institutional investors, high net worth investors, as well as family offices,” Binghatti said.

REMEMBER- Binghatti currently has nearly 30 projects in development, including the AED 25 bn community in Meydan, the AED 5 bn Binghatti Skyrise in Business Bay, an AED 4 bn project in Al Jaddaf, and a AED 600 mn residential development in Jumeirah Village Circle.

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