BINGHATTI-

Dubai-based real estate developer Binghatti Holding reported a net income of AED 1.8 bn in 1H 2025, a 172.3% y-o-y jump from 1H 2024, according to its financials (pdf). Revenues also saw a big jump, reaching AED 6.3 bn during the six-month period, up from AED 2.2 bn during the same period last year.

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The results come on the back of a busy 1H for Binghatti, during which it launched an asset management arm to handle up to USD 1 bn in shariah-compliant private credit and real estate investments, and acquired freehold land in Dubai’s Meydan district for an AED 25 bn development. The firm currently has almost 30 projects underway and is also exploring real estate tokenization, with plans to enable investors to enter the market with as little as AED 500.

RAKBANK-

The National Bank of Ras Al Khaimah (Rakbank) saw its bottom line come in at AED 669.3 mn during 2Q 2025, up 29.8% y-o-y, according to the bank’s financial statements (pdf). The lender recorded AED 1.3 bn in operating income, up 8.2% y-o-y, as non-interest income rose to AED 361.8 mn. This is up 24% y-o-y and was driven by diversified fee income, FX revenues, and investment gains, according to a separate earnings release (pdf).

On a six month basis, operating income totaled AED 2.6 bn, a 9.5% uptick y-o-y. The lender’s bottom line rose 26.1% to AED 1.4 bn. Net interest income fell marginally during the period, but non-interest income grew 35.6% to AED 795.2 mn.

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