Dubai-based developer Binghatti Holding Ltd. has started preparations for a potential initial public offering, as it seeks to capitalize on the multi-year real estate boom sweeping the emirate.
The firm is seeking to hire banks to help it go public in the United Arab Emirates, according to people familiar with the matter, who declined to be named while discussing confidential information.
A representative for Binghatti said it “declined to comment on market rumour and speculation.”
Binghatti is building what’s planned to be one of the world’s tallest residential towers and has announced a Mercedes-branded tower.
The developer issued a $500 ...
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