Binghatti Eyes IPO with Citi & Morgan Stanley, Bloomberg Reports

Dubai-based real estate developer Binghatti Holding Ltd. is reportedly exploring an initial public offering (IPO) in the United Arab Emirates, according to a Bloomberg report. The company is in discussions with Citigroup Inc., Morgan Stanley, Emirates NBD, and EFG Hermes regarding a potential listing aimed at capitalizing on the region's current real estate market growth. While Binghatti Holding is working with these four banks, the timing and size of the potential IPO have yet to be determined. Sources familiar with the matter have cautioned that a deal may not ultimately occur.