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Binghatti has put its IPO on hold and is preparing a multi-billion-dollar deal with a major master developer in Dubai.
The partner has not yet been named, but Muhammad Binghatti did not rule out the possibility that it could be a state-linked entity (he said "perhaps"). The aim of the deal is to gain access to large strategic land plots and new projects across Dubai.
They plan to close the deal by the end of 2026 or in early 2027.
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