Binghatti acquires mega plot earmarked for an AED25bln landmark residential community
Dubai, UAE – Binghatti Holding Ltd., the Dubai-based real estate developer behind iconic luxury branded residences, has announced that it has acquired freehold land with over 8 million square feet of gross floor area with an anticipated total development value of over AED 25 billion. The land is set to be used for what would be the company's first large-scale master-planned residential community in the Emirate.
Located in Nad Al Sheba 1 in the heart of Dubai's sought-after Meydan district, the land has been set aside for a groundbreaking development designed to deliver a refined and tranquil lifestyle. The area has been long associated with equestrian excellence and home to the original Nad Al Sheba Racecourse, the former venue of the iconic Dubai World Cup. With seamless connectivity to major roads and proximity to Dubai's key landmarks, the planned community will offer both convenience and exclusivity.
Commenting on the announcement, Chairman of Binghatti Holding Ltd., Muhammad BinGhatti said: 'The acquisition of a mega plot for what is expected be our first master-planned development marks a pivotal moment in Binghatti's growth journey. The planned new mega project would build on the strong momentum of our vertically integrated model, which has consistently enabled us to deliver distinctive, high-quality properties ahead of schedule. Our solid financial foundation has allowed us to self-fund the acquisition of the land for what is expected to be a transformative project that will set a new benchmark for integrated living in Dubai.'
Binghatti currently has around 20,000 units under development across about 30 projects in prime residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti's flagship properties are branded residences built in collaboration with Bugatti, Mercedes-Benz, and Jacob & Co. and have attracted celebrity clients including football star Neymar Junior and the opera star Andrea Bocelli.
About Binghatti Holding Ltd.:
Binghatti Holding Ltd. is a renowned Emirati brand in the real estate development sector, holding a leading position with a portfolio exceeding 80 projects valued at over AED 50 billion. Binghatti Holding is led by Chairman Muhammad BinGhatti, whose innovative vision aims to deliver luxurious projects that reflect refined artistic taste and high standards in design and quality.
Binghatti Holding has successfully delivered over 11,000 residential units in the past 16 months, achieving remarkable milestones in collaboration with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Binghatti Holding continues to expand its real estate portfolio to meet the growing market demands, focusing on delivering residential projects that elevate the level of luxury in Dubai.
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