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Real Estate Developer Secures Dh365 Million Parcel Acquisition
Renowned UAE property developer, Binghatti Properties, has bolstered its presence in the coveted Business Bay district through the acquisition of a new parcel, marking a significant investment surpassing Dh365 million. Situated strategically at the heart of Dubai’s vibrant metropolis, Business Bay stands as one of the city’s most prestigious locales. Near the renowned Dubai Mall and boasting stunning vistas of the Burj Khalifa and Dubai Water Canal, the district already hosts several of Binghatti’s flagship projects, including the acclaimed Bugatti Residences in collaboration with the iconic automotive brand Bugatti.
Another notable project is the Burj Binghatti Jacob & Co Residences, a branded tower in partnership with leading watch and jewelry brand Jacob & Co, aspiring to become the tallest residential tower globally. Binghatti has further expanded its portfolio with the announcement of the Mercedes-Benz Places by Binghatti in Downtown, Dubai. Binghatti’s consistent project development expansion across Dubai has significantly contributed to the company’s robust stock value, currently exceeding Dh20 billion.
Aligned with its strategic vision to diversify its project portfolio in Business Bay, Binghatti Properties has completed the acquisition of a new plot with a transaction value exceeding Dh365 million. The company plans to develop and launch this new project alongside its existing portfolio in 2024, promising the same meticulous design language and attention to detail that have become hallmarks of Binghatti’s buildings.
Muhammad BinGhatti, CEO of Binghatti Holding, expressed enthusiasm about the acquisition, stating, “This transaction presents an ideal opportunity to craft and unveil a new luxury development for our esteemed clients and investors. It not only amplifies our land plot value by Dh365 million but also extends Binghatti’s portfolio of plots slated for development and launch in 2024. At Binghatti, our commitment to intricate and detailed design remains unwavering, enabling us to deliver an elevated living experience across all our projects.
