The family-owned developer from the UAE, Binghatti, on Wednesday night, unveiled Bugatti Residences in Dubai, the French luxury carmaker’s first residential project ever, as the demand for branded and ultra-luxury residences continues to dominate the local real estate market in the wake of the pandemic.
The 43-story ultra-luxury building, which is located in Business Bay, will have 171 mansions and 11 sky mansion penthouses, each of which will take up an entire level.
Prices start at Dh19.09 million, named after the year that Bugatti was founded, 1909. Every apartment will have a view of the Burj Khalifa Downtown on the other side and the Dubai Water Canal on each.
The first Bugatti residence will feature two garage-to-penthouse car lifts, a private beach with amenities inspired by the Riviera, a private pool, a spa with a jacuzzi, a fitness center, and a chef’s table.
Interestingly, because each unit will have a designated parking space, the ultra-high-net-worth residents of Bugatti Residences by Binghatti will be able to drive into the lift and then right into their floor. Twenty parking spaces will be available in the tallest penthouse.
Special cars owned by residents will get exhibition space on one of the floors. Within three and a half years, the project is expected to be finished.
According to Savills’ research, based on the supply of finished and upcoming projects, Dubai is the world’s top place for branded apartments.
By pipeline volume, more than 30 new schemes are anticipated to be added in each of the US, UAE, Vietnam, and Mexico by 2027.
“When you open the door of a Bugatti and sit inside, you know instantly that it’s very special; something truly incomparable. With Bugatti Residences, we wanted to translate this feeling into a highly exclusive retreat in the Heart of the Metropolis. Every great brand that has made a global impact on the planet – be it through a car, a watch, or any luxury item – begins with a rooted design ethos and a clear philosophy towards a specific lifestyle. We have built the Binghatti brand along similar pillars,” said Muhammad Binghatti, CEO of Binghatti.
Mate Rimac, CEO, Bugatti Rimac, said many firms reach out to them for Bugatti branded products such as phones, bicycles, and scooters but they rejected them in order to protect the brand’s identity and uniqueness. “We were discussing real estate for quite a while and a lot of people were coming to us but we never found a partner that meets our standards. When Muhammad Binghatti reached out to us, then we found that they were the right partner and Dubai is the right location. They have the right expertise and financial strength – ticking all the boxes. The most important thing is they are really standing behind this project – not just managers running the project but the entire Binghatti family,” said Rimac.
Binghatti said all of the company’s projects meet the highest sustainability standards. “We want to take the experience that people enjoy at Palm Jumeirah and French Riviera and plant it in the heart of the metropolis. We want to integrate car experience into the project,” he added.