Leading real estate developer in the United Arab Emirates, Binghatti Properties, has expanded its land bank in Business Bay by buying a new plot that cost more than Dh365 million.
One of the most prestigious locations in Dubai is Business Bay, which is ideally situated in the center of the busy metropolis. Some of Binghatti’s most recognizable flagship projects, such as the Bugatti Residences by Binghatti in collaboration with the renowned automotive brand Bugatti, are located in this location, which is also minutes from Dubai’s well-known shopping destination, The Dubai Mall. The location also boasts breathtaking views of the Burj Khalifa and the Dubai Water Canal. Burj Binghatti Jacob & Co Residences, a branded skyscraper in collaboration with well-known watch and jewelry brand Jacob & Co, is situated in Business Bay as well. Its goal is to become the world’s tallest residential skyscraper. Apart from its collection of branded projects, Binghatti also recently unveiled Mercedes-Benz Places by Binghatti in Downtown Dubai.
The recent capture of Binghatti’s stock value at a value exceeding Dh20 billion can be attributed to the company’s expansion of project development throughout Dubai.
According to Binghatti’s plan to increase the size of its project portfolio in Business Bay, the real estate development company has paid more than Dh365 million for a new plot, which it plans to develop and add to its portfolio of projects in 2024. The project will have the same elaborate details and design language that are characteristic of Binghatti’s structures.
Muhammad BinGhatti, CEO of Binghatti Holding said in a recent quote: “This transaction is deemed as the ideal opportunity to design and build a new luxury development for our clients and investors. It will also not only inflate our land plot value by Dh365 Million, but also expand Binghatti’s portfolio of plots which we intend to develop and launch in 2024. At Binghatti, we have always strived towards designing our projects with the most intricate and detailed approach, which enables us to create an elevated experience of living across all our projects.”