Binghatti Holding Ltd has purchased freehold land totaling more than 8 million square feet of gross floor area for its first large-scale master-planned residential complex in Dubai.
The Dubai-based real estate developer, famed for its luxury-branded properties, estimates the construction to be worth more than AED 25 billion.
The plot is located in Nad Al Sheba 1 in Dubai’s Meydan area. The location was originally home to the Nad Al Sheba Racecourse, which hosted the Dubai World Cup. The site preserves access to major routes and is close to Dubai’s significant landmarks.
Binghatti’s first master community
The planned neighborhood will provide inhabitants a refined and serene lifestyle while still providing convenience and exclusivity.
Muhammad BinGhatti, Chairman of Binghatti Holding Ltd., 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 is currently developing roughly 20,000 apartments across 30 projects in prominent residential neighborhoods throughout Dubai.
These include Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City, and Sports City.
The company’s flagship properties include branded residences designed in conjunction with Bugatti, Mercedes-Benz, and Jacob & Co.
These advancements have attracted celebrity clients such as football player Neymar Junior and opera singer Andrea Bocelli.
The Nad Al Sheba 1 site marks Binghatti’s first foray into master-planned community development, expanding beyond its existing portfolio of luxury tower complexes in Dubai’s top locales.
