In a ground-breaking collaboration last week, French luxury car powerhouse Bugatti Rimac and UAE real estate developer Binghatti unveiled an upcoming “megaproject,” which is focused on luxurious living: the world’s first Bugatti Residences.
This Bugatti Residences by Binghatti, targeted at ultra-high-net-worth individuals (UHNWIs), boast an impressive 43 floors and 182 units, and will feature Bugatti-branded two, three, and four-bedroom penthouses. The penthouses, comprising of 171 Riviera Mansions and 11 Sky Mansions, will be named after three iconic destinations – Cannes, St Tropez, and Monaco.
Inspired by the gentle ripples of the French Riviera and the dynamic dunes of Dubai, these residences will be located at the ‘heart of Dubai’ which consists of the Downtown Dubai and Business Bay districts.
But, why did Bugatti Rimac choose Dubai as a location for this ‘megaproject’?
“I’m personally very impressed by the leadership here and the bold vision. I mean, that’s what Bugatti is all about. It took immense engineering effort to make it in the same way that like 50 years ago, this was just the desert. And today is this amazing city. So. Dubai is absolutely, I think the right place for us to do build this,” Bugatti Rimac’s chief executive officer, Mate Rimac told Arabian Business in an exclusive interview.
Rimac also added that most Bugatti customers are choosing Dubai not only to move their cars but instead relocate and be based out of the emirate due to its many benefits and offerings.
According to a recent report by Unique Properties, Dubai has emerged as a favoured destination for high-net-worth individuals (HNWIs), with over 68,400 such individuals currently calling it home.
This trend is primarily driven by several factors, including Dubai’s effective handling of the pandemic, its strategically advantageous geographic location, attractive tax benefits, favourable policies, and numerous other compelling advantages.
“This [Dubai] is the place where they want to spend most of their time. Dubai has transitioned, from a desert into one of the most exciting cities in the world. We think that was a very bold vision and very bold execution now became this hub for ultra-high-net-worth individuals (UHNWIs) and for luxury and for travel and, you know, everything that Dubai represents. So Dubai was very clear choice,” he said.
Bugatti Residences by Binghatti was unveiled on May 24 and is the first of its kind in the world. The project is set to be completed over the next three years.
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