Binghatti Developers announced plans to launch 12 new real estate projects in the second half of 2024, representing an investment of over AED10 billion ($2,722,563,000 approximately).
Muhammad BinGhatti (below), CEO of BinGhatti Developers, said current projects are proceeding as scheduled with high demand and good sales.
Sales of the ‘Mercedes Benz Places – Binghatti‘ project have exceeded 90 percent while sales of the ‘Jacob & Co Residences‘ project topped 50 percent.
BinGhatti also noted the real estate market in Dubai has become attractive to investors and buyers of various nationalities due to the ease of doing business and achieving rental returns of 7-8 percent minimum.
Strategic partnership
The developer signed a strategic agreement with the Dubai Land Department to support the ‘Dubai Real Estate Broker Program’.
“Our partnership with the DLD comes within our goals of boosting integration between the private and public sectors, and contributing from our side to achieving the goals of the Dubai Real Estate Broker Program,” he said.
The CEO further revealed the company will launch initiatives to expand Emirati roles as buyers, brokers and employees. There are also plans to establish a real estate academy specialised in training within a year.
The ‘Dubai Real Estate Broker Program‘ aims to enhance Emirati participation in the vital real estate sector through job opportunities and skills development.
The developers will offer discounts to Emirati investors and flexible payment plans for brokers to boost their sales and commissions.
The agreement between Binghatti Developers and DLD seeks to raise Emirati competitiveness and fill sector jobs through support projects, employment opportunities, and guidance on qualifying for private sector roles.
Both partners will cooperate on initiatives to develop the real estate industry and culture of innovation in Dubai.
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