Dubai real estate developer Binghatti Properties has expanded its land portfolio after purchasing a Business Bay plot for AED365m ($99m).
The prime plot is situated in Business Bay and is just minutes away from The Dubai Mall, Burj Khalifa and the Dubai Water canal.
Binghatti’s expansion of its project development across Dubai has contributed to the company’s stock value, which has recently been captured at a value of more than AED20bn ($5.4bn).
Binghatti Properties in Dubai
Among the flagship Binghatti projects in the city are:
- Bugatti Residences by Binghatti in partnership with the worldclass automotive brand Bugatti
- Burj Binghatti Jacob & Co Residences, a branded tower in partnership with watch and jewellery brand Jacob & Co, which is aimed to be the tallest residential tower in the world
- Mercedes-Benz Places by Binghatti in Downtown, Dubai
In line with Binghatti’s strategy to expand its portfolio of projects in Business Bay, the property development brand purchased a new plot with a transaction value more than AED365m ($99m).
It will be used to build a new signature tower, which will feature the same intricate design language and details that Binghatti’s buildings are renowned for.
Muhammad BinGhatti, CEO of Binghatti Holding said: “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 AED365m, 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.”
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