In a landmark move poised to redefine Dubai’s residential landscape, Binghatti Holding Ltd., a prominent real estate developer renowned for its luxury-branded residences, has announced the acquisition of a substantial freehold land parcel exceeding 8 million square feet of gross floor area. This acquisition marks the company’s inaugural venture into large-scale master-planned community development, with an anticipated total value surpassing AED 25 billion.
Strategic Location: Nad Al Sheba 1 in Meydan District
The newly acquired land is strategically situated in Nad Al Sheba 1, within Dubai’s prestigious Meydan district. Historically known for the Nad Al Sheba Racecourse, the area has been a symbol of equestrian excellence and was the former venue for the Dubai World Cup. The location offers seamless connectivity to major road networks and is in close proximity to key landmarks, enhancing its appeal as a prime residential destination.
Vision for a Refined and Tranquil Lifestyle
Binghatti’s planned community aims to deliver a refined and tranquil lifestyle, combining convenience and exclusivity for its residents. The development is envisioned to set a new benchmark for integrated living in Dubai, reflecting the company’s commitment to quality and innovation in real estate.
Leadership’s Perspective
Muhammad BinGhatti, Chairman of Binghatti Holding Ltd., expressed his enthusiasm about this pivotal development:
“The acquisition of a mega plot for what is expected to 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’s Expanding Portfolio
Currently, Binghatti is developing approximately 20,000 units across around 30 projects in prime residential areas throughout Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City, and Sports City. The company’s flagship properties comprise branded residences developed in collaboration with prestigious brands such as Bugatti, Mercedes-Benz, and Jacob & Co. These developments have attracted high-profile clients, including football star Neymar Junior and opera performer Andrea Bocelli.
Also Read: Optimum Development By Binghatti in the heart of Business Bay.
Implications for Dubai’s Real Estate Market
Binghatti’s foray into master-planned community development signifies a significant shift in its strategic direction, expanding beyond its established portfolio of luxury tower developments. This move is poised to contribute substantially to Dubai’s real estate market, offering a new standard of integrated living that aligns with the city’s vision for sustainable and luxurious urban development.
