Latest news with #Binghatti
ME Construction
4 days ago
- Business
- ME Construction
Binghatti Holding launches its first master-planned community
Property Binghatti Holding launches its first master-planned community By The company has acquired a sizeable land plot for its $6.8bn residential community Binghatti Holding has acquired a freehold plot of land in the heart of Dubai's Meydan district to develop a residential community valued at more than US $6.8bn. The land spans more than eight million sqft of gross floor area and is the company's first master-planned community project. Located in Nad Al Sheba 1, the land has been set aside for a groundbreaking development designed to deliver a refined and tranquil lifestyle. The area has been long associated with equestrian excellence and home to the original Nad Al Sheba Racecourse, the former venue of the iconic Dubai World Cup. With seamless connectivity to major roads and proximity to Dubai's key landmarks, the planned community will offer both convenience and exclusivity, said Binghatti Holding in a statement. '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,' commented Chairman Muhammad BinGhatti. He added, '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 currently has around 20,000 units under development across about 30 projects in prime residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti's flagship properties are branded residences built in collaboration with Bugatti, Mercedes-Benz, and Jacob & Co. and have attracted celebrity clients including football star Neymar Junior and the opera star Andrea Bocelli, the statement concluded.
Gulf Business
4 days ago
- Business
- Gulf Business
Binghatti acquires mega plot for Dhs25bn master planned community in Dubai
Image: Supplied The anticipated value of the development exceeds Dhs25bn($6.8bn), positioning it among the largest single-site residential projects in the emirate. The land is located in Nad Al Sheba 1, within Dubai's Meydan district, an area historically linked with equestrian heritage and the former Nad Al Sheba Racecourse. '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,' said Muhammad BinGhatti, chairman of Binghatti Holding. '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.' The future development is expected to offer a 'refined and tranquil' lifestyle, with the company citing its central location and access to major roadways and key landmarks as core to its appeal. A key milestone for Binghatti The move marks a significant shift for Binghatti, which until now has been focused on high-rise branded residences, including the Bugatti Residences, Binghatti has also attracted high-profile clientele, including football star Neymar Junior and opera legend Andrea Bocelli. Led by Muhammad BinGhatti, Binghatti Holding manages a portfolio of over 80 projects valued at more than Dhs50bn. In the past 16 months, the company has delivered more than 11,000 residential units, underscoring its rapid growth trajectory and market presence.
Arabian Business
5 days ago
- Business
- Arabian Business
Dubai real estate: Binghatti acquires massive Nad Al Sheba Land for $6.9bn master-planned residential community
Binghatti Holding Ltd has acquired freehold land spanning over 8 million square feet of gross floor area for its first large-scale master-planned residential community in Dubai. The Dubai-based real estate developer, known for luxury-branded residences, expects the development to have a total value exceeding AED 25 billion. The land sits in Nad Al Sheba 1 within Dubai's Meydan district. The area previously housed the Nad Al Sheba Racecourse, which served as the former venue for the Dubai World Cup. The location maintains connections to major roads and sits near Dubai's key landmarks. Binghatti's first master community The planned community will focus on delivering a refined and tranquil lifestyle whilst offering convenience and exclusivity to residents. 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 currently develops around 20,000 units across approximately 30 projects in prime residential areas throughout Dubai. These locations include Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Bugatti, Mercedes-Benz, and Jacob & Co. football star Neymar Junior and opera performer Andrea Bocelli.
Al Bawaba
5 days ago
- Business
- Al Bawaba
Binghatti and ADIB to bring Sharia-compliant Home Finance solutions to the UAE real estate market
Dubai's leading developer, Binghatti Holding Ltd. ('Binghatti), announced today that it has signed a Memorandum of Understanding ('MoU') with Abu Dhabi Islamic Bank ('ADIB'), a leading financial institution in the UAE, to broaden and deepen Binghatti's customer base by offering customers Sharia-compliant home-financing solutions, including off-plan property MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once construction of a project reaches 35% on the MoU, Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti, said: 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing.'Commenting on the MoU, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said: 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion.'Binghatti currently has 18,600 units under development across 23 projects in prime residential areas across the City, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti was proud to launch its latest 1,600-unit project, Binghatti Aquarise, in early May at a star-studded event at the Coca-Cola Arena with nearly 12,000 people in attendance. Binghatti has a strong record of on-time unit delivery supported by its in-house vertically integrated business model, comprising design, build and materials sourcing. In 2024, Binghatti saw sales of AED 11.6 billion, a 161% year-on-year increase, driven by 16 successful project launches and the timely delivery of 3,700 units. Collaborations with renowned global luxury brands like Mercedes-Benz, Bugatti, and Jacob & Co., as well as prestigious clientele including football star Neymar Junior and renowned musician Andrea Bocelli, further elevated the company's market position. Binghatti's recent strategic acquisition of over 13 million sqft of prime land, with a development value exceeding AED 26 billion, underscores its ambitious future growth plans.
Arabian Business
5 days ago
- Business
- Arabian Business
Binghatti, ADIB sign massive deal for Sharia-compliant home financing in Dubai
Dubai developer Binghatti Holding Ltd has signed a Memorandum of Understanding with Abu Dhabi Islamic Bank (ADIB) to provide customers with Sharia-compliant home financing solutions for off-plan property purchases. The agreement will enable homeowners to secure financing once construction reaches 35 per cent completion across Binghatti's development projects. 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing,' Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti said. ADIB and Binghatti partnership Binghatti currently has 18,600 units under development across 23 projects in residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. The developer launched its 1,600-unit project, Binghatti Aquarise, in early May at an event at the Coca-Cola Arena with nearly 12,000 people in attendance. Binghatti operates an in-house business model comprising design, build and materials sourcing. 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion,' Mohamed Abdelbary, Group Chief Executive Officer at ADIB added. In 2024, the company recorded sales of AED 11.6 billion, representing a 161 per cent year-on-year increase, driven by 16 project launches and the delivery of 3,700 units.
