Latest news with #masterplannedcommunity
Zawya
28-05-2025
- Business
- Zawya
Binghatti acquires mega plot earmarked for an AED25bln landmark residential community
Land with 8 million square feet of gross floor area acquired for a master plan project, the first for the developer of Bugatti Residences, Mercedes-Benz Places and Burj Binghatti Jacob and Co. Residences Dubai, UAE – Binghatti Holding Ltd., the Dubai-based real estate developer behind iconic luxury branded residences, has announced that it has acquired freehold land with over 8 million square feet of gross floor area with an anticipated total development value of over AED 25 billion. The land is set to be used for what would be the company's first large-scale master-planned residential community in the Emirate. Located in Nad Al Sheba 1 in the heart of Dubai's sought-after Meydan district, 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. Commenting on the announcement, Chairman of Binghatti Holding Ltd., Muhammad BinGhatti 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 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. About Binghatti Holding Ltd.: Binghatti Holding Ltd. is a renowned Emirati brand in the real estate development sector, holding a leading position with a portfolio exceeding 80 projects valued at over AED 50 billion. Binghatti Holding is led by Chairman Muhammad BinGhatti, whose innovative vision aims to deliver luxurious projects that reflect refined artistic taste and high standards in design and quality. Binghatti Holding has successfully delivered over 11,000 residential units in the past 16 months, achieving remarkable milestones in collaboration with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Binghatti Holding continues to expand its real estate portfolio to meet the growing market demands, focusing on delivering residential projects that elevate the level of luxury in Dubai.
Yahoo
10-05-2025
- Business
- Yahoo
Triangle's largest master-planned community takes next-to-last phase to market
The Triangle's largest master-planned community, Wendell Falls, is launching its next-to-last phase a decade after it first opened. Starting in mid-May, developer Newland Communities said it will release 169 lots in the 1,100-acre development on the west side of town, south of Hwy. 264 bypass. It's 15 miles east of downtown Raleigh. Four builders — Garman Homes, Homes by Dickerson, McNeill Burbank and Brookfield Residential — are constructing townhomes and single-family homes ranging from 1,637 to 4,000 square feet with three and four bedrooms. Prices start in the low $300,000s and go up to over $900,000, according to its website. 'Our phased approach is bringing our Wendell Falls vision alive,' said Tanya Matzen, senior vice president at Brookfield Residential, in a release. 'As the community grows, we continue to add amenities, retail and restaurant options, and of course, new homes.' Wendell Falls opened in 2015 after a rocky start. (The original developer was foreclosed upon, and the project was owned by Wells Fargo for several years before Newland paid $34 million to acquire the property in 2013, The N&O previously reported.) To date, more than 70% of the 4,000 total new homes, built through 12 prior phases, have been built and are now occupied, the firm said. The community includes nearly 273 acres of preserved open space, 10 miles of trails, parks and playgrounds, pools and waterparks, outdoor fit pods, fitness center, The Farmhouse Café, and Treelight Square, a retail and dining venue. The subdivision is a joint venture partnership between North America Sekisui House LLC and Brookfield Residential, which also manages the development. Settled in the 1850s by tobacco farmers, the once-sleepy Wendell is one of the region's fastest-growing towns, not only in Wake County, but in all of North Carolina. As growth spills over from Raleigh, Wendell's population grew to 14,400, from 2020 to 2023, Census data found. That's up 46.5%. Today, it's closer to 17,300, according to World Population Review, growing at a rate of 9.27% annually. Investors and officials, meanwhile, are pouring millions into the town to meet surging demand. In 2024, WakeMed opened its new 12,000-square-foot Wendell Healthplex. It's around the corner from Wendell Falls. Wake Tech Community College, which has launched a new 100-acre east campus to the north. And this month, the town opened long-awaited Hollybrook Park at 1209 S. Hollybrook Road after acquiring the 19-acre site in 2020. 'This endeavor is just one piece of a larger expansion of recreation services to our residents,' said Mayor Virginia Gray, in a release. Amid market uncertainty and higher mortgage rates, home prices are sliding. In Wendell, the median-sale price for all housing types (single-family homes, townhomes and condos) was $357,590 in February 2025, Redfin found. That's down 4.6% year over year. On the plus side: As new stock hits the market, sales are up 21.6% year over year, data showed. On average, homes sold after 48 days on the market in February compared to 57 days last year. There were 45 homes sold this year, up from 37 last year.
