Binghatti Properties Acquires Land Plot in Dubai for $99 Million

Expanding Luxury Developments in the Heart of Dubai’s Business Bay

Binghatti Properties, a prominent UAE-based developer, has recently made a significant acquisition in the Business Bay area of Dubai. The company has purchased a land plot for 365 million UAE dirhams, equivalent to approximately $99 million. This strategic acquisition underscores Binghatti’s commitment to expanding its luxury real estate portfolio in one of Dubai’s most prestigious areas.

A Hub for Flagship Projects

Business Bay, known for its dynamic commercial and residential landscape, is home to some of Binghatti’s iconic projects. This includes the Bugatti Residences by Binghatti, developed in partnership with the motoring brand Bugatti, and the Burj Binghatti Jacob & Co Residences. The latter, a collaboration with the renowned watch and jewellery brand Jacob & Co, is poised to become the tallest residential tower in the world. These projects reflect Binghatti’s dedication to luxury and innovation in real estate development.

New Luxury Development Plans

The new land plot acquisition is set to be the site of another luxury development, further enhancing Binghatti’s already impressive portfolio. This move aligns with the company’s strategy to design and build new high-end properties for clients and investors. Binghatti’s expansion across Dubai has significantly boosted its stock value, which has recently been recorded at over AED 20 Billion.

CEO’s Vision for Growth

Muhammad BinGhatti, CEO of Binghatti Properties, expressed enthusiasm for the new acquisition. He sees it as an ideal opportunity to design and build a new luxury development that will not only increase the land plot’s value but also expand Binghatti’s portfolio. The company plans to develop and launch these projects in 2024, signaling a promising future in the luxury real estate sector of Dubai.