Staff Report
Dubai, UAE
Binghatti Holding Ltd., a Dubai-based luxury real estate developer, has announced the acquisition of freehold land with over eight million square feet of gross floor area to build its first large-scale master-planned residential community with a development value of over Dh25 billion. The land is located in Nad Al Sheba 1 in the heart of Dubai’s sought-after Meydan district.
Meydan 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, 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 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.
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Also read: Binghatti unveils first residential project with Mercedes‑Benz
