Binghatti Holding Ltd, a prominent player in Dubai’s luxury real estate market, has made a significant move by acquiring over 8 million square feet of freehold land in Nad Al Sheba 1. This acquisition, valued at AED 25 billion (approximately $6.9 billion), marks the company’s first foray into master-planned community development.
Located within the Meydan district, the newly acquired site is steeped in heritage, having formerly housed the Nad Al Sheba Racecourse, a historical venue for the Dubai World Cup. The area benefits from seamless connectivity to major highways and proximity to Dubai’s key urban and cultural destinations.
Vision for a Signature Residential Destination
The upcoming project is envisioned as a lifestyle-oriented community that will prioritize sophistication, peace, and exclusivity. This initiative reflects Binghatti’s ambition to redefine integrated living experiences in Dubai.
Chairman Muhammad BinGhatti commented on the development, saying, “This land acquisition represents a strategic milestone as we embark on our first master-planned project. Backed by our strong financial position, we have fully self-financed this transaction. The development aims to set a new industry standard, reflecting our commitment to early delivery and exceptional quality through our vertically integrated model.”
Binghatti’s Expanding Portfolio and Premium Collaborations
The company is currently managing the development of approximately 20,000 units spread across nearly 30 active projects in some of Dubai’s most sought-after residential zones. These include Business Bay, Downtown Dubai, Al Jaddaf, Dubai Science Park, Dubai Production City, Jumeirah Village Circle, and Sports City.
Binghatti has also made a name for itself through its collaborations with global luxury brands. Its portfolio features branded residential projects in partnership with renowned names such as Bugatti, Jacob & Co., and Mercedes-Benz, developments that have drawn high-profile clients including international football icon Neymar Jr. and celebrated tenor Andrea Bocelli.
A New Chapter in Binghatti’s Real Estate Journey
With this latest acquisition in Nad Al Sheba 1, Binghatti is set to transition from luxury tower developments to full-scale residential communities. This marks a transformative step in the company’s evolution, reinforcing its position as a forward-thinking developer within Dubai’s dynamic property market.
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-binghatti-acquires-massive-nad-al-sheba-land-for-6-9mn-master-planned-residential-community
