Dubai real estate developer Binghatti snaps up $99m Business Bay plot

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Binghatti Properties, a Dubai real estate developer, broadened its land portfolio with the acquisition of a Business Bay plot for AED365 million ($99 million). 

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This prime location in Business Bay is minutes away from The Dubai Mall, Burj Khalifa, and the Dubai Water Canal. Binghatti's project expansion in Dubai has boosted the company's stock value, currently exceeding AED20 billion ($5.4 billion).

Binghatti Properties in Dubai

Among the flagship Binghatti projects in the city are:

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• Bugatti Residences by Binghatti in partnership with the worldclass automotive brand Bugatti
• Burj Binghatti Jacob & Co Residences, a branded tower in partnership with watch and jewellery brand Jacob & Co, which is aimed to be the tallest residential tower in the world
• Mercedes-Benz Places by Binghatti in Downtown, Dubai

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In adherence to Binghatti's strategy for enlarging its project range in Business Bay, the property development brand has acquired a new plot with a transaction value exceeding AED365 million ($99 million). 

This plot is earmarked for constructing a new signature tower, incorporating the same intricate design language and details that characterize Binghatti's renowned buildings.

Muhammad BinGhatti, CEO of Binghatti Holding, expressed, "This transaction presents the ideal opportunity to design and construct a new luxury development for our clients and investors. It will not only increase our land plot value by AED365 million but also broaden Binghatti's portfolio of plots, which we plan to develop and launch in 2024. At Binghatti, we consistently strive to design our projects with the most intricate and detailed approach, creating an elevated living experience across all our endeavors."

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