Dubai’s prominent developer Binghatti has made a landmark land purchase in the emirate, earmarked for an extensive development spanning 8 million square feet of gross floor area.

While the exact purchase price remains undisclosed, the developer confirmed that the deal was entirely self-financed, highlighting Binghatti’s robust financial position.

The land, located in Nad Al Sheba 1 within Dubai’s Meydan district,  the former site of the original Nad Al Sheba Racecourse and the legendary Dubai World Cup, will be used to launch the company’s first large-scale master-planned residential community in Dubai.

Muhammad Binghatti, Chairman of Binghatti Holding, said, “Acquiring this mega plot for our first master-planned development is a pivotal milestone in our company’s growth.”

He added, “This new mega project will capitalise on the momentum of our vertically integrated business model, which consistently delivers distinctive, high-quality properties ahead of schedule.”

“Our strong financial foundation allowed us to self-fund this acquisition, paving the way for a transformative development that is set to redefine integrated living in Dubai.”

Expanding Footprint Across Dubai

Binghatti currently has about 20,000 residential units under development across roughly 30 projects in key locations such as Downtown Dubai and Business Bay. The developer has also gained acclaim for luxury-branded residences created in collaboration with Bugatti, Mercedes-Benz, and Jacob & Co.

Among their high-profile clientele are global celebrities like Brazilian football star Neymar Jr. and opera icon Andrea Bocelli. This major land acquisition signals Binghatti’s ambitious plans to shape Dubai’s residential market with innovative, large-scale communities.

Source: Gulf News