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Binghatti Developers expands with Dh2 billion future outlays

Binghatti Developers, the real estate arm of Binghatti Holding group of companies, have confirmed their intentions to invest more than Dh2 billion over the next two years on projects throughout Dubai and the UAE in an exclusive interview with Gulf Property.

Muhammad BinGhatti, Chief Executive Officer and Head of Architecture at Binghatti Developers, said: “Our current portfolio consists of more than 15 projects completed or under development throughout Dubai. We mainly focus on the mid-segment of the market in areas like Dubai Silicon Oasis, Jumeirah Village Circle, Liwan, and Dubailand Residence Complex. However, we have ensured diversity in our projects with high-end luxury projects such as the Swarovski Sparkle Towers in Dubai Marina, a joint venture with Tebyan Real Estate Development, a project worth over Dh1 billion.”

The company expects to complete the Dh1 billion Swarovski Sparkle Towers in the first quarter of 2017.
The project is a joint venture of Binghatti Developers with Tebyan Real Estate Development in Dubai Marina.

The company’s operations focus on Dubai, however they have rapidly expanded to other Emirates with upcoming projects in Abu Dhabi and Sharjah. Their recently handed over project, Binghatti Apartments is yielding some of the highest rental prices in the area, with some investors netting 12 per cent yields.                        

Investment Plans

With the UAE having one of the fastest population growth rates in the world and Expo 2020 right around the corner, the rental market is projected to continue experiencing growth and stability in the future.

BinGhatti said: “We intend to continue investing heavily in our Dubai projects. We have already invested Dh1 billion over the last two years and the figure continues to grow as we acquire and develop new plots. We are forcasting an investment of Dh2 Billion over the next two years on projects throughout Dubai and the UAE. It’s a great time to be shopping for plots right now.”

BinGhatti is confident that the health of the Dubai Real Estate market is something which investors should take as a great opportunity.

“Now is the perfect time to buy. Today it is undeniable that Dubai is a mature Real Estate market, any mature market should experience corrections. These corrections occur to prevent a repeat of the 2008 downturn. Furthermore, the leadership of the UAE Government has ensured that the country remains a stable and secure safe haven for investors throughout the MENA region.” BinGhatti added.

The company has recently acquired a number of plots throughout Dubai in some areas including Dubai Silicon Oasis, Dubai Land Residence Complex, Liwan, Jumeirah Village Circle, and Sharjah. We are still in discussions for additional plots in Business Bay and Dubai Marina.