Significant Expansion of Binghatti Properties’ Dubai Portfolio Valued at USD 27 Billion
Binghatti Properties Set for Massive Portfolio Expansion in Dubai, Valued at USD 27.2 Billion
Dubai-based developer Binghatti Properties is planning a significant expansion of its real estate portfolio, increasing its current value from AED 40 billion (USD 10.9 billion) to AED 100 billion (USD 27.2 billion). This ambitious plan will be realized over the next 18 months, with property handovers worth over USD 1 billion (AED 3.67 billion) taking place in the next three months.
Expansion and New Projects
Binghatti Chairman Muhammad Binghatti announced that the developer plans to launch 12,000 new units in the next three months. The company will also receive income from projects completed during this period.
Binghatti emphasized that Dubai remains one of the world’s most prominent real estate investment destinations, with its market exhibiting consistent growth. The average price per square foot in Dubai is USD 352—one-third of that in London and less than half of Singapore’s rate.
The Latest Project: Binghati Grove
Favorable Investment Environment
According to Binghatti, Dubai offers one of the best investment environments worldwide, particularly due to higher rental yields, which range from 7% to 10%, compared to around 3% in London. The developer also focuses on expanding its land portfolio in key Dubai locations, including Palm Jumeirah, Business Bay, and Al Jaddaf.
Plans for International Expansion
Binghatti additionally plans to expand beyond Dubai, having opened an international office in Riyadh with the aim of entering the Saudi Arabian market. The company offers properties for all market segments—from affordable apartments to luxury residences.
Competitive Property Prices
Chairman Muhammad Binghatti noted that for USD 1 million, buyers can acquire approximately 1,000 square feet of space in Dubai’s prime areas, whereas the same amount would only secure about 172 square feet in Monte Carlo.
This project marks a significant milestone for Binghatti as it continues to expand and solidify its position as one of Dubai’s fastest-growing developers.
Source: Arabian Business
